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Canajun Finances Home » 40% of the World’s Wealth owned by 1% of the Population

40% of the World’s Wealth owned by 1% of the Population

I love that kind of headline, it is from the CBC’s website, and the article associated with it is quite interesting to read. The report is from 2006, so the concept of the One Percent who owns most is not a new concept.

In terms of Canadians, it is pointed out that:

It took more than $500,000 US to be among the richest one per cent of adults in the world, according to the report.
Canada’s net worth per capita came in at $70,916 US, putting it just ahead of Denmark.

I can assure you I am not part of the top 1% and am hard-pressed to reach the Canadian average in real money too. What does this all mean? The difference between “Western” countries and developing nations is MASSIVE. I agree with that wholeheartedly. People are fighting to get clean water, and I complain about having to put snow tires on my car. However, what does this report say we should do about it? Nothing, it just reports the facts, allowing politicians to bandy this information. Maybe aid organizations could use it, but what is the data suitable for?

In this season of Christmas, remember to give to those who are needy.

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