Wednesday, 12 February 2014

In theory communism works. In theory

Credit Suisse's recent global wealth report has highlighted a disturbing statistic in Russia. It has been suggested that 110 Russian Billionaires possess 35% of Russia's wealth. In comparison, other billionaires worldwide possess only 1-2% of a country's wealth.

Just how rich are Russia's billionaires?

This has led to suggestions that the communist regime has left the majority of Russia's people worse off.

It must be noted that measuring the true wealth of some of Russia's people is increasingly difficult. Why is that?

The report also didn't give a true representation of why we see certain data trends. For example, for Australia Credit Suisse mentions the low Student Loan debt without mentioning why that is the case (student loans aren't really counted as debt in Australia because it is theoretically quite easy to escape paying the debt).

The relative economic outlook of some of the big economic players of the world can be found in the Credit Suisse report below.

Global Wealth Report

How does the wealth of some other countries compare to the wealth of Russia?

Do you believe Russia has an equitable wealth distribution? Why or why not?

What are the flaws in the way the data was collected?

No comments:

Post a Comment