On wealth gaps

This image from the World Economic Forum shows the huge gap between rich and poor.

“The richest 10% of the global population currently take home 52% of the income. The poorest half of the global population? Well they earn just 8%.

On average, an individual from the top 10% will earn $122,100, but an individual from the bottom half will earn just $3,920 per year

And, when it comes to wealth (valuable assets and items over and above income), the gap is even wider. The poorest half of the global population owns just 2% of the global total, while the richest 10% own 76% of all wealth.”

It’s sad but true. Even the Bible says that those who have will be given more and those who don’t have even the little they have will be taken away.

Capitalism is an efficient machine in producing wealth but creates huge gaps between the wealthy and poor. Capitalism tends to disproportionately reward people who own the means of production (labour, technology, systems, land, equipment, etc.).

Therefore, the best strategy to thrive in the capitalist economy is to become a capitalist yourself.