What does "99% of the world's wealth is owned by 1% of people" mean?

Discussion in 'Business & Economics' started by wynn, Nov 15, 2011.

  1. wynn

    wynn ˙

    What does the frequently made statement that "99% of the world's wealth is owned by 1% of people" actually mean?

    How did they arrive at these numbers?
  2. elte

    elte Valued Senior Member

    I'd put it as being a sign that civilization has devolved back toward Feudalism.
  3. nietzschefan

    nietzschefan Thread Killer

    I have been screaming on this very forums how, society has regressed into economic feudalism for at least 5 years now.
  4. wynn

    wynn ˙

    Where are the 70 million people who own 99% of the world's wealth? Who are these people? How much does one of these people actually own?
  5. cosmictraveler

    cosmictraveler Be kind to yourself always.

    Here are 400 of them who live in America.

  6. Cifo

    Cifo Day destroys the night,

    99% of the world's personal wealth is owned by the richest 1% of the people.

    Seeing as how the world's population is 7 billion, 1% of it is 70 million. Obviously, "they" did not gather data on the personal wealth of the world's 7 billion people, and not even on the richest 70 million people, but most likely, they collected and analyzed statistical data, found a pattern, and using a statistical method, gave the estimate you quoted.
  7. River Ape

    River Ape Valued Senior Member

    As there is no conceivable basis of calculation under which it is true,
    it doesn't much matter what it means.
  8. scheherazade

    scheherazade Valued Senior Member

    While the means of arriving at the figures may be by debatable formulas and extrapolation, there would seem to be little argument that the personal wealth and more importantly the resources needed for basic survival, are not equitably distributed.

    How to address the situation remains the challenge.
  9. adoucette

    adoucette Caca Occurs

    Nothing, since there is no way to compute "the world's wealth".

    96.5% of all statistics are simply made up.

    (just kidding)

    If you want to discuss issues like this, then you usually have to narrow your scope.

    Like limit it to personal wealth, and not public wealth (meaning we don't count aircraft carriers, roads, dams, airports, land improvements that sort of thing)

    And you might want to discuss one country, like the US or a reasonable collection for which there is data, like the EU.

    For instance the top 1% hold ~38% of the personal wealth in the United States
  10. adoucette

    adoucette Caca Occurs

    What is equitable and how is that determined?

    Should Steve Jobs have a bigger piece of the pie than the alcohol addict who now sits on the street corner all day asking working stiffs for "cab fare"?
  11. cosmictraveler

    cosmictraveler Be kind to yourself always.

    The person that has the biggest heart of gold is the richest person there is for money can never buy that, you must learn it from lifes experiances and what you do to others.
  12. nietzschefan

    nietzschefan Thread Killer

    No but Steve should pay the same % taxes someone making 50K a year makes. Fact is, he pays less % taxes.

    The real criminals are bankers and old corporations that pay nearly 0% taxes.
  13. wynn

    wynn ˙

    That statistics that "99% of the world's wealth is owned by 1% of people" is bandied about in the media all the time. I wondered what they mean by it.
  14. Me-Ki-Gal

    Me-Ki-Gal Banned

    I see My good buddy neighbor is still on the List . He lives up the Rattle Snake If Occupiers by the droves are interested I can show a couple of you were he lives. He pays his people pretty good and a job with Washington Corp. is considered a very good job for any Missoulian , but you know he sits on a lot cash so just saying. He has not made a big donation to Wood For Haiti and that is stupid . I guess he don't know the Christ in town is making a strong suggestion. I am not the pushy type . Hey it is up to you if you want to go to heaven or not . Fuck I don't care . Hell has been good to me some what . No real complaints . The pussy is good
  15. fedr808

    fedr808 1100101

    Or it came from the same place that the oft quoted fallacy "Humans only use 10% of their brains" came from... from someone that thought it sounded good at the time.

    Its such an old saying that its origins are from a time (a few decades ago) where there was no way to find that out statistically.
  16. Me-Ki-Gal

    Me-Ki-Gal Banned

    What they mean is they are stingy . We know they give a lot to charities yet they hold onto the human instinct of self preservation and if they rose from poverty to great heights as you you have opportunity in America to do you can . There only fault is they still have hoarding instincts just like the rest of you .
    A human flaw in the modern world we live in . Fear not for we are in proceed of birth pangs of chance . To bad so many people have to feel the pain , but hey birth hurts . Should of got the Epidermal
  17. Syzygys

    Syzygys As a mother, I am telling you

    Let's say 100 Sciforum members are in a room with 100 candies. I get everyone's candy, but yours. Then I, the 1% own 99% of the candies in the room.

    Clear enough for you? I arrived at those numbers by counting the candy and beating up everyone to get them, except you....
  18. adoucette

    adoucette Caca Occurs

    Not on income from normal salary earnings.

    For these the top earners pay far more in taxes.

    Corporations don't actually pay any taxes.
    The people who buy their products do.

    If you TREBLE the tax on the oil companies for instance, all that would mean is the price you pay for gas would go up.

  19. spidergoat

    spidergoat alien lie form

    It means that cash rules everything around us.
  20. nietzschefan

    nietzschefan Thread Killer

    Didn't you watch Tropic Thunder? Never go full retarded dude.



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