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30 Dec 2022  (464 Views) 
International economy

Inequality dropped in 2022
How did it happen?

The collapse in the stock and crypto markets has wiped out $12 trillion of wealth. Divided by 8 billion people in the world, the average loss is $1,500 USD per person. 

The top 1% own 43% of the global wealth. The same 1% will bear 43% of the $12 trillion loss. (I suspect that the loss of the top 1% will be more than 43%).

So, inequality will drop in 2022. But, it will still be quite bad.

Tan Kin Lian


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