Two years ago, top 1% of the richest people own 50% of the world’s wealth (Fortune Magazine). Guess what? In measly two years, the wealth inequality has degenerated to just eight (8) people. Yes, 8 people now own 50% of the world’s wealth.
I said ‘degenerated’ because the alarming trend of excessive concentration of wealth. And it is getting worse (as predicted). It does not take a genius to see that a highly polarized society is counter productive to progress.
Why would people be motivated to work hard when the “have’s” will always make sure they are on top. Remember the Occupy Wall Street movement a few years ago, and its message: the economic system is rigged for the very few while the majority continue to fall further behind?
Well, the majority is definitely getting the short end of the stick. President Trump and his handpicked cabinet members are all part of the 1%. Any reasons to think they would loosen the grip on the 99%?
I don’t think so.
What is your prediction?
