Capitalism BUT, THEN inequality
A very short story
Let’s imagine a story.
This story is made-up, but yet true.
Two years ago, you and 99 friends and acquaintances decide to construct an apartment building for all of you to live in. It will have 100 rooms, enough for each of you to have his own room.
You work hard, and now the apartment building is ready.
But, then
You live two or three per room, instead of having one each. And one guy has 63 rooms all to himself. You have no idea what he does with all of them, but they are his and he is not sharing.
What happened?
During the years since 2020, $26 trillion (63 percent) of all new wealth was captured by the richest 1 percent, while $16 trillion (37 percent) went to the rest of the world put together (source: Survival of the Richest Report from Oxfam)
For every 100 new dollars, the richest 1% took 63 dollars and everyone else split 37 dollars.
Or put differently, for a new building with 100 rooms, one guys will get 63 rooms and the other 99 people have to squeeze into 37 rooms.
If you want to learn more depressing inequality stats, check out the Oxfam report and the inequality stats and chart on OurWorldInData.