1% of World’s Population Controls 50% of Total Global Wealth

Democracy Now! 14 October 2015

A new report by Credit Suisse says the wealthiest 1 percent of the world’s population now controls 50 percent of total global wealth. This is the most extreme concentration of wealth the bank has ever recorded. In contrast, the report shows average household wealth has fallen 17 percent in Latin America and 12 percent in Europe, amid austerity programs.

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