rich get richer

Doug Henwood dhenwood at panix.com
Sun May 24 18:21:35 PDT 1998


[This multiply forwarded post bounced because its header was too long.]

May 17, 1998 The Toronto Star By Dalton Camp

Surprise: Rich getting richer, poor poorer

.... snip ........

In a new book coming soon to bookstores

near you, James Laxer writes about The

(Penguin) being waged now

between the two remaining classes in

society - a dominant class and a dominated

one.

StatsCan published last year a study

showing that 1996 average incomes of the

poorest fifth of Canadian families fell by

more than 3 per cent, while the incomes of

the richest 5 per cent increased by almost

2 per cent.

Or put another way: The three wealthiest

Americans - Gates, Warren Buffett and John

Walton (and family) - have more combined

assets ($94 billion U.S.) than 50 million

of the poorest Americans. In purely

financial assets, the same three have a

combined wealth worth as much as that of

the poorest 100 million Americans.

``Welcome to cyber capitalism,

American-style,'' Laxer writes.



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