Inequality has increased since the 1970s. The share of national income and the total wealth that goes to the top 10%, 5%, 1%, .1% and .001% has has gone up. And it continues to go higher. We haven’t seen levels like this since the Gilded Age.
The top 10% now owns 61.9% of all US wealth, up from about ~50% in 1989, while the next 10% now owns 11.9% and the bottom 80% now owns 26.8%, down from ~37% in in 1989. The top .1% owns the same as the bottom 90%, about 22% of net household wealth for the first time since pre-WWII. We’re experiencing a massive shift in wealth. And it’s getting redistributed up the ladder. (more…)
Ever since I started writing here, I’ve done a year end post summarizing what I’ve done in the past year. These posts are mostly for me, so that I can look back and remember what I did, what I was thinking and what was important to me each year. Previous versions (2000s, 2009, 2010, 2011, 2012, 2013, 2014). Here’s what I did in 2015.
I rang in 2015 on a cold night in Wisconsin with friends and family, then went back to Chile to get back to summer. In 2015 I was in Chile for about 9 months, the least I’ve spent in Chile since 2011. It was an eventful year that took me to nine countries for work and fun. Looking back, I think 2015 can be distilled down to two main themes. Focus + Growth, and Reconnecting.
The posts are long, but if you take the time to read them, they’re completely worth it. Urban’s descriptions and analogies are amazing and really help explain what’s going on to someone who didn’t know anything about the subject before hand. Here’s some notes (and highlights) from the AI posts. (more…)