Three recent reports provide the gory details about massive and growing wealth inequality in Canada

19% would be the complacent middle class 🤮

  • Scotty@scribe.disroot.org
    7 found this helpful·
    3 months ago

    According to the World Inequality Index, between 1999 and 2024, the top-1% in Canada grew their wealth from 26% to 29%.

    In the same period in other countries, the top-1% changed their wealth:

    • in Australia and New Zealand, more or less unchanged at around 23%
    • in Europe, more or less unchanged around 25%
    • in the USA, grew from 31% to 35%
    • in China, grew from 19% to 30%
    • in Russia, grew from 40% to 49%
    • in Latin America, unchanged at around 36%
    • Oceania, grew from 24% to 27%
    • Sub-Saharan Africa, shrank from 38% to 34%

    Worldwide, the top-1% share was stable at around 37%.

    In the same period 1999-2024, the wealth of the bottom-50% in Canada slightly shrank from 15% to 14%. In other countries:

    • in Australia and New Zealand, more or less unchanged at around 5%
    • in Europe, more or less unchanged around 3%
    • in the USA, grew from 0.6% to 1%
    • in China, shrank from 14% to 6%
    • in Russia, shrank from almost 7% to less than 3%
    • in Latin America, unchanged at 2%
    • Oceania, decreased from 3% to 2%
    • Sub-Saharan Africa, slightly increased from below 2% to 2.1%

    Worldwide, the bottom-50% grew their share of the total wealth slightly from 7% to 8%.

    Source for the top 1%, here for the bottom 50%.

    You can play around in the linked diagrams for other countries and regions.