Inequality I: Net Worth

The great failure of capitalism is enormous inequality. Inequality has been rapidly growing in the US, and has recently reached levels never seen before. The richest man in the US has more than a million times the net worth of the median household. He had about 100,000 times as much as a 90th percentile household (top ten percent). He even has ten thousand times as much as as one of the top 1% households (99th percentile). The curve may steepen. A top 0.1% household (99.9 percentile) only has about 1/3000th of Richie Rich's wealth and even the 99.99th percenter has only 1/1000th as much.

The 1% are very rich compared to me and almost everyone I know, but in the grand scheme of things, the poorest slave in ancient Greece was economically closer to its richest man than a 0.1 percenter is to the richest American.


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