“Capital in the Twenty First Century” by Pikkety is the source. This is an exhaustive study of the US, UK, France and occasionally Germany property and income statistics on Income distribution and Wealth distribution. These are things generally neglected by economists.
It is a difficult, because of the statistics, and a long read and very depressing but worth it. It will provide the Left with dangerous economic and financial arguments backed by this data in the years to come. Twenty per cent of income goes to the top 1% with about half the population barely scraping by. It need not be said that such a situation is politically very politically explosive.
According to this source about 1,500 billionaires own close to 40% of all private wealth. Occasionally a new member joins this group i.e. Bezos, Gates. But the basis of actual wealth is the rock of inherited wealth. It is consistent with the numbers from the rest of the world.
“Pikkety is the source.“
Poor, and liberal, source...
False too.