Between 1988 and 2008 the 1% has seen its real income rise by more than 60% . The top 1%, and somewhat less so the top 5%, gained significantly, while the next 20% either gained very little or faced stagnant real incomes. This created polarization among the richest quartile of world population, allowing the top 1% to pull ahead of the other rich and to reaffirm in fact -- and even more so in public perception -- as winners of globalization.
The global top 1% consists of more than 60 million people. The bottom two-thirds of world population received 12.7 percent of world income in 2008. the top 1% received almost 15 percent.
Global inequality today is greater than in 1870.
From here
The global top 1% consists of more than 60 million people. The bottom two-thirds of world population received 12.7 percent of world income in 2008. the top 1% received almost 15 percent.
Global inequality today is greater than in 1870.
From here
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