Oxfam "Richest 1% will own more than all the rest by 2016"

This really is shocking, isn't it? A tiny number of oligarchs, bankers and oil sheiks owning the same as the rest of us put together?

Eh, not really.

1% of the world's adult population is 47,000,000 people

To get into that group, you need US$800,000 in assets, or about €700,000.


Oxfam Report

Credit Suisse Global Wealth Report 2014 (on which Oxfam does its calculations)

Irish Times report "
Number of Irish millionaires hits 90,000 as property prices surge"

If we have 90,000 millionaires in Ireland, we probably have around 200,000 with assets over €700,000.

Another thing about these percentage figures... on paper it's more unequal if I have a car worth 20k and someone else has a car worth 200k; than the comparison of 20k car versus no car. But in reality, the real gap is between having a car and not having one... ditto for roof over head, food, access to health care, education etc etc
I'm only concerned about these kind of figures where it represents a qualitative difference.

odyssey06 said:

Another thing about these percentage figures... on paper it's more unequal if I have a car worth 20k and someone else has a car worth 200k; than the comparison of 20k car versus no car. But in reality, the real gap is between having a car and not having one... ditto for roof over head, food, access to health care, education etc etc
I'm only concerned about these kind of figures where it represents a qualitative difference.

Click to expand...

Excellent point!

This is the huge problem with quoting statistics to illustrate a fixed opinion. We become capitivated by the headline small/large comparative which is largely irrelevant to the point being put forward. I.e. 80% of people who expressed an opinion stated that their cats preferred Kato Cat Food!!! ergo Kato must be great stuff!! etc etc.

44brendan said:

This is the huge problem with quoting statistics to illustrate a fixed opinion. We become capitivated by the headline small/large comparative which is largely irrelevant to the point being put forward. I.e. 80% of people who expressed an opinion stated that their cats preferred Kato Cat Food!!! ergo Kato must be great stuff!! etc etc.

Click to expand...

.............
I dislike statistics , consider this.

Since 5.3 million Americans live in areas prone to flooding, statistically their houses are of NIL value.
Anomalies like this skew statistics .

Ergo , Global warming caused Piracy to increase.

26% of the world’s population is children. They have no measurable wealth. In sub-Saharan Africa the average birth rate per woman is 5.2 children so statistically the concentration of wealth is narrower.
Take a family with 6 children and one earner. Statistically the all of the wealth is concentrated in 16.66% of the members.
Lies, damned lies and statistics.

A person on the minimum wage in the UK is in the Top 10%. And probably anyone on benefits in the UK.

So where would that put people working for the minimum wage in Ireland?

http://www.forbes.com/sites/timwors...uk-minimum-wage-does-put-you-in-world-top-10/

Brendan

You can check where you are in the rankings with this calculator:

How rich am I?

Vinny Brown will spend the evening playing with this tool until he gets an angle. I wonder will he use the one where I put in Spain in order to get the Euro and I put in the JSA for an adult @ €188 per week puts them in the 12.3% richest category of the worlds population or 9.8 times the Global average. €39,000 per year puts you into the top 1% as a single person. ?????????????????????????????????????????????.