This video posted on Facebook presents interesting facts about the world’s population, wealth and earnings.
The facts come from the CIA Factbook.
A summary of the most pertinent global population statistics:
1. ca. 15% earn less than 2 USD / day
2. ca. 56% earn between 2 and 10 USD / day
(These are the poorest and most vulnerable to technological advances.)
3. ca. 7% earn 50 USD / day or more
(These have mostly those jobs most likely to survive technological advances.)
4. ca. 1% control 50% of the world’s wealth!
Ca. 7% of the world’s population have attended college / university!
Now, it is true that many achieve high incomes and wealth without university education, yet the correspondence between this 7% figure and those 7% earning 50 USD / day or more cannot be a complete accident.
As jobs vulnerable to advancing technology run out, there will be a massive increase in wealth inequality and poverty.
This situation is actually poison to free market capitalism, which requires customers able to afford product and services!
It will also drive billions to despair. Billions who have little lose in demanding change!