The wealthy control almost all the money

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Based on a research study done by the WIDER (World Institute for Development-Economics Research) at the United Nations University claims that in the 21st century, the richest 1% adults alone own about 40% of the global assets ($53 trillion), and the richest 10% adults account for 85% of the world’s wealth.

The developed parts of the world, the U.S. and Europe, control significant amounts of global wealth despite having just a small ratio of the world population. Even Australia doesn’t lag behind, with 1.123 million individuals who are millionaires and the median wealth of Australia’s adult population is the highest in the world at $219,500. Whereas, in the developing markets (where the majority of world population resides), the primary sources of wealth creation are economic growth and savings.

What’s the reason behind this wealth disparity in the world? It’s because the rich people get richer and accumulate more wealth, given their access to insane amounts of money and resources. Whereas, the rest of the population spends a large majority of their pay check on utilities, food, credit card bills, medical care and other costs of daily lives, which means there is little to invest elsewhere.

© | This article first appeared on on 21 October 2013.

The ImageMaker
The ImageMaker
The ImageMaker is a blog that provides short, succinct articles reviewing the key editorial, commentary and opinion pieces in the major international news outlets each week with specialised commentary from an image / brand management and entrepreneurship perspective. Our coverage ranges from front-page news, to Business, Economy, Tech & Science, Life & Culture and anything else that we see fit to comment on. The ImageMaker is also a place for dialogue - we feel that news services today should be interactive and should involve readers. That’s why we offer a prominent space on every page for our regular readers, for up-and-coming players in politics, business, sport or entertainment, and for people who find themselves in interesting places at interesting times, to share their views. Stay informed, and save time.
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