Here’s Yet Another Reason to Believe in Skyrocketing Income Inequality

Continuing on our theme of the day, here’s the total net worth of the Forbes 400 list of the world’s richest people:

This might actually understate things since it’s a global list, not just an American one. But even at that, the wealth of the world’s richest people has gone up nearly 5x in the past 35 years.

My point in putting up all these charts today isn’t to prove that income inequality has gone up any particular amount. It’s just to show that there are lots of data points which simply aren’t consistent with the notion that income inequality has hardly gone up at all. You can look at the sluggish incomes of the middle class; the rising wealth of the top 1 percent; the skyrocketing wealth of the top 0.01 percent; or any number of other things, and they all point in the direction of income inequality that’s doubled or tripled or more over the past four decades. Given all this, it’s simply not plausible to argue that there’s nothing going on.

MOTHER JONES NEEDS YOUR HELP

We have about a $170,000 funding gap and less than a week to go in our hugely important First $500,000 fundraising campaign that ends Saturday. We urgently need your help, and a lot of help, so we can pay for the one-of-a-kind journalism you get from us.

Learn more in “Less Dreading, More Doing,” where we lay out this wild moment and how we can keep charging hard for you. And please help if you can: $5, $50, or $500—every gift from every person truly matters right now.

payment methods

MOTHER JONES NEEDS YOUR HELP

We have about a $170,000 funding gap and less than a week to go in our hugely important First $500,000 fundraising campaign that ends Saturday. We urgently need your help, and a lot of help, so we can pay for the one-of-a-kind journalism you get from us.

Learn more in “Less Dreading, More Doing,” where we lay out this wild moment and how we can keep charging hard for you. And please help if you can: $5, $50, or $500—every gift from every person truly matters right now.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate