The world's richest 2% of adults own more than half of global household wealth, while half the world's population own only 1%, a United Nations report published on Tuesday showed.

"The study finds wealth to be more unequally distributed than income across countries," Anthony Shorrocks, director of the Helsinki-based World Institute for Development Economics Research of the United Nations University that published the report, said at a press conference.

article: [URL]http://www.mg.co.za/articlepage.aspx?area=/breaking_news/breaking_news__international_news/&articleid=292476[/URL]

study: [URL]http://www.wider.unu.edu/research/2006-2007/2006-2007-1/wider-wdhw-launch-5-12-2006/wider-wdhw-press-release-5-12-2006.htm[/URL]

Re: Where you at? UN: World's richest 2% own half global wealth

Is this supposed to be some kind of huge reveleation? :idea:

Duh. ;)

[QUOTE] To be among the most affluent 10% of adults required $61 000 dollars in assets, while more than $500 000 dollars was needed to belong to the richest 1%. [/QUOTE]

$61,000 in assets = top 10% of the world?

That's not a lot of money. One of my cars costs more than that. :roll: There's millions of people in the USA with way more personal assets than that.

This study is more of a testamonial on how large the world population is, and how non-capitalistic economies are failures.

Re: Where you at? UN: World's richest 2% own half global wealth

Or meat for the reallocation people.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=subterFUSE;417566]Is this supposed to be some kind of huge reveleation? :idea:

Duh. ;)

$61,000 in assets = top 10% of the world?

That's not a lot of money. One of my cars costs more than that. :roll: There's millions of people in the USA with way more personal assets than that. [/quote]

don't be so sure about that. alot of people own homes and cars, which make up the majority of an averagae middle class person's wealth...but how many of them own their homes outright? when you take into account the huge debt of a mortgage, many people who look wealthy at first-glance are really in the red due to their mortgage...

Re: Where you at? UN: World's richest 2% own half global wealth

^You bet...they should rank it by debt loads instead of assets.

Re: Where you at? UN: World's richest 2% own half global wealth

darwinism at work. the stupid ppl cant survive, let them die. it worked so far in regards to the earth's population of creatures. stop trying to prevent it with all these social programmes and diplomacy. only the strong survive.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=subterFUSE;417566]Is this supposed to be some kind of huge reveleation? :idea:

Duh. ;)

$61,000 in assets = top 10% of the world?

That's not a lot of money. One of my cars costs more than that. :roll: There's millions of people in the USA with way more personal assets than that.

This study is more of a testamonial on how large the world population is, and how non-capitalistic economies are failures.[/quote]

Did I say this was revelation? stfu and try to be constructive - this is the latest report on this topic and was released this week. btw I don't care about what you or your cars are worth and no, this report does not have an political agenda - it is supposed to be a UN report, go search for the definition of what the UN is

Re: Where you at? UN: World's richest 2% own half global wealth

If you're too blind to see that the West itself is using any weakness in other states' systems and is extremely agressive in promoting it's own economic interests, then please pick up some reading material on it Sean, instead of playing the darwinism card. That only goes when you're talking of reasonably equal circumstances, not when you're looking at a skim of $500 BILLION a year by the West of African tax revenues, or the constant mingling of US politics in South American affairs. Read the economist, or the financial times...they'll give you some interesting material on this.

Re: Where you at? UN: World's richest 2% own half global wealth

yet again, NY sarcasm goes unnoticed. too bad, im in that upper tier, and im not going away anytime soon, i work for what i get and too bad to those who dont.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=thesightless;418235]yet again, NY sarcasm goes unnoticed. too bad, im in that upper tier, and im not going away anytime soon, i work for what i get and too bad to those who dont.[/quote]

we can all count our blessings that we happened to be born where we were...if our lives had begun in a different place, there may not ever have even been an opportunity to achieve material comfort through hard work.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=Miroslav;418329]we can all count our blessings that we happened to be born where we were...if our lives had begun in a different place, there may not ever have even been an opportunity to achieve material comfort through hard work.[/quote]

i was born in a bad neighborhood in queens NY, lived in a ghetto until i was 5, my parents were poor. my father grew up poor in brooklyn, my mother was one of 8 living in a 3 bedroom house in ireland. dont tell me about being born into a situation. my father stayed in college after i was born, earned a degree, got an apartment in a decent Long island area, and worked his ass off to put himself where he is. he didnt give me a penny, i pay my own college loans, bills, always have. when i want something, i work overtime. again, no pity here, NY has its fair share of poor places, im from one of them.

Re: Where you at? UN: World's richest 2% own half global wealth

yeah, but don't even try to compare the poor places here in the US to the poor places in any of the third world countries (developing countries for PCness). What the poor in the US have is the equivalent of middle class in many of those other poorer countries. So our opportunities are multiplied exponentially just by being born in the US.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=rubyraks;418596]yeah, but don't even try to compare the poor places here in the US to the poor places in any of the third world countries (developing countries for PCness). What the poor in the US have is the equivalent of middle class in many of those other poorer countries. So our opportunities are multiplied exponentially just by being born in the US.[/quote]

A testamony to the complete failure of non-capitalistic economies. 8)

Re: Where you at? UN: World's richest 2% own half global wealth

yes, everything is black or white, capitalism is the only way to go - infidels should be preached the hard way

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=RiseandShine;418658]yes, everything is black or white, capitalism is the only way to go - infidels should be preached the hard way[/quote]

who can honestly deny the benifits of capitalism at this point? every coutry that has embraced it has benifitted. look at post stalin russia, all of europe, most of the americas.... places without it...... well, it stands for itself. you cannot generate wealth on a national scale in any other system unless you own oil.

Re: Where you at? UN: World's richest 2% own half global wealth

Did I say I was against it? you guys need to mellow down a little bit here Capitalism is great and probably the most successful thing out there - but it needs to be mixed down with local ways of behaving - I don't believe in the 200% capitalist model - I know you do

Re: Where you at? UN: World's richest 2% own half global wealth

No one's denying the benefits of capitalism...it's just a little difficult to get corrupt self-serving governments to implement it when all they want is personal wealth and don't give a shit about the people who live in those countries.

Re: Where you at? UN: World's richest 2% own half global wealth

to bad 98% of the world doesn't come together to take the money from the 2%.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=runningman;418907]to bad 98% of the world doesn't come together to take the money from the 2%.[/quote]

Bring it on. :lol:

Re: Where you at? UN: World's richest 2% own half global wealth

What is the true definition of capitalism? To me it means the freedom to work both hard and smart and to benefit financially from that, and to use that benefit as we see fit. That's a good thing. I think the problem is that capitalism has come to mean that cheating, lying [sorry, misrepresentation!] using others less smart then ourselves, are all acceptable ways to gain financial benefit.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=DIDI;418975]What is the true definition of capitalism? To me it means the freedom to work both hard and smart and to benefit financially from that, and to use that benefit as we see fit. That's a good thing. I think the problem is that capitalism has come to mean that cheating, lying [sorry, misrepresentation!] using others less smart then ourselves, are all acceptable ways to gain financial benefit.[/quote]

The basic answer is this:

Capitalism is a form of economy where private individuals own businesses. It is the opposite of Communism, which is where the government owns all businesses. Socialism is a hybrid of Capitalism & Communism, where some businesses are owned by the government and some remain privately owned.

The most notable aspect of capitalism is that it allows free-market forces to operate.... which generates competitive situations in the economy. Businesses vie for market share, and this pushes improvements in productivity. Wealth distribution is dictated by one's ability to compete within the system. Those who create and manage successful businesses are rewarded. Businesses that cannot compete will falter.

Re: Where you at? UN: World's richest 2% own half global wealth

If the wealth happened to be redistributed/taken and everyone got their fair share, it would eventually end up right back where it started.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=FM;419254]If the wealth happened to be redistributed/taken and everyone got their fair share, it would eventually end up right back where it started.[/quote]

History has proven time and again that communism does not work. Name a single instance where communism has been applied, and the public has benefitted.

Re: Where you at? UN: World's richest 2% own half global wealth

^^^ Communism is the perfect theory and as long as people are people it will never ever work :lol:

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=DIDI;419269]^^^ Communism is the perfect theory and as long as people are people it will never ever work :lol:[/quote]

The reason communism never works in real life is because there is no competition. Competition in a free-market economy pushes us to improve. We work hard because we believe that it will earn us more money. If everyone works and gets the same amount of payment from the government, then what incentive is there to work harder than the next guy? It basically comes down to an extension of our survival instincts. Self-preservation is a basic instinct for humans. While we are capable of caring for the good of the whole society, at the most basic level we all care primarily about ourselves. Capitalism is the economic model which most closely parallels this.

The only place on Earth where communism works is with social insects such as ants and bees. In a bee colony, each bee has it's role and works for the benefit of the hive. If threatened, the bees attack and fight to the death to preserve the colony. Self preservation is an alien concept to bees. It is because of this that the colony survives longer than any of it's inhabitants.

So.... unless you can find a group of humans with bee DNA spliced into their own, you will never see a successful communist system. ;)

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=runningman;418907]to bad 98% of the world doesn't come together to take the money from the 2%.[/quote]

i bet they would if they could.. look at the U.N its all about everyone ganging up on the west

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=dopla;419459]i bet they would if they could.. look at the U.N its all about everyone ganging up on the west[/quote]

The UN should be disbanded. It is a completely ineffective entity, mired in corruption, and beyond salvation.

Disband it. Then.... rebuild it anew if the world sees a need for it. But, at this point, it is too far gone to waste energy with it. Not in it's current state.

Re: Where you at? UN: World's richest 2% own half global wealth

^Agree with you on that one. I predict it will be gone in the next 15 years.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=thesightless;418502]i was born in a bad neighborhood in queens NY, lived in a ghetto until i was 5, my parents were poor. my father grew up poor in brooklyn, my mother was one of 8 living in a 3 bedroom house in ireland. dont tell me about being born into a situation. my father stayed in college after i was born, earned a degree, got an apartment in a decent Long island area, and worked his ass off to put himself where he is. he didnt give me a penny, i pay my own college loans, bills, always have. when i want something, i work overtime. again, no pity here, NY has its fair share of poor places, im from one of them.[/quote]

I don't mean to trivialize experiences you've had to overcome. Everyone has had to face challenges in their lives. I was referring to people who happened to be born into areas of the world that don't even have essential nutrition for survival, let alone an infrastructure that enables them to get ahead through work hard.

Re: Where you at? UN: World's richest 2% own half global wealth

[quote=Miroslav;419649]I don't mean to trivialize experiences you've had to overcome. Everyone has had to face challenges in their lives. I was referring to people who happened to be born into areas of the world that don't even have essential nutrition for survival, let alone an infrastructure that enables them to get ahead through work hard.[/quote]

thats the funny thing... the same people who cry and scream about the poor and unfortunate, are the same damn morons who scream and cry when a country goes to war to remove the corrupt government. wait until the world gets into it in darfur and somalia(again).

Re: Where you at? UN: World's richest 2% own half global wealth

Take your pick:

1. Capitalism = Corruption and misplaced power, World run by the banks

2. Communism = Dictatorship, Human Rights problems,

I don't like either of them to be honest.. its pretty sad that it would have been better for me to build a better gun then something that saves lives.. their is more push in an invention that kills rather then saves..

Re: Where you at? UN: World's richest 2% own half global wealth

like i said, you made a sick invention, call me when you need a silent partner with access to capital.