America has the greatest inequalities, highest mortality rate, most regressive taxes, and largest public subsidies for bankers and billionaires of any developed capitalist country.
In this essay we will discuss the socio-economic roots of inequalities and the relation between the concentration of wealth and the downward mobility of the working and salaried classes.
Back in 2010, as the global charity Oxfam reminds us in a new report released on the eve of Davos 2016, the world’s 388 richest billionaires had a combined fortune that equaled the net worth of the poorest half of the world’s population.
But last year just 62 top billionaires had enough net worth to match the wealth of humanity’s poorest half. That bottom half totals some 3.6 billion people.
