At no previous moment in world history has the gap between the rich and poor been as wide as today. As an important, newly-released report reveals, this growing class divide exists in virtually every nation on earth.
A 2006 study by the World Institute for Development Economic Research of the United Nations University, establishes that as of 2000, the upper 1 percent of the globe’s adult population, approximately 37 million people, who average about $515,000 in net worth per person, and collectively control roughly 40 percent of the world’s entire wealth. By contrast, the bottom one-half of the planet’s adult population, 1.85 billion people, most of whom are black and brown, own only 1.1 percent of the world’s total wealth. There is tremendous inequality of wealth between nations, the U.N. report notes.