ABC News – Top stories
·general
·3 hours ago
How the explosion of the ultra-wealthy risks democracy
French economist Gabriel Zucman warned that the rise of trillionaires threatens democracy during a recent address. He noted the top 0.00001 percent of Americans could purchase 14 percent of U.S. production annually. Zucman emphasized that extreme wealth accumulation correlates with increased influence over markets and politics, highlighting a potential clash between democracy and oligarchy.
Summary by OZbrief · ABC News – Top stories
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