How the pandemic has multiplied the billionaires even the bad ones….

Even the Financial Times has realized that the pandemic has done something wrong in the distribution of value among people after the covid and has dedicated an article on how the pandemic has allowed a further step forward in economic and social inequality.

Not that the phenomenon of increasing differences had not already been in motion for some time, as we have written several times, also thanks to the cancellation of intermediate managers in industrial companies which marked the class of medium-wealthy employees by dividing a handful of very wealthy managers and the rest in the proletariat. A phenomenon that started in the 70s.

The FT did a good calculation, evaluating how much GDP of a country was controlled by billionaires in 2020 and 2021. In Russia nearly 40% of GDP is now controlled by billionaires, but Nordic and egalitarian, apparently, Sweden is not much less. India in third place, with the greatest relative increase linked to the pandemic, then France, Taiwan, the most balanced, China and gradually all the others.

The research goes even further in analyzing the origin of this wealth of billionaires: from inheritance, from a "Positive" wealth, that is from manufacturing or technology, or "Negative", that is, from real estate investments or mining or oil concessions, which they suggest corrupt or similar relations with the government.

European countries see inherited wealth, there is no longer a social lift, with France leading the way, followed by Indonesia, Sweden and Italy. If you think that the "Bad" billionaires are the Russians you are wrong, they are the Mexicans, while the "Good" billionaires; from manufacturing, are those of Taiwan, followed by the Chinese and Koreans.

In which country the richest man controls the economy the most. Do you think Russia or some country on American? Wrong: this country is Spain, where Amancio Ortega (Zara, to name one) has a personal wealth equal to 5.3% of GDP.

Carlos Sim (telephony) also controls a wealth equal to 5.3% of Mexican GDP and Bernard Arnault 5.1% of French GDP. . Three super rich in their countries that obliterate everyone else, in the rest of the world.

Here is what we have left: a world in which a few super rich have, alone, one twentieth of the wealth of their countries and let's not talk about San Marino, for example. A world that has jumped back two hundred, if not three hundred years in justice, returning directly to pre-industrial society.

---

---

The article How the pandemic has multiplied the billionaires even the bad ones…. comes from ScenariEconomici.it .

---

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/come-la-pandemia-ha-moltiplicato-i-miliardari-anche-quelli-cattivi/ on Sat, 15 May 2021 16:08:00 +0000.