Why 1% of rich earn more than the 99% of people?

 


Recent research conducted by Oxfam, notable British Charitable organization has found out that the top 1% of the world's richest people have taken 63% of the wealth generated during the covid era (between 2020 and 2022).

https://www.oxfam.org/en/press-releases/richest-1-bag-nearly-twice-much-wealth-rest-world-put-together-over-past-two-years

Moreover the 26 richest individuals of the world own more money than the lower 50% of the world it is almost a 3.8 billion people.

https://news.kbs.co.kr/mobile/news/view.do?ncd=4125437

Why this thing happens? People who follow the 'meritocracy' and Neoliberal economics might argue this is a natural phenomena because this small rich people is more talented than other. Maybe not all things they are saying is wrong. But their wealth was not made by the talent. The problem of the modern society is the wealth is making the wealth. The capital invests too much in assets. As I said two thirds of the wealth created after 2020 went to the top 1%. During the 2020-2022 wealth was created mainly in the food and energy industries, and 84% of this wealth goes to wealthy shareholders who owns the asset. This is the capitalism that we are living in. And this is why the top 1% earn more than 99%. 

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