Is it true that 80% of the world's wealth in the hands of 20%? - page 7.

teosanru

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Quote from: Sayeds56 on February 11, 2023, 05:16:33 AM

According to various studies and world inequality report 2018, large portion of world's wealth is concentrated in the hands of small portion of population, while the bottom 50% holds less than 2%. This distribution of wealth is highly unequal and cause of concern for many people, as it contributes to social and political unrest all over the world.

What governments can do to make it more equitable?

https://wir2018.wid.world/

Only thing government can do is make socialism in practice to improve things but we have seen in the past even that didn't worked well so technically nothing much that they can do. You can tax the rich as much as you want they will eventually find loopholes in it and pay minimal taxes moreover you'll also have want businesses to generate income in your country so obviously you'll want they are not taxed much too. So this gap can only be reduced to a certain extent not more than that.

franky1

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well,

when 2 billion peoples savings are equivalent to just $500 each($1trilion total)
and then we have 9 people with more then $1trill total

there is a massive rich:poor gap

9:2,000,000,000,000

uneng

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Quote from: Swordsoffreedom on February 11, 2023, 11:06:40 PM

Exactly, it's out of our control, there's nothing we can do, don't waste time on those things, our job is to focus on ourselves and our family. As long as we can bring a full and happy life to our loved ones, we have succeeded. The world has been unfair for thousands of years, and I suspect that even government intervention will not be able to solve it. All this, crime, and the divide between rich and poor, all stem from human greed, so no one can stop this.

You said everything! Our goal should be our personal lives, as individuals, because the collective causes are doomed to the failure. It has been like this since the beginning of human society. Everyone who attempted to change the status quo was betrayed, murdered or corrupted, while the world remained the same. If each person took care of their own lives with excellency, the world would be a better and more conscious place, where manipulation by the upper classes wouldn't take place.

so98nn

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Interesting but no government or private individual can ever make the equality amongst us around the world. I’m not sure but I think there is nothing we can do about it since making money different phase for everybody. One individual could be way smarter than the other and that’s why some of them are richest one and create their universe out of scratch.

I think we should not be jealous about it. There is nothing like someone is restricting us from making more and more money. Let’s not include the family owned big businesses which are running since ages. There are still examples in the current era who has made so much wealth within their life span itself. This is not really question if someone being a huddle, it’s question of how one creates a wealth for themselves.

BayAngelo

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This is reality and there is nothing that will change it. even crypto will not make much change. My reason.
1; The rich knows how to control the masses and it is simple. feed them with what they crave for and everyone keeps quite. Nobody seriously wants to challenge towards the rich. If you do, government forces will come for you.
Even crypto is gradually been control by the rich. The government will always work hand in hand with the rich to intimate or feed little to the poor mass while they take the large share.

crunck

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crunck

Quote from: slapper on February 11, 2023, 05:53:59 PM

That there is so much wealth disparity throughout the globe worries me. It's sad that so few people control so much of the world's wealth, while the lowest half of the population controls less than 2%. The world's increasingly uneven distribution of wealth is a source of worry for many people, including myself. A more fair version of this situation sounds like a formidable obstacle to overcome, yet it is still a fact of life in the world we now inhabit. Although influential individuals have the ability to restore equilibrium, they show little sign of doing so since they benefit from the current state of affairs. I have faith that governments and the public will come up with innovative and helpful solutions to this problem, but I recognize its complexity.

Are you sad that you are not one of them? Human society since its creation has been inherently unfair, there is always racial discrimination, the divide between rich and poor, and it will remain forever, never disappear. So don't try to be sad or worried because there's nothing else we can do. Just because we are not rich, we want the world to be fairer, but I think if we were rich, we would think differently.

wajik-tempe

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Yes, this is a widely recognized issue and a growing concern for many people. wealth inequality can also result in limited access to education, healthcare, and other essential services for those who are at the bottom of the wealth distribution, perpetuating the cycle of poverty and limiting their opportunities for upward mobility. So it will become infinite cycle.

What government could do ?
I think implement a progressive tax system where higher income individuals and corporations pay higher tax rates. This helps to redistribute wealth from the wealthy to the less well-off. This thing already implemented in some countries but still not enough to reduce the wealth inequality.
And what they should strict about is labor protections, such as minimum wage laws and worker protections, to ensure that workers are paid a fair wage for their labor.

But as we all know that wealthier people have more power to control how the economics work, so they wouldn't let "others" reach their level while they are already above others

naira

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Quote from: Sayeds56 on February 11, 2023, 05:16:33 AM

According to various studies and world inequality report 2018, large portion of world's wealth is concentrated in the hands of small portion of population, while the bottom 50% holds less than 2%. This distribution of wealth is highly unequal and cause of concern for many people, as it contributes to social and political unrest all over the world.

What governments can do to make it more equitable?

https://wir2018.wid.world/

If we understand how the hands of capitalists, who are always talked about as one of the world's financial rulers, then 80% depends on where the data comes from. Because of how the world economy can easily be classified as rich, poor, and middle class. What is the importance of all this, if poor people still don't believe in their abilities, don't want to work hard and feel that only rich people can achieve their goals. Until whenever it will enrich the richer and enslave the poor thinking to remain poor.

Get out of the zone of narrow thinking and do what is right in front of your eyes, pay attention to world data related to this and that wealth because the data is created by those who are rich so that the poor stay where they are.

MFahad

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Our society is such that the poor are getting poorer while the rich are getting richer. The main reason for this is profiteering. It cannot be completely equalized, but if the government wants to, it can be equalized to a certain extent. If the government taxes rich people well and gives interest-free loans to poor people, it can solve this problem to a large extent.

Cryptocurrencies are mostly benefited by rich people as they are not taxed at all. I think it is not possible to equalize wealth through cryptocurrency until it is properly legalized in any country. But the problem is that no one from the government is going to make common people equal to them. 50% People of the rich people in the world are government people

vv181

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The Pareto distribution are happening and reproduced across many subjects of life, not specifically about economics or wealth.

Quote from: Sayeds56 on February 11, 2023, 10:30:48 PM

Quote from: DrBeer on February 11, 2023, 07:37:09 AM

This is a fairy tale... A kind but naive fairy tale about universal equality. As much as you would like, but cryptocurrency will not change the standard of living of anyone. ....

~it is incorrect to say that it can't play a role in improving financial access and reducing poverty. Adoption of crypto currency will provide easy access to millions of unbanked individuals through smart phone and internet, it can potentially reduce corruption as transactions made on block chain are on a public ledger & transparent.
Decentralization of financial system will reduce the concentration of power with a single entity, such as central bank, this can help to promote financial stability.

Sure, but how significant it is compared to an aid to those who truly need it and a direct practical approach to educate how could they thrive in their own life, accustomed to their knowledge and their social and geographical condition. I dont't think cryptocurrency would do much.

Cryptocurrency won't fix corruption, those who do it surely could do better. It is also an absurd idea for a government to use cryptocurrency for the sole purpose of governmental usage. They will not incorporate their bureaucracy with decentralized economics tools. It broke the idea of how the state performs.

Afterall, cryptocurrency alone won't greatly and significantly helps poverty.

mvdheuvel1983

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Quote from: Sayeds56 on February 11, 2023, 05:16:33 AM

According to various studies and world inequality report 2018, large portion of world's wealth is concentrated in the hands of small portion of population, while the bottom 50% holds less than 2%. This distribution of wealth is highly unequal and cause of concern for many people, as it contributes to social and political unrest all over the world.

What governments can do to make it more equitable?

Isn't it obvious? Looking around you. Go on the internet. Walk around your neighbourhood. Watch the news or listen to the radio. You need no seer to tell you this. I would be surprised it isn't. The ratio is massive, and the divide is increasing by the day.
Unfortunately, the government can't do nothing or better still the government won't do anything. All their so-called economic policies and reforms are all a charade. They gotta keep the people poor so that they can do their bidding. They have to be able to control the people.
Poverty is like a leash around the neck of the poor in the hands of the government. No wonder they are fighting bitcoin because they know it's freedom. Do not let anyone deceive you, you gotta take personal responsibility for creating your own wealth.

Jawhead999

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Quote from: Sayeds56 on February 11, 2023, 10:30:48 PM

It is true that crypto currency alone may not necessarily solve all the issues related to economic inequality, it is incorrect to say that it can't play a role in improving financial access and reducing poverty.

How crypto can improve financial access and reducing poverty when the poor people don't have money to buy crypto? Roll Eyes

crypto isn't a free money where you can easily claim faucet worth of $10 for every minute, if you claim Bitcoin faucet it's only give you 10 satoshi for every hour.

Quote

Adoption of crypto currency will provide easy access to millions of unbanked individuals through smart phone and internet, it can potentially reduce corruption as transactions made on block chain are on a public ledger & transparent.

I believe you're live in where Bitcoin isn't become a legal tender, do you think those individuals will create their own crypto wallet rather than their bank accounts? lol, you're need bank accounts or e-wallet in order to receive cash converted from Bitcoin!

Doesn't make any sense if your assumptions people wouldn't or can't create their own bank accounts since it's easy and you need it since you're still using fiat.

Quote

Decentralization of financial system will reduce the concentration of power with a single entity, such as central bank, this can help to promote financial stability.

Again, do you think crypto is a charity that will give free coins to the poor people?

maydna

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Quote from: Swordsoffreedom on February 11, 2023, 11:06:40 PM

Quote from: AmoreJaz on February 11, 2023, 06:49:27 PM

Quote from: slapper on February 11, 2023, 05:53:59 PM

That there is so much wealth disparity throughout the globe worries me. It's sad that so few people control so much of the world's wealth, while the lowest half of the population controls less than 2%. The world's increasingly uneven distribution of wealth is a source of worry for many people, including myself. A more fair version of this situation sounds like a formidable obstacle to overcome, yet it is still a fact of life in the world we now inhabit. Although influential individuals have the ability to restore equilibrium, they show little sign of doing so since they benefit from the current state of affairs. I have faith that governments and the public will come up with innovative and helpful solutions to this problem, but I recognize its complexity.

i don't think the government will be looking at solutions on this matter. that's actually hard to implement. i guess, let's not worry about this as it is beyond our control. the figures may be true, but what can we do being an ordinary person?
do you really think even one government on this earth is thinking about the equality of his people? i seriously doubt they are. so just mind your own business, and find ways how to improve your living.

Exactly, it's out of our control, there's nothing we can do, don't waste time on those things, our job is to focus on ourselves and our family. As long as we can bring a full and happy life to our loved ones, we have succeeded. The world has been unfair for thousands of years, and I suspect that even government intervention will not be able to solve it. All this, crime, and the divide between rich and poor, all stem from human greed, so no one can stop this.

We can't do much to change this injustice, but we can do something for our families in many ways, and that's what we have to do for the sake of our loved ones and preparing for the generations to come after us. When we can do it, we don't have to worry about the changes happening in this world because we can adapt, and so will the generations after us.

We also cannot expect too much from the government because they already have too much work to be done, even though the welfare of the people is the government's responsibility. And if we can try on our own until we truly do not depend on the government, we can survive well and maybe help people around us who need it more.

Swordsoffreedom

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Quote from: AmoreJaz on February 11, 2023, 06:49:27 PM

Quote from: slapper on February 11, 2023, 05:53:59 PM

That there is so much wealth disparity throughout the globe worries me. It's sad that so few people control so much of the world's wealth, while the lowest half of the population controls less than 2%. The world's increasingly uneven distribution of wealth is a source of worry for many people, including myself. A more fair version of this situation sounds like a formidable obstacle to overcome, yet it is still a fact of life in the world we now inhabit. Although influential individuals have the ability to restore equilibrium, they show little sign of doing so since they benefit from the current state of affairs. I have faith that governments and the public will come up with innovative and helpful solutions to this problem, but I recognize its complexity.

i don't think the government will be looking at solutions on this matter. that's actually hard to implement. i guess, let's not worry about this as it is beyond our control. the figures may be true, but what can we do being an ordinary person?
do you really think even one government on this earth is thinking about the equality of his people? i seriously doubt they are. so just mind your own business, and find ways how to improve your living.

Exactly, it's out of our control, there's nothing we can do, don't waste time on those things, our job is to focus on ourselves and our family. As long as we can bring a full and happy life to our loved ones, we have succeeded. The world has been unfair for thousands of years, and I suspect that even government intervention will not be able to solve it. All this, crime, and the divide between rich and poor, all stem from human greed, so no one can stop this.

Sayeds56

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Quote from: DrBeer on February 11, 2023, 07:37:09 AM

This is a fairy tale... A kind but naive fairy tale about universal equality. As much as you would like, but cryptocurrency will not change the standard of living of anyone. ....

It is true that crypto currency alone may not necessarily solve all the issues related to economic inequality, it is incorrect to say that it can't play a role in improving financial access and reducing poverty. Adoption of crypto currency will provide easy access to millions of unbanked individuals through smart phone and internet, it can potentially reduce corruption as transactions made on block chain are on a public ledger & transparent.
Decentralization of financial system will reduce the concentration of power with a single entity, such as central bank, this can help to promote financial stability.
Of course, these potential changes come with their own challenges and difficulties, such as, need for wide spread adoption, the development of user-friendly interfaces and reduction of volatility in crypto currency prices.

Nevertheless, it is important to consider the ways in which crypo currency could potentially improve the financial system & promote economic equality

AmoreJaz

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Quote from: slapper on February 11, 2023, 05:53:59 PM

That there is so much wealth disparity throughout the globe worries me. It's sad that so few people control so much of the world's wealth, while the lowest half of the population controls less than 2%. The world's increasingly uneven distribution of wealth is a source of worry for many people, including myself. A more fair version of this situation sounds like a formidable obstacle to overcome, yet it is still a fact of life in the world we now inhabit. Although influential individuals have the ability to restore equilibrium, they show little sign of doing so since they benefit from the current state of affairs. I have faith that governments and the public will come up with innovative and helpful solutions to this problem, but I recognize its complexity.

i don't think the government will be looking at solutions on this matter. that's actually hard to implement. i guess, let's not worry about this as it is beyond our control. the figures may be true, but what can we do being an ordinary person?
do you really think even one government on this earth is thinking about the equality of his people? i seriously doubt they are. so just mind your own business, and find ways how to improve your living.

Gyfts

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Quote from: Sayeds56 on February 11, 2023, 05:16:33 AM

What governments can do to make it more equitable?

Government doesn't exist to make things equitable. They can strive for equality, but not equity.

Equity is equal outcome. You can only get this through direct wealth transfer (usually in the form of higher taxes for most countries) and this has always shown to slow down economic growth and eventually drive wealth out of the country. Equality is equal opportunity. You get equal opportunity by opening free markets and ensuring the average citizen has access to these markets.

Global wealth inequality isn't a giant issue. Wealth does not necessarily have to be a zero sum game. It's possible for people at the top to have copious amounts of wealth while still having prosperity for the lower half. Looking at the globe, we clearly know what types of economic systems work and which ones don't.

serjent05

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Quote from: slapper on February 11, 2023, 05:53:59 PM

Although influential individuals have the ability to restore equilibrium, they show little sign of doing so since they benefit from the current state of affairs. I have faith that governments and the public will come up with innovative and helpful solutions to this problem, but I recognize its complexity.

I do not think that equilibrium will be attained, the moment these rich and influential people feel that the momentum is shifting, they will do everything they can eve dirtying their hands in order to stop that momentum.

While you have faith in the government, I do not have. Since most of the people who are elected to the seat have this gratitude to pay to those who supported them in their candidacy. Just like what our recent president did, appointing a junior bypassing its senior as an undersecretary of some department. Imagine, how much experience and knowledge or even achievement a 24-year-old has than his seniors that work decades in that department.

That example simply shows that government works not on its people's concerns but rather on the people behind their elections. So I think equilibrium in economic status is a myth.

slapper

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That there is so much wealth disparity throughout the globe worries me. It's sad that so few people control so much of the world's wealth, while the lowest half of the population controls less than 2%. The world's increasingly uneven distribution of wealth is a source of worry for many people, including myself. A more fair version of this situation sounds like a formidable obstacle to overcome, yet it is still a fact of life in the world we now inhabit. Although influential individuals have the ability to restore equilibrium, they show little sign of doing so since they benefit from the current state of affairs. I have faith that governments and the public will come up with innovative and helpful solutions to this problem, but I recognize its complexity.

tjtonmoy

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Quote from: jrrsparkles on February 11, 2023, 12:16:47 PM

Top 1% controls 80% either directly or indirectly so the remaining 20% are not in charge of those big sharks. If you ever dreamt of the wealth distribution will be equal then it will only happen in dreams cause the rich will become richer in every kind of political structure so one who wants to get rich needs to find a way to get out of this salary job to reach higher status.

well that doesn't add up to 100%. But the fact is true. And I don't think that there's any solution to this. Rich will always take from the poor and become more rich. That's how the whole world works. Poor people will always look up to rich and try to be like them. And in that process they end up giving more to the rich. And the education system is the main problem. It will teach you to never think out of the box. You are trapped inside. Have a look at the rich people. 99% of them are who broke the box and made their own decisions.

Topic: Is it true that 80% of the world's wealth in the hands of 20%? - page 7. (Read 1009 times)