Richest 1% on target to own two-thirds of all wealth by 2030

Re:Richest 1% on target to own two-thirds of all wealth by 2030 by whb07 on Saturday April 07, 2018 @02:54PM (#16782160)

It’s not a static group. Those in the 1% are not the same group over the following years. This has been well established.

For another simple example, look at the Fortune 500 of today vs 20 years ago. Very few companies remain, it’s still very much fluid.

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Re:Richest 1% on target to own two-thirds of all wealth by 2030 by sp0rk on Saturday April 07, 2018 @04:01PM (#16782560)

> For another simple example, look at the Fortune 500 of today vs 20 years ago. Very few companies remain, it’s still very much fluid.

To my eyes, your statement seems to be completely false.

http://archive.fortune.com/magazines/fortune/fortune500_arch...

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Re:Richest 1% on target to own two-thirds of all wealth by 2030 by whb07 on Saturday April 07, 2018 @06:54PM (#16783510)

Ooh nitpicking! Okay, I’ll bite, so let’s just go through the top 10 from 1998 and 2017 to see if there is any dynamism or if it’s a static body like you’re suggesting.

1998, 2017: 1) GM, Walmart 2) Ford, Berkshire Hathaway 3) Exxon, Apple 4) Walmart, Exxon 5) GE, McKesson 6) IBM, United health 7) Chrysler, CVS 8) Mobil, GM 9) Altria, ATT 10) ATT, Ford

Wow, outstanding ! As you can see there are a number of companies that are new, dropped lower ranking, moved up in ranking, and completely disappeared.

We could keep going even further back a decade and the changes will be more visible. There’s a few companies who are entirely gone from the top 10, and I can guarantee that none of them wanted that outcome.

So to you, I say, got any more nitpickings?

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Re:Richest 1% on target to own two-thirds of all wealth by 2030 by psyc on Saturday April 07, 2018 @02:56PM (#16782167)

I think it's more relevant that the vast majority will never be in the group, than that the group's roster changes.

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Re:Richest 1% on target to own two-thirds of all wealth by 2030 by zip1234 on Saturday April 07, 2018 @03:28PM (#16782352)

By definition, only 1% of people can be in the 1%...

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Re:Richest 1% on target to own two-thirds of all wealth by 2030 by yazaddaruvala on Saturday April 07, 2018 @03:45PM (#16782457)

*At any given time

You could have a contrived round robin system where 100% of people eventually end up with 100% of the wealth.

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