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Visa policy of Taiwan
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This article requires immediate attention for image dispute. After reading the talk page, if you can help, please edit this page. (July 2017)
Visa sample of Taiwan
Entry and exit stamps issued to a national of Singapore at Taiwan Taoyuan International Airport.
Visitors to Taiwan must obtain a visa or authorization in advance, unless they come from one of the visa exempt countries or countries whose nationals are eligible for visa on arrival. All visitors must hold a passport valid for 6 months (except the citizens of Japan who can hold a passport valid for 3 months, and citizens of United States who are only required to hold a passport valid for the entire duration of stay).[1]
Taiwan has special entry requirements to current or former nationals of China who reside or previously resided in Mainland China.
Contents
[hide]
1 Right of abode
2 Visa policy map
3 Visa exemption
4 Visa on arrival
5 Permanent residents of Hong Kong and Macau
6 eVisa
7 APEC Business Travel Card
8 Online Travel Authorization Certificate
9 Nationals of the People's Republic of China who are Mainland residents
9.1 Restrictions for former nationals of People's Republic of China who were Mainland residents
10 Working Holiday Visa
11 Statistics
12 See also
13 References
14 External links
Right of abode[edit]
See also: National without household registration
Although the Republic of China (Taiwan) has only one type of nationality, not all ROC nationals have the right of abode in Taiwan. Under the Immigration Act, only those with household registration in Taiwan (nationals with household registration, or NWHRs) have the right of abode in Taiwan and can enter Taiwan without prior authorization. Holding one of the documents listed below is sufficient to demonstrate such status:[2]
A Taiwan passport with the individual's National Identification Card number on biodata page;
Valid National Identification Card, household registration certificate, or household registration certificate transcript accompanied by a valid Taiwan passport.
ROC nationals without household registration in Taiwan (NWOHRs) are ineligible to receive a National Identification Card. To enter Taiwan, one must, in addition to a Taiwan passport, hold one of the following documents:[2]
A valid or expired entry permit affixed on the passport; or,
A Taiwanese Resident Certificate.
NWOHRs holding documentations listed below can obtain an entry permit on arrival:[2]
An added signing on the passport stating one's overseas Chinese status, or a letter stating such status; or
A long-term residence (type F-2) or permanent residence (type F-5) Certificate of Alien Registration issued by South Korea.
Alternatively, they may enter Taiwan with their non-ROC passports without prior authorization if also having nationalities of a visa exempt country.
NWOHRs are subject to immigration control while in Taiwan, and can only remain in Taiwan for a limited time authorized by the entry permit or the immigration officer. Those without any of the above-listed documents will be denied entry to Taiwan.
Visa policy map[edit]
Visa policy of Taiwan
Visa exemption[edit]
Holders of passports of the following 60 jurisdictions do not require a visa to visit Taiwan for less than 90 days unless otherwise noted (duration of stay starts from the next day of arrival).[3][4][5] Extensions are not possible except for citizens of Canada and the United Kingdom, who may apply to extend the stay from 90 days to 180 days in accordance with the principle of reciprocity.[6]
The visa exemption does not apply for holders of emergency or temporary passports, except for citizens of United States. Other visa exempt nationals holding such passports, however, would still be able to apply for a visa on arrival.
All European Union citizens5
Andorra
Australia 3
Belize 1 7 8
Brunei 1 4 5
Canada
Chile
Dominican Republic 1
El Salvador
Guatemala 1
Haiti
Holy See
Honduras 7
Iceland
Israel
Japan
Liechtenstein
Malaysia 1
Monaco
New Zealand
Nicaragua
Norway
Paraguay
Philippines 2 4 5(from 1 November 2017)
Saint Kitts and Nevis 1 7 8
Saint Lucia 1 7 8
Saint Vincent and the Grenadines 1
San Marino
Singapore 1
South Korea
Thailand 1 4 5
Switzerland
United States
1 — 30 days
2 — 14 days
3 — temporary policy until 31 December 2017.
4 — temporary policy until 31 July 2018.
5 — holders of diplomatic and official passports are not eligible.
6 — for British passport holders, only British citizens enjoy visa-free entry.
7 — persons born in Mainland China are not eligible.
8 — persons born in Afghanistan, Iran, Iraq, Libya, Nigeria, Pakistan, Syria and Yemen are not eligible.
Stateless permanent residents of Brunei holding the Bruneian International Certificate of Identity (ICI) with a validity of at least 6 months are also exempt from visa requirement until 31 July 2018. The duration of stay is 30 days.[7][3]
Holders of normal passports issued by Philippines will be eligible for visa-free access from 1 November 2017 to 31 July 2018. The duration of stay will be 14 days per entry.[8]
In addition, holders of diplomatic or official/service passports of Belize, Burkina Faso, Dominican Republic, El Salvador, Guatemala, Honduras, Nauru, Nicaragua, Panama, Paraguay, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines and Swaziland do not require a visa for up to 90 days.
Visa on arrival[edit]
Nationals of the following countries can obtain a visa on arrival for a fee:[9]
Macedonia (30 days, NT$2,400)
Turkey (30 days, Free of Charge)
In addition, holders of emergency or temporary passports with validity of more than 6 months issued by visa-exempt countries are eligible for visa on arrival for a fee. The duration of stay is 30 days regardless of nationality and cannot be extended. This measure does not apply to holders of emergency or temporary passports issued by the United States as they are visa exempt.[9]
Visa on arrival is only available at Taiwan Taoyuan International Airport. For passengers arriving at Taipei Songshan Airport, Kaohsiung International Airport or Taichung Airport, they would be issued a temporary entry permit and will have to apply for a visa at the Bureau of Consular Affairs office or one of the offices of Ministry of Foreign Affairs in Taiwan at their earliest convenience. Failure to comply may result in a derogatory record.[9] Passengers arriving at ports of entry other than those listed above will be denied entry.
Permanent residents of Hong Kong and Macau[edit]
Permanent residents of Hong Kong and/or Macau, who are either Chinese nationals or British Nationals (Overseas), may be eligible for an Exit & Entry Permit upon arrival for NT$300 or may apply for an Entry Permit online at no cost to visit Taiwan for less than 30 days.[1]
The requirements are:
They were born in Hong Kong or Macau, or have entered Taiwan at least once as a permanent resident of Hong Kong or Macau and holding proofs of previous visits;
They hold one of the following travel documents:
Hong Kong Special Administrative Region passport
British National (Overseas) passport[Note 1]
Macao Special Administrative Region passport;
They do not hold passports issued by other nations or have additional nationalities (including other classes of British nationality). If they do, they are required to comply with visa requirements of their additional nationalities, except for Hong Kong residents who are allowed to have dual Chinese nationality and British National (Overseas) status (but not full British citizenship).[10]
First time applicants not born in Hong Kong or Macau are also able to apply for Exit and Entry Permit online from 8 February 2017. Unlike those qualified for the no-fee Entry Permit or Entry and Exit Permit on arrival, the applicants are required to pay a processing fee of NT$600. The processing time is 5 business days.[11] These visitors are required to hold their Hong Kong Permanent Identity Cards or Macau Permanent Resident Identity Cards, as well as their proof of previous visits to Taiwan, when applying for Exit and Entry Permits on arrival or the no-fee Entry Permits for subsequent visits.
Since 1 January 2017, Hong Kong and Macau residents are able to apply for double-entry Entry Permits online, providing that they are entering Taiwan by cruise for at least one portion of their trip.[12]
eVisa[edit]
Since 12 January 2016, the Ministry of Foreign Affairs of ROC started to implement the eVisa Program. Citizens of the following countries can apply for a single-entry eVisa to visit Taiwan for less than 30 days. The fee for each application is NT$1,632.[13][14] On 7 October 2016, the Ministry of Foreign Affairs of ROC further expanded the list of countries eligible to apply for eVisa.[15]
Bahrain
Burkina Faso
Colombia
Dominica
Ecuador
Kiribati
Kuwait
Macedonia*
Marshall Islands
Montenegro
Nauru
Oman
Palau
Panama
Peru
Philippines**
Qatar
Saudi Arabia
Solomon Islands
Swaziland
Turkey*
Tuvalu
United Arab Emirates
* - also eligible for visa on arrival.
** - until 31 October 2017.[16]
Nationals of the following countries may apply for a single-entry eVisa for a maximum stay of 30 days if they are travelling with an approved tour group:[17]
Cambodia
India
Indonesia
Laos
Myanmar
Philippines
Vietnam
Also, all foreign nationals except Chinese nationals who are invited by the Taiwanese government to attend international conferences, sports events, trade fairs or other activities organized, co-organized or sponsored by Taiwanese government agencies or certain NGOs are also eligible for an eVisa. Such applicants must obtain an e-code from their host organizations in Taiwan prior to applying for an eVisa.[18]
Nationals of the following countries are eligible for business eVisas if they have obtained recommendations from the local Taiwan External Trade Development Council since 1 June 2017.[19]
Bangladesh
Bhutan
India
Nepal
Pakistan
Sri Lanka
APEC Business Travel Card[edit]
Holders of passports issued by the following countries who possess an APEC Business Travel Card (ABTC) containing the code "TWN" on the back of the card can enter Taiwan visa-free for business trips for up to 90 days.[1] ABTCs are issued to nationals of:[20]
Australia
Brunei
Chile
Indonesia
Japan
South Korea
Malaysia
Mexico
New Zealand
Papua New Guinea
Peru
Philippines
Russia
Singapore
Thailand
Vietnam
ABTCs are also issued to nationals of China and permanent residents of Hong Kong, however Chinese nationals residing in Mainland China are subject to entry restrictions and cannot use the card to enter Taiwan. Chinese nationals permanently residing in Hong Kong are also ineligible and are required to obtain an Exit and Entry Permit.
Online Travel Authorization Certificate[edit]
Nationals of the following countries can apply for a no-fee Travel Authorization Certificate online for multiple visits to Taiwan, for a duration of no more than 30 days each visit during the certificate's 90-day validity period, if they have never been employed as a guest worker to Taiwan and have met the additional requirements listed below:[21]
Cambodia
India
Indonesia
Laos
Myanmar
Philippines1
Vietnam
1 - All certificates will be deemed invalid after 31 October 2017.[8]
They are required to hold a residential or visitor visa (including Visa Waiver Registration Certificates issued by Japan to Indonesian nationals, and e-Visas), or a residential certificate (including permanent residency) issued by the following countries. The visa can be either valid or expired, but it must not have expired for more than 10 years prior to the date of arrival in Taiwan. Holders of work permits as well as visas marked "void", "cancelled" or "cancelled without prejudice" are not eligible. In addition, travelers utilizing the scheme must also hold a return or onward plane or ship ticket and will be required to present it to the immigration officer.[22]
Australia
Canada
Ireland
Japan
New Zealand
Countries of Schengen Area
South Korea
Taiwan1
United Kingdom
United States
1 - excluding type FL and X visas.
Frequent visitors to Taiwan from these countries can also receive multiple entry visas with validity of two to five years.[23]
From 1 June 2017, nationals of these countries who have received a Taiwanese visa (other than a work visa) in the last 10 years are eligible for online registration.[19]
As all Filipino nationals will be exempt from visa requirements on 1 November 2017, they will no longer be able to register for the certificate from that day onwards. All certificates will no longer be valid for entry after 31 October 2017. Passengers entering Taiwan prior to 1 November 2017 are still allowed to stay for up to 30 days, while those entering Taiwan on or after that day can only stay for up to 14 days.[8]
Nationals of the People's Republic of China who are Mainland residents[edit]
Nationals of the People's Republic of China with residency (hukou) in Mainland China (including those who are non-permanent residents of Hong Kong or Macau and have relinquished their hukou in Mainland China) require prior approvals from Taiwanese government and are required to hold an Exit and Entry Permit prior to travelling to Taiwan.[24] As of August 2016, Mainland residents can only visit Taiwan as a part of a pre-approved tour group unless they qualify for one of the exemptions:
They have hukou in one of the 47 cities that are designated by the Taiwanese and Chinese authorities as eligible for individual tours;[25]
They reside outside Mainland China and hold temporary or permanent residence status in Hong Kong, Macau or a third country (prior approval from the Chinese authorities is not required when departing from a place other than Mainland China);[26] or,
They only visit Quemoy, Matsu and Penghu Islands (in which case a 15-day Exit and Entry Permit Permit can be obtained on arrival provided holding certain travel documents) and will not proceed to other parts of Taiwan.[27]
As of May 2016, Mainland resident visitors applying from Mainland China are subject to a daily quota imposed by Taiwan of 14,600 persons per day, with half of the quota available to individual tour applicants. Those who applied from Hong Kong, Macau or a third country are not subject to a quota.[28] It was reported that the Chinese authorities also has an unofficial "soft cap" on the numbers of individual and group tourists, ranging from 40% to 50% of the Taiwanese quota.[29]
All PRC nationals who are residents of Mainland China cannot travel to Taiwan on their passports when departing from Mainland China and must hold a Travel Permit to and from Taiwan (往來台灣通行證), colloquially known as Mainland Resident Travel Permit (大通證), issued by the Chinese authorities. The permit is a pink, passport-like travel document, and it must be used along with the appropriate exit endorsements (similar to exit visas).[24] Although travelling with the Mainland Resident Travel Permit is not mandatory when departing from Hong Kong, Macau or a third country, the Exit and Entry Permit itself is not a travel document but a de facto entry visa, and is usually tied to the document number of Mainland Resident Travel Permit or the Chinese passport, hence the travelers are still required to carry the travel document they used to apply for the Exit and Entry Permit when travelling to Taiwan.[30]
Since January 2016, Mainland residents are no longer required to hold a Mainland Resident Travel Permit if they depart from airports in Chongqing, Kunming or Nanchang and are only in transit through Taiwan to a third country. Otherwise, the Mainland Resident Travel Permit with exit endorsement is also required for transit through Taiwan if departing from Mainland China, but the Exit and Entry Permit is not required if the passengers do not pass immigration control in Taiwan and only remain airside.[31]
From 28 March 2017, Mainland Chinese residents are able to apply for the Exit and Entry Permit online if they are residing in a third country.[32]
Restrictions for former nationals of People's Republic of China who were Mainland residents[edit]
Although the aforementioned restrictions do not apply to former nationals of People's Republic of China with Mainland residency, they also face entry restrictions and are required to apply for an Exit and Entry Permit unless they meet the following requirements:[1]
They have resided outside of PRC for more than 4 years;
They have obtained the nationality of the country in which they reside in; and
They have lost their PRC nationality in pursuant to Article 9 of the Chinese nationality law.
If the requirements are met, they may enter Taiwan according to the visa requirements of the nationality they have acquired. However, documentations supporting the change in nationality, such as a naturalization certificate, is required.
Working Holiday Visa[edit]
Nationals of the following countries are eligible to apply for the Taiwanese working holiday visa (named as "Youth Mobility Scheme" for British and Canadian citizens) through Taiwanese diplomatic missions of their countries of nationality, if they are ordinary residents in their country of nationality and are within the age limits:[33][34][35]
Australia
Austria
Belgium
Canada
Czech Republic
France
Germany
Hungary
Ireland
Japan
New Zealand
Poland
Slovakia
South Korea
United Kingdom1
1 - for British citizens residing in United Kingdom only.[36]
Statistics[edit]
Most visitors arriving to Taiwan on short term basis were from the following countries of residence:
[show]Country / Territory
2016
2015
2014
2013
China 3,511,734 4,184,102 3,987,152 2,874,702
Japan 1,895,702 1,627,229 1,634,790 1,421,550
Hong Kong[37] 1,474,521 1,389,529 1,276,039 1,105,223
South Korea 884,397 658,757 527,684 351,301
United States 523,888 479,452 458,691 414,060
Malaysia 474,420 431,481 439,240 394,326
Singapore 407,267 393,037 376,235 364,733
Vietnam 196,636 146,380 137,177 118,467
Thailand 195,640 124,409 104,812 104,138
Indonesia 188,720 177,743 182,704 171,299
Total 10,690,279 10,439,785 9,910,204 8,016,280
Source: Tourism Bureau, Taiwan[38]
See also[edit]
Republic of China portal
Visa requirements for Taiwanese citizens
Taiwan passport
Exit & Entry Permit (Republic of China)
Foreign relations of Taiwan
References[edit]
Jump up ^ Under the Laws and Regulations Regarding Hong Kong & Macao Affairs, BN(O)s, regardless of ethnicity, are not treated as British nationals, but permanent residents of Hong Kong and Macau.
^ Jump up to: a b c d "Information - Chinese Taipei (TW)". Tiamtic. IATA.
^ Jump up to: a b c Immigration Reference Guide for Civil Carriers
^ Jump up to: a b "Visa-Exempt Entry". Bureau of Consular Affairs.
Jump up ^ "Taiwan grants visa-free treatment for Andorra, San Marino citizens - Politics - FOCUS TAIWAN - CNA ENGLISH NEWS".
Jump up ^ "MOFA announces visa-free treatment for nationals of 10 Latin American and Caribbean allies effective July 12". Ministry of Foreign Affairs, Republic of China (Taiwan). Retrieved 2017-07-12.
Jump up ^ Notice for British Passport Holders Who Entered Taiwan Visa-Free and Are Applying for an Extension of Stay Bureau of Consular Affairs, Ministry of Foreign Affairs Republic of China.
Jump up ^ "12月1日起 可停留30天 汶永久居民赴台免签证".
^ Jump up to: a b c "MOFA announces trial of visa-free treatment for Philippine nationals". Bureau of Consular Affairs. Ministry of Foreign Affairs, Republic of China (Taiwan).
^ Jump up to: a b c "Bureau of Consular Affairs, Ministry of Foreign Affairs - Landing Visas".
Jump up ^ "Laws & Regulations Database and The Republic of China".
Jump up ^ "香港、澳門永久居民申請入出境證". Bureau of Hong Kong Affairs. 2 June 2015.
Jump up ^ "中央網路報-兩岸交流".
Jump up ^ "Bureau of Consular Affairs, Ministry of Foreign Affairs - MOFA launches eVisa Program January 12".
Jump up ^ "Bureau of Consular Affairs, Ministry of Foreign Affairs - eVisa".
Jump up ^ "Taiwan includes nine more countries in e-visa program - Politics - FOCUS TAIWAN - CNA ENGLISH NEWS".
Jump up ^ "E-Visa online application will be no longer apply to Filipinos upon the implementation of the visa-free treatment as from Nov. 1, 2017". Retrieved 18 October 2017.
Jump up ^ "外交部進一步放寬東協國家國民來臺簽證措施 - 外交部領事事務局全球資訊網".
Jump up ^ R.O.C.(Taiwan) launches the eVisa Program on Jan. 12, 2016
^ Jump up to: a b "外交部宣布針對「新南向政策」目標國家實施進一步簽證放寬措施". Bureau of Consular Affairs (in Chinese).
Jump up ^ "ABTC Summary - APEC Business Travel Card".
Jump up ^ "Bureau of Consular Affairs, Ministry of Foreign Affairs - Online Application for R.O.C. (Taiwan) Travel Authorization Certificate (Applicable to citizens of India, Indonesia, Myanmar, the Philippines, Vietnam, Cambodia and Laos)".
Jump up ^ "Bureau of Consular Affairs, Ministry of Foreign Affairs - Amend Online Application for R.O.C. (Taiwan) Travel Authorization Certificate (Applicable to citizens of India, Indonesia, Myanmar, the Philippines, Vietnam, Cambodia and Laos)".
Jump up ^ 中央通訊社. "行政院拍板 簡化東協8國訪台簽證 - 重點新聞 - 中央社即時新聞 CNA NEWS".
^ Jump up to: a b 办理台湾自由行需知及台湾自由行个人注意事项
Jump up ^ 大陸地區人民來臺從事個人旅遊觀光活動線上申請須知
Jump up ^ 大陸地區人民自國外或香港澳門來臺從事觀光活動線上申請須知
Jump up ^ 內政部入出國及移民署 (16 December 2014). "公告大陸地區人民以旅行事由於入境金門、馬祖、澎湖時向內政部入出國及移民署申請發給臨時入境停留通知單，其適用對象、限制方式、人數及應備文件，自中華民國104年1月1日生效。".
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Jump up ^ "Bureau of Consular Affairs, Ministry of Foreign Affairs - Working Holiday (Youth Mobility) Scheme".
Jump up ^ "Bureau of Consular Affairs, Ministry of Foreign Affairs - Qualifications for Visa Applicants".
Jump up ^ "中華民國國民申請其他國家「度假打工(青年交流)簽證」參考資料 - 外交部領事事務局全球資訊網".
Jump up ^ "Bureau of Consular Affairs, Ministry of Foreign Affairs - Youth Mobility (The United Kingdom)".
Jump up ^ Visitor Arrivals, 2013-2016
Jump up ^ "Tourism Bureau, M.O.T.C. Republic of China (Taiwan) Visitor Arrivals by Residence". admin.taiwan.net.tw. Retrieved 2017-01-31.
External links[edit]
Bureau of Consular Affairs
IATA visa information
List of Taiwanese Diplomatic Missions
National Immigration Agency English Website
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Visa policies and requirements in Greater China
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Distribution of wealth
From Wikipedia, the free encyclopedia
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The distribution of wealth is a comparison of the wealth of various members or groups in a society. It shows one aspect of economic heterogeneity.
The distribution of wealth differs from the income distribution in that it looks at the economic distribution of ownership of the assets in a society, rather than the current income of members of that society. According to the International Association for Research in Income and Wealth, "the world distribution of wealth is much more unequal than that of income."[1]
Contents
[hide]
1 Definition of wealth
2 Conceptual framework
3 Available Data
3.1 Wealth surveys
3.2 Administrative data
4 Facts
4.1 Wealth distribution pyramid
4.1.1 Wealth distribution in 2012
4.2 21st century
4.2.1 Wealth inequality
4.2.2 Real estate
4.2.3 Credit Suisse Report – Wealth Distribution & Gini (2013)
4.3 In the United States
4.4 Additional data, charts, and graphs
5 Redistribution of wealth and public policy
6 See also
7 References
8 External links
Definition of wealth[edit]
Main article: Wealth
Wealth of an individual is defined as net worth, exposed as: wealth = assets − liabilities
A broader definition of wealth, which is rarely used in the measurement of wealth inequality, also includes human capital. Fro example, the United Nations definition of inclusive wealth is a monetary measure which includes the sum of natural, human and physical assets.[2][3]
The relation between wealth, income, and expenses is: :change of wealth = saving = income − consumption(expenses). If an individual has a large income but also large expenses, the net effect of that income on her or his wealth could be small or even negative. wealth is also should not be confused with rich. These two terms describe different but related things. Wealth consists of those items of economic value that an individual owns, while rich is an inflow of items of economic value. (See Stock and flow.)
Conceptual framework[edit]
There are many ways in which the distribution of wealth can be analyzed. One common-used example is to compare the amount of wealth of individual at say 99 percentile relative to the wealth of the median (or 50th) percentile. This is P99/P50, which is one of the potential Kuznet's ratios. Another common measure is the ratio of total amount of wealth in the hand of top say 1% of the wealth distribution over the total wealth in the economy. In many societies, the richest ten percent control more than half of the total wealth.
Pareto Distribution has often been used to mathematically quantify the distribution of wealth at the right tail (the wealth of very rich). In fact, the tail of wealth distribution, similar to the one of income distribution, behave like Pareto distribution but with ticker tail.
Wealth over people (WOP) curves are a visually compelling way to show the distribution of wealth in a nation. WOP curves are modified distribution of wealth curves. The vertical and horizontal scales each show percentages from zero to one hundred. We imagine all the households in a nation being sorted from richest to poorest. They are then shrunk down and lined up (richest at the left) along the horizontal scale. For any particular household, its point on the curve represents how their wealth compares (as a proportion) to the average wealth of the richest percentile. For any nation, the average wealth of the richest 1/100 of households is the topmost point on the curve (people, 1%; wealth, 100%) or (p=1, w=100) or (1, 100). In the real world two points on the WOP curve are always known before any statistics are gathered. These are the topmost point (1, 100) by definition, and the rightmost point (poorest people, lowest wealth) or (p=100, w=0) or (100, 0). This unfortunate rightmost point is given because there are always at least one percent of households (incarcerated, long term illness, etc.) with no wealth at all. Given that the topmost and rightmost points are fixed … our interest lies in the form of the WOP curve between them. There are two extreme possible forms of the curve. The first is the "perfect communist" WOP. It is a straight line from the leftmost (maximum wealth) point horizontally across the people scale to p=99. Then it drops vertically to wealth = 0 at (p=100, w=0).
The other extreme is the "perfect tyranny" form. It starts on the left at the Tyrant's maximum wealth of 100%. It then immediately drops to zero at p=2, and continues at zero horizontally across the rest of the people. That is, the tyrant and his friends (the top percentile) own all the nation's wealth. All other citizens are serfs or slaves. An obvious intermediate form is a straight line connecting the left/top point to the right/bottom point. In such a "Diagonal" society a household in the richest percentile would have just twice the wealth of a family in the median (50th) percentile. Such a society is compelling to many (especially the poor). In fact it is a comparison to a diagonal society that is the basis for the Gini values used as a measure of the disequity in a particular economy. These Gini values (40.8 in 2007) show the United States to be the third most dis-equitable economy of all the developed nations (behind Denmark and Switzerland).
More sophisticated models have also been proposed.[4]
Available Data[edit]
Wealth surveys[edit]
Many countries have national wealth surveys, for example:
The British Wealth and Assets Survey
The Italian Survey on Household Income and Wealth
The euro area Household Finance and Consumption Survey
The US Survey of Consumer Finances
The Canadian Survey of Financial Security
The German Armuts- und Reichtumsbericht der Bundesregierung
Administrative data[edit]
Facts[edit]
Main articles: List of countries by distribution of wealth and List of countries by income equality
Share of wealth globally by year[5]
The gap between the rich and poor can be illustrated by the fact that the three wealthiest individuals in the world have assets that exceed those of the poorest 10 percent of the world's population.[citation needed] The net worth of the world's billionaires increased from less than $1 trillion in 2000 to over $7 trillion in 2015 so the gap is growing up dramatically.
Wealth distribution pyramid[edit]
Personal wealth varies across adults for many reasons. Some individuals with little wealth may be at early stages in their careers, with little chance or motivation to accumulate assets. Others may have suffered business setbacks or personal misfortunes, or live in parts of the world where opportunities for wealth creation are severely limited. At the other end of the spectrum, there are individuals who have acquired a large wealth through different ways. In Western countries, the most typical way of becoming wealthy is entrepreneurship (estimated three quarters of new millionaires). Other typical way (covering most of the remaining quarter) is pursuing a career with the end goal of becoming a C-level executive, a leading professional in a specific field (such as a doctor, lawyer, engineer) or a top corporate sales person. Only around 1 % of new millionaires acquire their wealth via other means such as professional sports, show business, art, inventions, investing, inheritance or lottery. The wealth pyramid below was prepared by Credit Suisse in 2013; it captures these differences in striking detail. It has a large base of low wealth holders, alongside upper tiers occupied by progressively fewer people. In 2013 Credit-suisse estimate that 3.2 billion individuals – more than two thirds of adults in the world – have wealth below 10,000 USD. A further one billion(adult population) fall within the 10,000 – 100,000 USD range. While the average wealth holding is modest in the base and middle segments of the pyramid, their total wealth amounts to USD 40 trillion, underlining the potential for novel consumer products and innovative financial services targeted at this often neglected segment.[6]
The pyramid reveals that:
half of the world's wealth belongs to the top 1%,
top 10% of adults hold 85%, while the bottom 90% hold the remaining 15% of the world's total wealth,
top 30% of adults hold 97% of the total wealth.
Pyramid of global wealth distribution in 2013[6]
Wealth distribution in 2012[edit]
According to the OECD in 2012 the top 0.6% of world population (consisting of adults with more than 1 million USD in assets) or the 42 million richest people in the world held 39.3% of world wealth. The next 4.4% (311 million people) held 32.3% of world wealth. The bottom 95% held 28.4% of world wealth. The large gaps of the report get by the Gini index to 0.893, and are larger than gaps in global income inequality, measured in 2009 at 0.38.[7] For example, in 2012 the bottom 60% of the world population held same wealth in 2012 as the people on Forbes' Richest list consisting of 1,226 richest billionaires of the world.
21st century[edit]
At the end of the 20th century, wealth was concentrated among the G8 and Western industrialized nations, along with several Asian and OPEC nations.
Wealth inequality[edit]
A study by the World Institute for Development Economics Research at United Nations University reports that the richest 1% of adults alone owned 40% of global assets in the year 2000, and that the richest 10% of adults accounted for 85% of the world total. The bottom half of the world adult population owned 1% of global wealth.[8] Moreover, another study found that the richest 2% own more than half of global household assets.[9]
Real estate[edit]
While sizeable numbers of households own no land, few have no income. For example, the top 10% of land owners (all corporations) in Baltimore, Maryland own 58% of the taxable land value. The bottom 10% of those who own any land own less than 1% of the total land value.[10] This form of analysis as well as Gini coefficient analysis has been used to support land value taxation.
Credit Suisse Report – Wealth Distribution & Gini (2013)[edit]
This table was created from information provided by the Credit Suisse, Research Institute's "Global Wealth Databook", published 2013.[11]
Country
Adults
(1,000s)
Wealth per
adult (USD)
Proportion of adults (%) by wealth range (USD)
Gini
(%)
Mean
Median
Under 10k
10k – 100k
100k – 1M
Over 1M
Total
Denmark 4,190 255,066 57,675 39.5 17 37.8 5.7 100 107.7
Russian Federation 110,365 10,976 871 93.7 5.6 0.6 0.1 100 93.1
Ukraine 35,912 3,413 419 97.4 2.3 0.2 0 100 90
Kazakhstan 10,958 7,161 1,176 93.1 6.3 0.6 0.1 100 86.7
Lebanon 2,953 30,868 6,076 66.8 29.8 3.2 0.3 100 86.3
United States of America 239,279 301,140 44,911 30.7 33 30.7 5.5 100 85.1
Zimbabwe 6,690 2,913 479 93.9 5.8 0.3 0 100 83.8
Turkey 51,687 25,909 5,326 67 30.3 2.5 0.2 100 83.7
South Africa 31,034 19,613 3,051 72.3 24.9 2.6 0.1 100 83.6
Hong Kong 6,052 153,312 32,384 30.3 49.7 18.3 1.7 100 83.1
Philippines 56,730 8,799 1,849 88.1 11.1 0.8 0.1 100 82.9
Indonesia 157,869 11,839 2,393 81.1 17.6 1.3 0.1 100 82.8
Thailand 49,642 7,772 1,855 90.5 8.8 0.6 0 100 82.6
Venezuela 18,991 6,900 1,505 90.9 8.5 0.6 0 100 82.5
Brazil 135,385 23,278 5,117 66.6 30.5 2.7 0.2 100 82.1
Malaysia 18,382 27,007 5,831 61.4 35.3 3.1 0.2 100 81.5
Chile 12,461 49,032 11,742 45 48 6.6 0.4 100 81.4
India 767,612 76,092 1,040 94.4 5.2 0.3 0 100 81.3
Switzerland 6,101 512,562 95,916 5.2 46 38.8 10 100 80.6
Sweden 7,299 299,441 52,677 15.6 48.3 29.2 6.9 100 80.3
Egypt 52,710 7,285 1,852 90.4 9 0.6 0 100 80.3
Nigeria 80,462 3,620 894 94.9 4.9 0.3 0 100 80
Colombia 30,464 26,222 6,228 60.2 35.8 3.9 0.2 100 79.7
Seychelles 54 60,003 14,617 40 50 9.2 0.8 100 79.6
Argentina 28,265 15,638 4,032 72.1 26.1 1.7 0.1 100 79.6
Saudi Arabia 16,694 37,346 9,772 53.3 41.1 5.3 0.3 100 79.3
Namibia 1,256 19,899 4,531 67.5 28.3 4.2 0.1 100 78.7
Israel 4,947 137,351 38,164 30 44.8 23.7 1.5 100 78.7
Comoros 388 2,872 670 93.8 6.1 0.2 0 100 78.7
Cyprus 694 119,568 34,874 23.8 56.3 18.6 1.4 100 78.3
Mexico 73,380 35,872 9,718 53.5 40.6 5.7 0.3 100 78
Norway 3,733 380,473 92,859 19.4 32.5 40.6 7.5 100 77.8
Libya 4,291 28,397 6,563 58.1 35.7 6 0.1 100 77.7
Botswana 1,181 10,348 2,649 81 17.6 1.4 0 100 77.2
Germany 67,068 192,232 49,370 29 33.3 35.1 2.6 100 77.1
Haiti 5,813 3,532 960 92.3 7.5 0.2 0 100 76.1
Angola 9,273 14,708 3,934 69.1 28.8 2.1 0 100 75.6
Central African Republic 2,370 800 241 99.1 0.9 0 0 100 74.8
Bolivia 5,800 4,604 1,368 89.3 10.4 0.3 0 100 74.4
Zambia 6,151 1,817 548 96.8 3.2 0 0 100 74.1
Czech Republic 8,437 44,975 15,541 40 53.2 6.4 0.3 100 74
Singapore 3,955 281,764 90,466 20 34.2 41.4 4.4 100 73.9
Kuwait 2,291 119,101 42,897 21.8 55.5 21.5 1.2 100 73.8
Poland 30,255 26,056 9,109 55 41.5 3.3 0.1 100 73.7
Taiwan 18,359 151,752 53,336 22.5 45.1 30.8 1.7 100 73.6
Netherlands 12,914 185,588 83,631 23.3 30.9 43.6 2.2 100 73.2
Belize 188 9,998 3,130 76.3 22.6 1.1 0 100 73.1
Suriname 344 14,250 4,544 68.8 29.6 1.6 0 100 73
Nicaragua 3,424 3,432 1,147 92.5 7.3 0.1 0 100 73
Romania 16,692 14,044 5,137 69.3 29.2 1.4 0.1 100 73
Lesotho 1,079 3,457 1,105 92.4 7.5 0.1 0 100 72.9
Paraguay 3,910 10,934 3,726 73.2 25.6 1.3 0 100 72.8
Swaziland 628 4,360 1,393 90 9.8 0.2 0 100 72.7
Panama 2,322 22,292 7,509 57.3 38.5 4.2 0 100 72.7
Rwanda 5,306 723 245 99.3 0.7 0 0 100 72.7
Sao Tome and Principe 86 2,721 959 94.3 5.7 0.1 0 100 72.7
Canada 27,173 251,034 90,252 30 21.5 44.9 3.7 100 72.7
South Korea 38,350 79,475 30,938 25.3 59.5 14.5 0.7 100 72.6
Papua New Guinea 3,752 8,470 2,821 81.1 18 0.8 0 100 72.4
Cape Verde 295 16,313 5,478 65 32.5 2.5 0 100 72.3
Antigua and Barbuda 63 19,011 6,281 58.8 38.3 3 0 100 72.2
Costa Rica 3,246 28,124 9,532 54.1 40.2 5.7 0.1 100 72.2
Dominica 50 24,086 8,349 55 40.3 4.7 0.1 100 72
St. Kitts and Nevis 34 23,613 8,185 56.3 39.1 4.6 0.1 100 71.9
St. Vincent and the Grenadines 71 10,196 3,492 73.8 25.1 1.1 0 100 71.9
Grenada 67 14,473 5,017 67.5 30.7 1.7 0 100 71.9
New Zealand 3,234 182,548 76,607 25.6 34.1 38.1 2.3 100 71.8
Ecuador 8,723 12,350 4,403 69.8 28.8 1.4 0 100 71.4
El Salvador 3,738 12,039 4,483 70 28.7 1.3 0 100 71
Ireland 3,488 183,804 75,573 20.9 36.5 40.4 2.2 100 70.9
Kenya 20,757 2,843 1,049 94.2 5.7 0.1 0 100 70.9
Oman 1,872 48,415 18,152 40 47.8 12 0.2 100 70.8
Peru 18,865 18,227 6,705 58.5 38.9 2.6 0 100 70.8
Gambia 908 864 324 99.2 0.8 0 0 100 70.8
Congo-Brazzaville 2,024 3,892 1,420 91.2 8.6 0.1 0 100 70.8
United Arab Emirates 3,777 126,791 51,882 20 50.6 28.2 1.3 100 70.5
Qatar 1,278 153,294 58,237 25 38.3 35 1.7 100 70.5
Portugal 8,614 89,074 38,846 25.8 54.8 18.7 0.8 100 70.1
Mozambique 11,441 811 313 99.3 0.7 0 0 100 70
Jamaica 1,719 11,401 4,393 70 28.8 1.2 0 100 69.9
Uruguay 2,400 47,002 17,998 39.6 48.3 11.9 0.2 100 69.8
Uganda 15,107 750 294 99.4 0.6 0 0 100 69.6
DR Congo 31,854 321 124 99.9 0.1 0 0 100 69.6
China 998,254 22,230 8,023 58.4 39.1 2.4 0.1 100 69.5
Madagascar 10,359 448 177 99.8 0.2 0 0 100 69.4
Guyana 474 3,801 1,506 91.6 8.3 0.1 0 100 69.2
Fiji 523 6,473 2,630 85 14.6 0.4 0 100 69
France 48,124 295,933 141,850 21.7 22.9 50.8 4.6 100 69
Barbados 200 22,289 8,108 55 41.5 3.5 0 100 69
Eritrea 2,781 2,125 875 96.3 3.7 0 0 100 68.9
Macedonia, FYR 1,561 11,543 4,743 69.3 29.6 1.1 0 100 68.8
Sierra Leone 2,897 681 273 99.6 0.4 0 0 100 68.8
Ghana 13,501 1,811 743 97.7 2.3 0 0 100 68.6
St. Lucia 119 13,087 5,296 66.3 32.5 1.2 0 100 68.5
Tunisia 7,452 21,084 8,823 55 41.5 3.5 0 100 68.2
Gabon 869 21,860 9,240 55 41.3 3.7 0 100 68.2
Solomon Islands 298 9,868 4,261 73.8 25.3 1 0 100 68.1
Morocco 21,355 11,398 4,750 70 28.9 1.1 0 100 68.1
Côte d'Ivoire 11,501 2,640 1,104 95 4.9 0.1 0 100 68.1
Sri Lanka 14,326 5,033 2,101 87.9 11.9 0.2 0 100 68
Turkmenistan 3,352 36,570 15,305 40 52.1 7.8 0.1 100 68
Georgia 3,172 21,640 9,178 54.7 41.8 3.5 0 100 68
Togo 3,693 2,450 1,049 95.6 4.3 0 0 100 67.9
United Kingdom 48,220 243,570 111,524 18 28.8 50 3.2 100 67.7
Mauritania 1,832 1,967 865 97 3 0 0 100 67.7
Burkina Faso 7,721 1,273 543 98.7 1.3 0 0 100 67.7
Djibouti 508 3,465 1,488 92.8 7.2 0.1 0 100 67.5
Chad 5,485 1,131 483 99 1 0 0 100 67.5
Trinidad and Tobago 987 15,088 6,459 60 38.5 1.5 0 100 67.4
Malawi 7,417 207 89 100 0 0 0 100 67.3
Guinea 5,301 882 380 99.4 0.6 0 0 100 67.3
Iceland 253 211,592 104,733 20 30 47.3 2.7 100 67.3
Tonga 54 15,905 7,217 58.8 39.8 1.5 0 100 67.2
Senegal 6,423 2,597 1,125 95.3 4.7 0 0 100 67.2
Cameroon 10,459 2,603 1,115 95.2 4.8 0 0 100 67.2
Vanuatu 138 6,068 2,753 85 14.7 0.3 0 100 67.1
Benin 4,733 3,187 1,398 93.6 6.3 0.1 0 100 67.1
Samoa 92 34,537 15,132 40 53 6.9 0.1 100 67
Cambodia 9,151 2,644 1,155 95 4.9 0 0 100 67
Yemen 12,192 4,951 2,193 88.3 11.6 0.2 0 100 66.8
Iran 53,270 8,727 3,846 75 24.4 0.6 0 100 66.8
Liberia 2,118 2,173 987 96.5 3.5 0 0 100 66.7
Tanzania 22,038 951 423 99.3 0.7 0 0 100 66.6
Laos 3,618 5,393 2,411 86.7 13.1 0.2 0 100 66.5
Lithuania 2,537 23,411 10,635 47.5 48.5 3.9 0 100 66.5
Myanmar 34,180 2,214 941 97 3 0 0 100 66.4
Finland 4,195 171,821 95,095 29 22.3 47.2 1.6 100 66.4
Maldives 210 5,556 2,480 85 14.8 0.2 0 100 66.3
Bahamas 242 41,106 17,842 35 55.9 9 0.1 100 66.2
Spain 37,206 123,997 63,306 17.4 52.4 29 1.1 100 66.1
Mongolia 1,855 14,214 6,433 61.1 37.6 1.3 0 100 66.1
Syrian Arab Republic 13,352 7,073 3,198 82.7 16.9 0.4 0 100 66
Latvia 1,787 24,285 11,338 45 50.9 4 0 100 66
Greece 9,105 102,971 53,937 20.4 53.7 25.1 0.8 100 65.9
Jordan 3,858 14,364 6,589 60.3 38.3 1.4 0 100 65.9
Kyrgyz Republic 3,568 5,385 2,432 85.9 13.9 0.2 0 100 65.9
Viet Nam 61,765 4,857 2,215 87.8 12 0.2 0 100 65.8
West Bank and Gaza 1,739 8,979 4,200 73.1 26.3 0.6 0 100 65.8
Equatorial Guinea 365 19,525 9,130 55 42.6 2.4 0 100 65.8
Bosnia and Herzegovina 2,985 11,173 5,139 68.2 30.9 0.9 0 100 65.8
Luxembourg 390 315,240 182,768 15 22.5 57 5.5 100 65.7
Estonia 1,055 33,701 15,724 40 53.3 6.6 0.1 100 65.7
Guinea-Bissau 836 424 199 99.9 0.1 0 0 100 65.7
Albania 2,237 9,450 4,451 72.7 26.6 0.7 0 100 65.6
Niger 7,014 937 434 99.3 0.7 0 0 100 65.5
Algeria 23,982 10,100 4,673 70 29.2 0.7 0 100 65.5
Sudan 23,811 1,291 595 98.9 1.1 0 0 100 65.4
Burundi 4,729 293 137 99.9 0.1 0 0 100 65.2
Azerbaijan 6,276 16,344 7,721 57.1 41.4 1.5 0 100 65.1
Croatia 3,498 26,551 12,639 41.2 54.1 4.7 0 100 65.1
Italy 49,117 241,383 138,653 20 20.5 56.5 3 100 65
Mali 6,464 955 455 99.4 0.6 0 0 100 64.7
Moldova 2,692 3,854 1,874 91.8 8.1 0.1 0 100 64.7
Nepal 17,273 1,998 951 97.7 2.3 0 0 100 64.7
Bangladesh 104,135 1,894 908 97.9 2.1 0 0 100 64.6
Mauritius 935 37,308 19,247 40 52.5 7.4 0.1 100 64.5
Hungary 7,915 28,379 14,068 40 55 4.9 0 100 64
Armenia 2,263 5,613 2,793 85.5 14.3 0.2 0 100 63.9
Tajikistan 4,022 3,168 1,581 94.3 5.7 0.1 0 100 63.8
Pakistan 106,365 4,248 2,106 90.8 9 0.1 0 100 63.8
Ethiopia 42,750 411 207 99.9 0.1 0 0 100 63.6
Australia 16,617 402,578 219,505 6.9 23.7 62.6 6.8 100 63.6
Japan 104,315 216,694 110,294 9.2 37.7 50.6 2.5 100 63.5
Montenegro 467 21,340 10,929 45 52.6 2.4 0 100 63.4
Belgium 8,387 255,573 148,141 17.4 22.1 57.3 3.2 100 62.6
Serbia 7,527 15,175 7,978 56.8 42 1.3 0 100 62.5
Bulgaria 5,991 16,818 8,825 55.2 43.4 1.4 0 100 62.5
Belarus 7,543 2,407 1,271 96.8 3.1 0 0 100 62.2
Malta 330 71,448 42,898 18.8 65 15.9 0.3 100 59.5
Bahrain 571 44,822 26,675 28.7 60 11.2 0 100 58.5
Brunei Darussalam 286 51,373 31,527 26.2 58.7 15 0 100 58.5
Slovenia 1,655 64,067 44,932 19.4 60.6 19.9 0.1 100 53.5
Slovakia 4,303 27,224 20,740 19.8 77.8 2.4 0 100 44.7
In the United States[edit]
See also: Wealth inequality in the United States, Income inequality in the United States, and Wealth in the United States
<div class="transborder" style="position:absolute;width:100px;line-height:0;
Distribution of net worth in the United States (2007). The net wealth of many people in the lowest 20% is negative because of debt.[12]
Top 1% (35%)
Next 4% (27%)
Next 5% (11%)
Next 10% (12%)
Upper Middle 20% (11%)
Middle 20% (4%)
Bottom 40% (<1%)
According to PolitiFact, in 2011 the 400 wealthiest Americans "have more wealth than half of all Americans combined."[13][14][15][16] Inherited wealth may help explain why many Americans who have become rich may have had a "substantial head start".[17][18] In September 2012, according to the Institute for Policy Studies, "over 60 percent" of the Forbes richest 400 Americans "grew up in substantial privilege".[19]
In 2007, the richest 1% of the American population owned 34.6% of the country's total wealth (excluding human capital), and the next 19% owned 50.5%. The top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%. From 1922 to 2010, the share of the top 1% varied from 19.7% to 44.2%, the big drop being associated with the drop in the stock market in the late 1970s. Ignoring the period where the stock market was depressed (1976–1980) and the period when the stock market was overvalued (1929), the share of wealth of the richest 1% remained extremely stable, at about a third of the total wealth.[20] Financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7%.[21] However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%, further widening the gap between the 1% and the 99%.[12][20][21] During the economic expansion between 2002 and 2007, the income of the top 1% grew 10 times faster than the income of the bottom 90%. In this period 66% of total income gains went to the 1%, who in 2007 had a larger share of total income than at any time since 1928.
Dan Ariely and Michael Norton show in a study (2011) that US citizens across the political spectrum significantly underestimate the current US wealth inequality and would prefer a more egalitarian distribution of wealth, raising questions about ideological disputes over issues like taxation and welfare.[22]
Wealth proportion by population by year[20][23]
Year
Bottom
99%
Top
1%
1922 63.3% 36.7%
1929 55.8% 44.2%
1933 66.7% 33.3%
1939 63.6% 36.4%
1945 70.2% 29.8%
1949 72.9% 27.1%
1953 68.8% 31.2%
1962 68.2% 31.8%
1965 65.6% 34.4%
1969 68.9% 31.1%
1972 70.9% 29.1%
1976 80.1% 19.9%
1979 79.5% 20.5%
1981 75.2% 24.8%
1983 69.1% 30.9%
1986 68.1% 31.9%
1989 64.3% 35.7%
1992 62.8% 37.2%
1995 61.5% 38.5%
1998 61.9% 38.1%
2001 66.6% 33.4%
2004 65.7% 34.3%
2007 65.4% 34.6%
2010 64.6% 35.4%
Additional data, charts, and graphs[edit]
Wealth, Income, and Power by G. William Domhoff
PowerPoint presentation: Inequalities of Development – Lorenz curve and Gini coefficient]
The World Distribution of Household Wealth [8]
Article on The World Distribution of Household Wealth report.
The Federal Reserve Board – Survey of Consumer Finances
Survey of Consumer Finances 1998–2004 charts – pdf
Survey of Consumer Finances 1998–2004 data
and resulting Gini indices for mean incomes: 1989: 51.1, 1992: 47.8, 1995: 49.0, 1998: 50.4, 2001: 52.6, 2004: 51.4
Changes in the Distribution of Wealth in the U.S., 1989–2001
Report on Net Worth and Asset Ownership of Households
Projections of the Number of Households in the U.S. 1995–2010
The System of National Accounts (SNA): comparison of U.S. national accounts statistics with those of other countries
World Trade Organization: Resources
Champagne Glass infographic of global wealth distribution from Dalton Conley's You May Ask Yourself: An Introduction to Thinking Like a Sociologist textbook which was adapted from the 1992 UNDP original
World distribution of wealth
Main article: World distribution of wealth
world distribution of wealth by country (PPP)
world distribution of wealth by region (PPP)
world distribution of wealth by country (exchange rates)
world distribution of wealth by region (exchange rates)
By region
Region
Proportion of world… (%)[20][24]
Population
Net worth…
GDP…
PPP
Exchange rates
PPP
Exchange rates
North America 5.2 27.1 34.4 23.9 33.7
Central/South America 8.5 6.5 4.3 8.5 6.4
Europe 9.6 26.4 29.2 22.8 32.4
Africa 10.7 1.5 0.5 2.4 1.0
Middle East 9.9 5.1 3.1 5.7 4.1
Asia 52.2 29.4 25.6 31.1 24.1
Other 3.2 3.7 2.6 5.4 3.4
Totals (rounded) 100% 100% 100% 100% 100%
World distribution of financial wealth In 2007, 147 companies controlled nearly 40 percent of the monetary value of all transnational corporations.[25]
Redistribution of wealth and public policy[edit]
See also: Redistribution of income and wealth and Distribution of wealth in year 2000
In many societies, attempts have been made, through property redistribution, taxation, or regulation, to redistribute wealth, sometimes in support of the upper class, and sometimes to diminish economic inequality.
Examples of this practice go back at least to the Roman republic in the third century B.C.,[26] when laws were passed limiting the amount of wealth or land that could be owned by any one family. Motivations for such limitations on wealth include the desire for equality of opportunity, a fear that great wealth leads to political corruption, to the belief that limiting wealth will gain the political favor of a voting bloc, or fear that extreme concentration of wealth results in rebellion.[27] Various forms of socialism attempt to diminish the unequal distribution of wealth and thus the conflicts and social problems (see image below) arising from it.[28]
During the Age of Reason, Francis Bacon wrote "Above all things good policy is to be used so that the treasures and monies in a state be not gathered into a few hands… Money is like fertilizer, not good except it be spread."[29]
Communism arose as a reaction to a distribution of wealth in which a few lived in luxury while the masses lived in extreme poverty. In The Communist Manifesto, Marx and Engels wrote "From each according to his ability, to each according to his need."[30] While the ideas of Marx have nominally been embraced by various states (Russia, Cuba, Vietnam and China in the 20th century), Marxist utopia remains elusive.[31]
On the other hand, the combination of labor movements, technology, and social liberalism has diminished extreme poverty in the developed world today, though extremes of wealth and poverty continue in the Third World.[32]
In the Outlook on the Global Agenda 2014 from the World Economic Forum the widening income disparities come second as a worldwide risk.[33][34]
See also[edit]
Generational accounting
Kinetic exchange models of markets
Wealth concentration
References[edit]
Jump up ^ James B. Davies; Susanna Sandström; Anthony F. Shorrocks; Edward N. Wolff. "Estimating the World Distribution of Household Wealth" (PDF). Institution/Country: University of Western Ontario, Canada; WIDER-UNU. Retrieved 2016-09-10.
Jump up ^ Sponsored by (2012-06-30). "Free exchange: The real wealth of nations". The Economist. Retrieved 2012-07-14.
Jump up ^ "Inclusive Wealth Report – IHDP". Ihdp.unu.edu. 2012-07-09. Retrieved 2012-07-14.
Jump up ^ "Why it is hard to share the wealth". New Scientist. 2005-03-12. Retrieved 2012-03-26.
Jump up ^ "62 people own same as half world – Oxfam | Press releases | Oxfam GB". Oxfam.org.uk. 2016-01-18. Retrieved 2016-09-10.
^ Jump up to: a b "Global Wealth Report 2013". credit-suisse.com.
Jump up ^ "The World Factbook – Central Intelligence Agency". Cia.gov. Retrieved 2016-09-10.
^ Jump up to: a b The World Distribution of Household Wealth. James B. Davies, Susanna Sandstrom, Anthony Shorrocks, and Edward N. Wolff. 5 December 2006.
Launch of the WIDER study on The World Distribution of Household Wealth (includes press release, summary, and data)
Estimating the Level and Distribution of Global Household Wealth (copy of full report with a cover page added)
The World Distribution of Household Wealth (exact copy of report published at United Nations website)
Jump up ^ The rich really do own the world 5 December 2006
Jump up ^ Kromkowski, "Who owns Baltimore", CSE/HGFA, 2007.
Jump up ^ Source Credit Suisse, Research Institute – Global Wealth Databook 2013
^ Jump up to: a b Working Paper No. 589 Recent Trends in Household Wealth in the United States: Rising Debt and the Middle-Class Squeeze – an Update to 2007 by Edward N. Wolff, Levy Economics Institute of Bard College, March 2010
Jump up ^ Kertscher, Tom; Borowski, Greg (March 10, 2011). "The Truth-O-Meter Says: True – Michael Moore says 400 Americans have more wealth than half of all Americans combined". PolitiFact. Retrieved August 11, 2013.
Jump up ^ Moore, Michael (March 6, 2011). "America Is Not Broke". Huffington Post. Retrieved August 11, 2013.
Jump up ^ Moore, Michael (March 7, 2011). "The Forbes 400 vs. Everybody Else". michaelmoore.com. Archived from the original on 2011-03-09. Retrieved August 11, 2013.
Jump up ^ Pepitone, Julianne (September 22, 2010). "Forbes 400: The super-rich get richer". CNN. Retrieved August 11, 2013.
Jump up ^ Bruenig, Matt (March 24, 2014). "You call this a meritocracy? How rich inheritance is poisoning the American economy". Salon. Retrieved August 24, 2014.
Jump up ^ Staff (March 18, 2014). "Inequality – Inherited wealth". The Economist. Retrieved August 24, 2014.
Jump up ^ Pizzigati, Sam (September 24, 2012). "The 'Self-Made' Hallucination of America's Rich". Institute for Policy Studies. Retrieved August 24, 2014.
^ Jump up to: a b c d Wealth, Income, and Power by G. William Domhoff of the UC-Santa Barbara Sociology Department
^ Jump up to: a b Occupy Wall Street And The Rhetoric of Equality Forbes November 1, 2011 by Deborah L. Jacobs
Jump up ^ Norton, M. I., & Ariely, D., "Building a Better America – One Wealth Quintile at a Time", Perspectives on Psychological Science, January 2011 6: 9-12
Jump up ^ 1922–1989 data from Wolff (1996), 1992–2010 data from Wolff (2012)
Jump up ^ Data for the following table obtained from UNU-WIDER World Distribution of Household Wealth Report (The University of California also hosts a copy of the report)
Jump up ^ Financial world dominated by a few deep pockets. By Rachel Ehrenberg. September 24, 2011; Vol.180 #7 (p. 13). Science News. Citation is in the right sidebar. Paper is here [1] with PDF here [2].
Jump up ^ Livy, Rome and Italy: Books VI-X of the History of Rome from its Foundation, Penguin Classics, ISBN 0-14-044388-6
Jump up ^ "… A perceived sense of inequity is a common ingredient of rebellion in societies …", Amartya Sen, 1973
Jump up ^ "The Spirit Level" by Richard Wilkinson and Kate Pickett;Bloomsbury Press 2009
Jump up ^ Francis Bacon, Of Seditions and Troubles
Jump up ^ Karl Marx and Frederick Engels, The Communist Manifesto, Filiquarian, 2007, ISBN 978-1-59986-995-7
Jump up ^ Archie Brown, The Rise and Fall of Communism, Ecco, 2009, ISBN 978-0-06-113879-9
Jump up ^ Jeffrey D. Sachs, The End of Poverty, Penguin, 2006, ISBN 978-0-14-303658-6
Jump up ^ "Outlook on the Global Agenda 2014 – Reports". Reports.weforum.org. World Economic Forum. Retrieved 2016-09-10.
Jump up ^ "178 Oxfam Briefing Paoer" (PDF). Oxfam.org. 20 January 2014. Retrieved 2016-09-10.
External links[edit]
U.N. statistics – Distribution of Income and Consumption; wealth and poverty
Research on the World Distribution of Household Wealth (UNU-WIDER)
CIA World Factbook: Field Listing – Distribution of family income – Gini index
Annual income of richest 100 people enough to end global poverty four times over. Oxfam International, 19 January 2013.
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Overaccumulation
Paper wealth
Plutocracy
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Wealth
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See also
Business magnate
Business oligarch
Philanthropy
The Giving Pledge
The rich get richer and the poor get poorer
Upper class
Nouveau riche
Vieux riche
Religion and poverty
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