Capitalism Explained (using a collage)
Channel: Daily Insight
Date: 2017-12-03

Capitalism is about making profit – and lots of it! So we’ve go this situation where a few people have a lot of the wealth, and the actual people who do stuff, i.e. the workers, can squabble over the rest.

But there’s a problem emerging. The wealth divide between rich and poor is growing. The world’s rich are getting richer. The global distribution of wealth is extremely skewed. The top 1% hold 50.1% of all the world’s wealth. The top 5% hold 76.4%! That’s astounding. The bottom 50% of the world only hold 0.6% of the world’s wealth. Unbelievable! This is what capitalism has created – huge wealth disparity and a rising underclass.

The top 0.1% hold as much wealth as the bottom 90%. And it’s only getting worse. The last time that such wealth disparity has occurred before was just before The Great Depression of 1929 to 1939. Slowly but surely, wealth got back into the hands of the many. But it looks like we’re making the same mistake again. We’re allowing the wealthy to horde all the wealth again and it can only end in disaster.

To answer the question, “What is capitalism?”, or at least, “What is modern capitalism?. The answer is simple. A few rich guys – lots of money. The rest of us – a little bit of money to squabble over. As time goes on: Rich guy – more money. The rest of us – less money.

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RELATED LINKS
Wealth Inequality
https://inequality.org/facts/wealth-inequality/
Stop Coddling the Super-Rich
http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html
Global Inequality
https://inequality.org/facts/global-inequality
The Great Depression
http://www.history.com/topics/great-depression
Beijing's smog: A tale of two cities
http://edition.cnn.com/2017/01/15/health/china-beijing-smog-tale-of-two-cities/index.html
Tragedy of the commons
https://en.wikipedia.org/wiki/Tragedy_of_the_commons
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http://www.abc.net.au/news/2017-11-07/paradise-papers-why-tax-avoidance-matters/9123850

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