Since 1980, 28% of new income from global GDP growth has gone to the richest 1%.
In other words, nearly a third of all the labour we’ve rendered, all the resources we’ve extracted, and all the CO2 we’ve emitted over the past half century has been done to make rich people richer.
In other words, nearly a third of all the labour we’ve rendered, all the resources we’ve extracted, and all the CO2 we’ve emitted over the past half century has been done to make rich people richer.
And in case you think the rest is distributed evenly amongst everybody else... 48% of new income from global growth over the past four decades has gone to the richest 5%.
When people say we need more growth at all costs, we must remember who it primarily benefits.
When people say we need more growth at all costs, we must remember who it primarily benefits.
Source: World Inequality Database.
