One has to ponder how the world is going to address the ever-increasing chasm between the rich and the poor and the haves and have-nots. Take the position in the USA as detailed in this piece "Our Growing Racial Wealth Gap" in truthout - save for the dimension of the Afro-American community - and the landscape in America is replicated in many Western nations around the globe.
"The vast chasm between the richest one percent of Americans and everyone else continues to widen, and researchers have found that when you factor race into the equation, the economic gap is even more pronounced.
A recent Urban Institute report finds that the racial wealth gap — measured as the difference in wealth accumulated by white Americans and black and Latino Americans — is the largest it has ever been since the Federal Reserve started tracking it. In 1983, for every dollar held by the average black or Latino family, the average white family had five. In the aftermath of the financial meltdown and the Great Recession that figure today has increased to six dollars. The figures for the median post-recession family — a measure less skewed by America’s handful of superrich — are even further apart: in 2010, for every dollar held by the median black or Latino family, the median white family had eight."
"The vast chasm between the richest one percent of Americans and everyone else continues to widen, and researchers have found that when you factor race into the equation, the economic gap is even more pronounced.
A recent Urban Institute report finds that the racial wealth gap — measured as the difference in wealth accumulated by white Americans and black and Latino Americans — is the largest it has ever been since the Federal Reserve started tracking it. In 1983, for every dollar held by the average black or Latino family, the average white family had five. In the aftermath of the financial meltdown and the Great Recession that figure today has increased to six dollars. The figures for the median post-recession family — a measure less skewed by America’s handful of superrich — are even further apart: in 2010, for every dollar held by the median black or Latino family, the median white family had eight."
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