Building Wealth During Covid

File under, The Rich get richer…

From Oxfam Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years;

“The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today.“

and

“A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent.“

Wealth inequality is likely inevitable, but rising wealth inequality is unsustainable. As a smaller percentage of humans accumulate more of the wealth generated by society, there is less left over for a sustainable economy for the rest of humanity. Various policies are proposed but with wealth goes power, so getting the policies in place and acted upon has been and probably will be difficult, until something more painful impacts us.