The Richest Year in History

March 15, 2007

money.jpgAccording to an article on AlterNet, this has been the richest year in human history. Well, in a way. Like always, it seems the rich get rich, and the rest of us just sorta stay the same.

The number of billionaires around the world grew by 19 percent since last year, up to 946, with a total net worth increasing by 35 percent to $3.5 trillion, according to a report released by Forbes magazine. That’s trillion with a “T.”

Says Forbes Chief Executive Steve Forbes: “This is the richest year ever in human history. Never in history has there been such a notable advance.”

Of course, things may not actually be as good as they seem.

The CBPP explained that the enormous gains at the top of the income pyramid caused a rise of income as a whole. But median income dropped between 2003 and 2004, and has not risen appreciably since then. In short, while the rich get richer, the middle class is shrinking.

I guess the more things change, the more they stay the same.


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