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world finance and global economy

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Jun
25th
Fri
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Millionaires' Riches Return to Pre-Crisis Levels, Study Finds - Bloomberg

There are 10 million millionaires in the world (~0.2% of world population) holding a $40 trillion wealth, about $4 million each on average.
Tags: finance   economics   wealth  
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Nov
13th
Fri
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You can become wealthy by creating wealth or by appropriating wealth created by other people. When the appropriation of the wealth of others is illegal it is called theft or fraud. When it is legal, economists call it rent-seeking.
— Very insightful article on rent seeking vs wealth creation by John Kay: FT.com / Columnists / John Kay - Powerful interests are trying to control the market
Tags: economics   market   concentration   rent-seeking   wealth  
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