Friday, May 18, 2007

for richer , for poorer

From here and here and here

In Britain, the country's thousand richest people now have wealth of about $300billion (£150billion), three times the figure of ten years ago.

The incomes of the middle class and poor in America have barely risen in a quarter of a century,but those at the top have gone up by about 150%.

According to Princeton economist Paul Krugman if you look at the distribution of income, at least pre-tax, it is the same as it was in the 1920s and the 1920s looked the same as pre-World War One .

The richest 10% of households in the world have as much yearly income as the bottom 90%.

The richest 1% alone owning 40% of the world's wealth.

28% of Thailand’s population live on less than $ 2 a day, 20-25% for Russia, 18% for Turkey and Mexico.

According to official figures, over 50 % of Mexico’s population is still poor.The richest 10th earns over 40% of total income, while the poorest 10th earns only 1.1 %),

The poorest one-fifth of Brazil's 182 million people account for only a 2.4% share of the national income. Brazil is second only to South Africa in a world ranking of income inequality. According to 2003 data, about one-fifth of the population live on less than US$2 a day and 8% live on less than US$1 a day. Brazil's Northeast contains the single largest concentration of rural poverty in Latin America.

1.5 million Dominicans fell into poverty as a result of the 2002-2004 financial crisis and 670,000 of them were forced to reduce their consumption of basic food below minimum subsistence levels. By the end of 2004 42 % of Dominicans were poor and 16 % of them were living in extreme poverty

"I do think there is something slightly obscene in the degree of inequality that prevails in the world...but to expect inequality to be taken care of by philanthropists is barking up the wrong tree..." - George Soros

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