Introduction

47.8% of the world's wealth is now in the hands of just 1.2% of people, who are around 62.5 million adults with a net worth of over 1 million US dollars. Unfortunately, 2.8 billion adults, more than half of the global adult population, have anet worth of less than $10,000. That number by itself might sound very scary, but to most economists it hasn't been a huge cause for concern. To understand why, we need to, as always, answer a few important questions.