Monday, February 13, 2012

Income inequality: who exactly are the 1%

The article talks about the fact that Mitt Romney is the first US presidential candidate from the area of high-level finance. He serves as an example of the changing perception of the "rich" in America. Nowadays they are mostly people of finance. Chicago university's Dr. Kaplan thinks that finance is the reason of a rise in inequality. Finance professionals have already replaced top businessmen and corporate executives at the top of an income ladder. The percentage of people involved in finance among the top 1% of the richest is noticeably higher in english-speaking countries. Politically, the rich voters also have eclectic views supporting both liberals and conservative. It is interesting to note that many of the top 1% stated their support of the "Occupy Wall street" movement. This is because many of them have build their businesses themselves and consider Wall street as the place where businesses are "taken apart and controlled by someone else". Overall, the article gives us a pretty good idea about the demographics of the rich percentile, their political, economic and social preferences.

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