The richest 2% of adults in the world own more than half of all household wealth, according to a new study by a United Nations research institute. The report, from the World Institute for Development Economics Research at the UN University, says that the poorer half of the world’s population own barely 1% of global wealth. There have of course been many studies of worldwide inequality. But what is new about this report, the authors say, is its coverage. It deals with all countries in the world – either actual data or estimates based on statistical analysis – and it deals with wealth, where most previous research has looked at income. What they mean by wealth in this study is what people own, less what they owe – their debts. The assets include land, buildings, animals and financial assets. Different assets The analysis shows, as have many other less comprehensive studies, striking divergences in wealth between countries. Wealth is heavily concentrated in North America, Europe and some countries in the Asia Pacific region, such as Japan and Australia. These countries account for 90% of household wealth. The study also finds […]