| Topic: | Re:Jim Rat really is a charmer... | |
| Posted by: | David Ainsworth | |
| Date/Time: | 14/02/26 10:09:00 |
| "Approximately 60% of global billionaire wealth is derived from inheritance, monopoly power, or crony connections to governments, according to Oxfam. In specific contexts like the UK, 37% of billionaire wealth is linked directly to cronyism, with an additional 15% from monopolies. Key Findings on State-Linked Wealth Cronyism & Monopoly (Global): A significant portion of extreme wealth is not "self-made" but rather generated through state connections, regulatory capture, and monopolistic practices. UK Context: In the UK, combined, cronyism and monopoly account for over half of billionaire wealth, according to the Equality Trust. Economic Impact: This wealth is often described as "extractive," adding little value to society while relying on government connections or privatized public assets. "Self-Made" vs. State-Enabled Wealth While 67% of global billionaires are technically classified as "self-made," this often includes fortunes built on state-enabled infrastructure, contracts, or favorable regulations. In countries like Russia and China, this, for example, has resulted in high percentages of billionaires connected to state-controlled industries." (AI) And, being a billionaire, Ratcliffe is supported in his inaccuracy (being kind here) by Creepy Nigel F. |