Rich Indians Own 40% of Wealth in Extreme Inequality Under Modi
(www.bloomberg.com)
from alphacyberranger@sh.itjust.works to world@lemmy.world on 22 Mar 2024 12:19
https://sh.itjust.works/post/16622426
from alphacyberranger@sh.itjust.works to world@lemmy.world on 22 Mar 2024 12:19
https://sh.itjust.works/post/16622426
#world
threaded - newest
For quality, I think it would be quite sensible to include figures from a few other countries. These findings mean very little when they lack context; we need to know how they compare to other big economies like the US, UK, Germany, Italy, Russia, China (if you can get accurate data on Russia and China), and Japan.
USA top 1% holds 30.6%
Rich Unitedstatians Own 30% of Wealth in Extreme Inequality
Top 10% in the US hold 70% and the bottom 50% hold 1%, that is still pretty gross.
financebuzz.com/us-net-worth-statistics
that’s insane
Time for a revolution.
Alternative headline: “Indian wealth hoarding run amok; inequality eclipsing even United States”
That’s a fair comparison, and would give me the appropriate “Oh shit!” that this headline just didn’t offer.
Even a single, well-known point of reference makes it better. We all know world income inequality is absolutely nuts. But to pick out a particular one needs at least some kind of reference point (unless it’s an Indian article for Indian people, like an article from the U.S. for the U.S.).
I couldn’t agree more if I tried 🤜🤛
I would love to see how wealth inequality was viewed (so if it was culturally acceptable) and distributed in older Indian governments.
me too, this was probably coming for a long time. it didnt just magically get like this.
Probably was not much different. My guess is it jumped from like 35% to like 40%. Important thing I see is GDP per capita is growing steadily, wish there was something government was doing to combat equality more, but I don’t trust for a second alternative government’s would address this either.
That’s why they’re all moving to California!
All according to plan.
Idk about ya’ll, but I see no shortage of useful idiots proud to sell themselves out to avoid conflict with the ruling class or their cognitive dissonance.
I genuinely have no hope for this generation.
Richest 1% own that 40%, for everyone’s reference. Rest of the article is pay walled or something, not showing up on my reader.