Guardian Editorial: The Guardian view on the 1%: democracy or oligarchy?

I found this editorial very interesting in terms of the way governments are shaping up and what impact this is having on the common man. ..

Concentrating too much wealth in the hands of the few will ultimately spell the end of government by the many

What happens to society where economic power is becoming concentrated in the hands of the few? The present might provide an unsettling answer. A tiny global elite is experiencing a great flourishing; the masses below them are, at varying rates, being left behind. Last week the landmark World Inequality Report, a data-rich project maintained by more than 100 researchers in more than 70 countries, found that the richest 1% reaped 27% of the world’s income between 1980 and 2016. The bottom half of humanity, by contrast, got 12%. While the very poorest people have benefited in the last 40 years, it is the extremely rich who’ve emerged as the big winners. China’s economic rise has lifted hundreds of millions out of poverty but the wealth share held by the nation’s top 1% doubled from 15% to 30%. Such has been the concentration of wealth in India and Russia that inequality not seen since the time of the Raj and the tsar has reappeared. By 2030, the report warns, just 250 people could own 1.5% of all the wealth in the world.

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