Wealth of the top 1% is about to exceed that of bottom 90%. Time for a Piketty refresher? Money quote: In the 18th and 19th centuries western European society was highly unequal. Private wealth dwarfed national income and was concentrated in the hands of the rich families who sat atop a relatively rigid class structure. This system persisted even as industrialisation slowly contributed to rising wages for workers. Only the chaos of the first and second world wars and the Depression disrupted this pattern.
Posted on: Wed, 12 Nov 2014 14:48:11 +0000
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