Wealth Distribution

[silverghost]

From: Silver Ghost


I've seen and heard, on many occasions, that if all the wealth in all the world were to be distributed equally among all its fair citizens, within 20 years it would revert back to the current ratio of 20% of the people owning 80% of the wealth.... or something.

Has anyone got:
a) the exact stats, and
b) the source of this data / survey.

Thanks

SG

 

[Glenn]

Reply: 1
From: Glenn Mott


I dont think it would take 20 years...more like 5, max

Glenn

 

[stirling]

Reply: 2
From: Stirling Reid



I would be interested to know what is the total wealth of the world.
A survey of the wealthiest 400 US individuals showed that in 1999 22% inherited their wealth, indicating that the rest earned their wealth.
This compares with 32% inherited their wealth in 1984. The percentage of individuals that gained wealth in real estate in 1999 is only 3%.
Source:
http://www.foxexchange.com/public/fox/news/industry_trends/world_wealth_report_2000.pdf

Stirling

 

[WebBoard]

Reply: 2.1
From: Liz Skinner


Actually, I think your thread is one of the main arguments against communism.... I'm sure somewhere in my study of history and all I've read about Karl Marx et al., the main opponents have argued that if you did distribute money evenly as in a communist ideal, then people would find ways of increasing or decreasing their wealth (i.e. selling goods, trading, buying etc)... it most certainly is not a new concept! So i can't be more helpful than suggest you look into more political archives than necessarily financial!
Cheers,
Funky

 

[Tibor]

Reply: 2.1.1
From: Tibor Bode


Just a quick note. On one of the current affairs this week (I think it was on 7) they showed people who win on the lotto and what they have done with it. I was not surprised at all the the vast majority went for a spending splurge! so about 2 months later they will be able to show some DODADS and NO ASSETS for their luck. This is why the wealth would be going back to the people who learned delayed gratification and have a plan how to get the money from those who have not (sell the doodads to them, and they will be happy). Only problem that you NEVER will be able to buy ALL the stuff with the latest gizmo and there always be a newer, brighter, better doodads to spend your money on. JB and RK.

Tibor

 

[silverghost]

Reply: 2.1.1.1
From: Silver Ghost


Thank you all for your contributions but.. err.. all I was looking for were the exact stats and their source e.g. on what basis does Glenn M say 5 years rather than 20?

If data does not have a source or reference, then to me it's just pub talk.

Thanks anyway.
SG

 

[duncan_m]

Reply: 3
From: Duncan M


On 6/28/02 2:29:00 PM, Silver Ghost wrote:
>I've seen and heard, on many
>occasions, that if all the
>wealth in all the world were
>to be distributed equally
>among all its fair citizens,
>within 20 years it would
>revert back to the current
>ratio of 20% of the people
>owning 80% of the wealth....
>or something.
>
>Has anyone got:
>a) the exact stats, and
>b) the source of this data /
>survey.

Well, the world has never distributed its wealth equally, so the exact stats arent available..


Regards,

Duncan