1% of the world population own 82% of the wealth

[esme 10]

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[LowCostPoint 10]

Price's Law is a theory that tries to explain this.

 

Its argued that the principle of this inequality applies to everything.

 

For example in a company with 10 employees, 3 of these will do 50% of the work. This theory applies right up in the company's size. For example for a company employing 10,000 people 100 will do 50% of the work. These people are the best, they know it and their colleagues know it as well. Sometimes the bosses don't. When a company has a couple of bad quarters and redundancies are imminent these 100 people will be off, because they can find other opportunities, because they are good at their jobs. Then the company really struggles and fails.

 

Price's Law also applies to neighbourhoods, cities, counties, countries, .....everything. A small percentage will have much more than the vast majority.

 

The 1% also suffer from inequality. In that 1% of the 1% will own the vast majority of the 1%. And then 1% of these will own the vast majority of the 1% of the 1%

 

I hope that's clear.

 

Its been a while but I think that's what the theory is all about....

[melthebell 863]

On a side not, about wealthy individuals, apparently Russians living in the UK are now going to have to explain their wealth?

http://www.bbc.co.uk/news/uk-42926819

 

to check if it doesnt come from corruption and crime.