New Tally of Global Wealth Illuminates Staggering Disparities

[babsbunny]

New Tally of Global Wealth Illuminates Staggering Disparities

http://www.alternet.org/economy/148549/new_tally_of_global_wealth_illuminates_staggering_disparities

October 21, 2010
Who owns, right now, the wealth of the world? Until just over a week ago, we really didn’t have much in the way of specifics for an answer.

The United Nations University in Helsinki, in 2006, did try to tally household assets for the entire world. But that UN University World Institute for Development Economics Research report didn’t cover data from any year beyond 2000.

Now two of the scholars behind that 2006 report, Anthony Shorrocks and Jim Davies, have joined with the Credit Suisse Research Institute in Zurich to produce an even more ambitious global wealth tally, current all the way into 2010.

[rucky]

1. This is blowing my mind:

Middle class consumers in China and other fast-growing economies, as Credit Suisse private banking research chief Giles Keating predicts, will soon “replace indebted U.S. households as the global economic growth locomotive.

That locomotive, the Credit Suisse wealth report prognosticates, will move the world in the right direction. Sums up the study: “In time, we expect and hope that the distribution of the world’s wealth becomes more even.”

[maxsolomon]

2. it's telling that they don't question "growth"

in humans, endless growth is a disease - metastisizing cancer, or gigantism.

resources are finite, the carrying capacity of the planet if finite. "growth" cannot be infinite.

[billlll]

3. if growth is in value of better gadgets, can rise w/out

Depleting earth.

But u are right viz things like food, water et. World diGging a bit into food reserves now, I read.

Why wd that bank... In news for tax evasion? or was it WW2 nazi loot ?...
Why they want more equal wealth?

Genuinely puzzled Bill

Answer anyone?

[rucky]

4. kick