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The Second Gilded Age Is Here

posted by Fnord666 on Sunday October 29 2017, @08:01AM   Printer-friendly
from the goose-and-the-golden-egg dept.

Robotron writes:

Wealth inequality stands at its highest since the turn of the 20th century - the so-called 'Gilded Age' - as the proportion of capital held by the world's 1,542 dollar billionaires swells yet higher. The report, undertaken by Swiss banking giant UBS and UK accounting company PwC, discusses the roles technology and globalization play in the status quo, and appears two weeks after the IMF recommended that the rich should pay more tax to address the enormous disparity.

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  • (Score: 2) by The Mighty Buzzard on Sunday October 29 2017, @04:17PM (3 children)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Sunday October 29 2017, @04:17PM (#589077) Homepage Journal

    How'd that work out for Hillary? She outspent Trump by an enormous margin. Money's not as powerful as you think.

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  • (Score: 2) by fyngyrz on Sunday October 29 2017, @04:39PM (2 children)

    by fyngyrz (6567) on Sunday October 29 2017, @04:39PM (#589093) Journal

    How'd that work out for Hillary? She outspent Trump by an enormous margin. Money's not as powerful as you think.

    You're confusing "100% dependably powerful" with "powerful" again. :)

    • (Score: 1) by khallow on Sunday October 29 2017, @05:05PM (1 child)

      by khallow (3766) Subscriber Badge on Sunday October 29 2017, @05:05PM (#589112) Journal
      When merely inheriting wealth is considered a "monarchy", they are attributing a great deal more power to money than it actually has.

      • (Score: 2) by fyngyrz on Sunday October 29 2017, @05:10PM

        by fyngyrz (6567) on Sunday October 29 2017, @05:10PM (#589116) Journal

        Nah, they're just confused about what words mean. :)