The richest of the rich are even richer than thought—which means inequality may be rising faster than imagined, too
“Rich List”, which estimates the fortunes of Britain’s wealthiest, relatively little is known about the finances of the economic elite. Official statistics, which extrapolate from surveys of the general public, are good at guessing the incomes of middling sorts. But they find it harder to get an accurate picture of those with more unusual circumstances. The very richest are particularly elusive.
The very rich have been getting a lot richer. Since 1995 the share of overall income accruing to the top 0.01% has roughly tripled . They had a turbulent time during the financial crisis of 2008-09, when many bankers were sacked and the value of financial investments plummeted. Yet they quickly bounced back. By 2015-16 the share of income accruing to the top 0.01% was at its second-highest level in decades. It is likely to have risen still further since then.
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