The global concentration of capital is extreme: The richest 10% own around 60-80% of wealth, the poorest half less than 5%, according to just published World Inequality Report.
Economic growth does *not* lead to a more equal world.
While what we need to increase equality, combat the climate emergency and create the conditions for a good life for all is private sufficiency and public luxury, the opposite has been happening
You think we all benefit from economic growth?
Of all the additional wealth accumulated with the economic growth since 1995, the richest 1% took 38% whereas the bottom 50% captured just 2%, according to new World Inequality Report.
In fighting the climate emergency, we need to concentrate on the emissions of the global top 10%. #degrowth
Watch this ⬇️ It shows who benefits from economic growth and why current growth increases inequality - a trend exacerbated by the pandemic.
To end inequality, we need redistribution and a cap on wealth and income, not more economic growth.
The country reports are also very interesting. Here's some analysis for Germany: The top 10% of the population is responsible for six times the per capita CO2 emissions than the bottom 50%
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