According to the data global elites got even richer while the Middle Class and poor lost wealth during the myriad lockdowns, job closures, and other hysterical coronavirus policies inflicted on the world.
The new World Inequality Report released on Tuesday found that the rich now possess 3.5 percent of household wealth in the world, up from only 2 percent in 2020, Reuters reported.
“The COVID crisis has exacerbated inequalities between the very wealthy and the rest of the population,” lead author Lucas Chancel said.
but even as the rich got richer, the world’s various pandemic policies pushed 100 million people into extreme poverty, raising the global number of poor people to 711 million.
The report drew on a variety of specialist research and public domain data, with a foreword written by U.S.-based economists Abhijit Banerjee and Esther Duflo, two of the trio who won a 2019 Nobel for work on poverty.
“Since wealth is a major source of future economic gains, and increasingly, of power and influence, this presages further increases in inequality,” they wrote of what they called an “extreme concentration of economic power in the hands of a very small minority of the super-rich.”
The report is based on more than four years of work by more than 100 researchers around the world.
Forbe’s also found that the rich got way richer during the age of pandemic hysteria. Recently the magazine published its annual list of billionaires and found that the number of super rich had grown to a never-before-seen 2,755 billionaires with a combined worth of $13.1 trillion, up from $8 trillion last year.
So, tell me… how is the left all about the little guy, again?
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