Wednesday, June 21, 2006

Economic Totem Pole

The top 1% of the world's population owned more than the lowest 90% in about 2003. The top 1% of America owns more than the top 90%, and America has 5% of the population and owns about 25% of the world's resources.

0.05% of the world, the economic top 1% of America, owns about 15% of the world's resources.

Doing the math...

1/20 of 1%... 15%... = 20 X 15%. That is 300X more than their share. If you were 1/300 as rich as the wealthiest businessmen, you would be set for life. If everyone were that rich they would be set for life. There is enough stuff on earth for everyone to be set for life, within a normal economic framework.

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