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85 richest now have as much money as poorest 3.5B

http://www.usatoday.com/story/news/world/2014/11/07/globalpost-richest-poorest/18640031/

by eplanit • 12 years ago

9 1 12 years ago

US

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roehst• 12 years ago

Those figures can be shocking at first but if you think about it the problem is not those 85 richest having as much as the poorest 3.5B. Probably those 85 people reinvest a huge part of their net worth in assets. It is not as 85 people consume as much as 3.5B people -- shifting consumption from the top 85 to the poorest 3.5B would not make a difference.

You couldn't do much for ~1.5 bn people living in poverty by redistributing wealth from the top 100 richest.

But when you compare the resources developed countries have, and compare the average living standards of developed countries against underdeveloped countries, then you have a huge difference.

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