Saturday, February 26, 2011


According to Ed Wolff, an N.Y.U. economist who tracks wealth, the very rich have improved their lot in life by getting richer. Half a million U.S. households (one-half of 1% of the population) now own 39.3% of all assets (stocks, bonds, cash, life-insurance policies, paintings, jewelry, etc.). This makes the U.S. No. 1 among prosperous nations in the inequality of income.
Time Magazine (Jan 30th 1995)
Found in Gerald Celente's Trends 2000, published 1998

1 comment:

  1. This quote is posted not so much to bash "capitalism" but to bash the "corporate capitalism" that the US has. True capitalism actually reduces the inequality of income and can be seen throughout the history of free markets. This quote was posted as an indicator that the US is not really as free of a market as we once were or as the intelligentsia would say we are.