Friday, July 29, 2011

Numbers, the economy and our rich people.

The fact that our richest 150 people have increased their net worth by a significant amount has been floating around for a day or so. Something like 38 billion to 45 billion. Which is roughly roughly 20%. Danyl asks the question quite nicely I think. The rest of the economy hasn't grown by anywhere near that much. With the global economy only just coming out of a rescission, where did all that money come from? Tim at Pundit follows up with a nice column, asking if the rich getting richer is what we want to use as our sole method of judging success. Which, personally, I think is a good question to ask. By the way, it's a seriously screwed up method of judging success imho, especially when it means concentrating a set amount of wealth in fewer hands rather than the growth of wealth of everybody. Concentrating the wealth is patently a bad thing, it leaves the poor worse off. Growing the wealth of everybody makes it a meaningless measure. It's only used as a measure by some because it's easy and they're lazy. 

No comments:

Post a Comment