Richest 1% amassed almost two-thirds of new wealth created since 2020

Re:Richest 1% amassed almost two-thirds of new wealth create... by Shared404 on Monday January 16, 2023 @03:14PM (#34404965)

> If the wealth captured isn’t real, meaning it can’t be realized in any normal sense (outside of big numbers on a screen) does it matter?

I would argue yes. Not because there's more wealth, but because it means that a greater percentage of the existing wealth is going to the largest 1%.

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Re:Richest 1% amassed almost two-thirds of new wealth create... by calr on Monday January 16, 2023 @03:22PM (#34405046)

I think I see what your saying. Wealth creation is dilutive on a relative basis, meaning in 2019 the lower/middle class had X% of the total wealth. By “creating” a bunch of new wealth the denominator grows and on a relative basis the middle/lower class becomes less wealthy.

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Re:Richest 1% amassed almost two-thirds of new wealth create... by Shared404 on Monday January 16, 2023 @03:26PM (#34405081)

That is both what I meant, and a better method of phrasing it. Thanks!

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