Worldwide income of top 1% increased 60%; the bottom 5% had no change from 1988-2008

"From 1988 to 2008, Mr. Milanovic [[world bank]] found, people in the world’s top 1 percent saw their incomes increase by 60 percent, while those in the bottom 5 percent had no change in their income."

Joseph Stiglitz, Inequality is a Choice, The New York Times, 10.13.13,

Joseph Stiglitz, "Inequality is a Choice," The New York Times, Oct13,13. Accessed on April 15, 2014.

[verified 4/15/14]

#economy #poverty #wealthdistribution #global #wealth