02 February 2011

Wealth gap widens between super rich and rest

From the BBC:

But even as the global economy has grown overall, within countries, the gap between rich and poor has increased.

This winner-take-all phenomenon has been particularly stark in the US, where, between 2002 and 2007, 65% of all income growth went to the top 1% of the population.

But the divide has also widened in Britain, Canada, Germany and Scandinavia.

It has increased in the booming emerging markets, too - communist China now has a gap between rich and poor as big as that of the laissez-faire US.