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General News    H3'ed 12/28/17

World's richest 500 see their wealth increase

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Jeff Bezos - The first $100 billion man?
Jeff Bezos - The first $100 billion man?
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Ultra-rich warned of ‘strike-back’ as global inequality hits a 100-year high and billions of poorer people see their earnings stagnate.

The world’s 500 richest people have increased their wealth by $1tn (£745bn) so far this year due to a huge increase in the value of global stock markets, which are likely to finish 2017 at record highs.

The big increase in the fortunes of the ultra-wealthy comes as billions of poorer people across the world have seen their wealth standstill or decline.

Most of this wealth is unearned income from rent-seeking or monopoly.

Read the rest of the story HERE:

At www.theguardian.com

 

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of articles for (more...)
 

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