Eight billionaires 'as rich as world's poorest half'

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  • #26255
    Vitalogy
    Participant

    http://www.bbc.com/news/business-38613488

    Think about that for a second. 8 people have more wealth than 3.6 billion.

    When I was young a famous quote my Mom used to always tell me is that “life isn’t fair.”

    #26256

    The interesting thing is that if they gave all of their wealth to the 3.6 billion, each would end up with just a little over $100.

    #26258
    duxrule
    Participant

    What makes that interesting?

    #26259
    edselehr
    Participant

    It’s interesting to see that bacon knows how to do math.

    #26260

    It’s interesting to me, because the first impulse is to think that with all their billions they could relieve the poverty of the lower half, until the math is done.

    Sorry if it’s not interesting to anyone else. I see now that “interesting” is subjective and not objective.

    #26261
    jr_tech
    Participant

    This morning, I heard a couple of talk show hosts that apparently did not do the math correctly, talking about the $3600 each for the “lower half”.

    #26262
    Alfredo_T
    Participant

    The roughly $118 that each person would hypothetically receive would not provide a long-term solution to poverty. What I find more interesting, though, is that the worth of 100 US Dollars is relative. In the US and other industrialized countries, $100 is not much money. However, in third world countries with poor exchange rates, $100 could easily be somebody’s monthly income. Per the World Wealth Calculator (see http://www.worldwealthcalculator.org/ ), somebody making at least that much money is in the top 73.4% of all incomes.

    #26263
    edselehr
    Participant

    Consider Bacon’s math logic: as the rich get richer, their concentration of wealth would become *less* outrageous because as the ratio increase (“8:4 billion, or 8:5 billion) Bacon would argue “that’s only $26 per person, so that’s not that much”.

    The important number is 3.6 BILLION PEOPLE in the world having as much as these eight – and that the disparity is INCREASING. Bacon’s dismissiveness of that fact says a lot about him and his ilk.

    #26264
    LurkingGrendel
    Participant

    Republican Jesus loves rich people and hates the poor.

    #26265
    edselehr
    Participant

    null

    #26266
    Andy Brown
    Participant
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