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The rich get richer, the poor get poorer: but in-between…

21 September 2022

According to Credit Suisse, the world’s “one percenters” increased their control of the planet’s wealth from 43.9% in 2019, to 45.6 % in 2021. At the same time, the poorest 40% lost even more ground, from controlling 1.8% to… well… nothing: NEGATIVE 0.2%

Mexico is no exception, or… is a slight exception. Yes, the rich are getting richer and there are more millionaires (in dollar value) than ever before (258,000 of them), but they control less of the national wealth, their percentage of control falling from 42 % in 2000 to “merely” 30% now.

That the middle class is gaining ground (or at least a slightly less obscenely small portion of the national weath) probably is a good thing, although Mexico ranks #2 in wealth inequality in Latin America (behind Brazil).

What it all means, can’t say… the pandemic upset the whole system (the super-rich saw their wealth accumulate last year by something like 21 % !!!!!) and supposedly, the middle class (or the Mexican middle class) has a bit more in their pockets… though with inflation a peso just doesn’t go as far as it did.

Dora Villanueva, “Baja de 42 a 30% la riqueza nacional en poden de los más acaudalados“, Jornada 21 Sept 2022.

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