The top 0.1% owns as many assets as the bottom 90%. And it’s getting worse.
One of America’s founding myth is that of the “self-made man”: the idea that, with enough work & dedication, anybody can climb the social ladder and become wealthy. Or at least better off than his or her parents.
Data shows that the most important drivers of one’s living standard are determined at birth: most of the people who are poor are so because they made the mistake of being born to the wrong parents.
Now the goal of this article is not to languish and complain. By providing a fact-based analysis of the unfairness of our society, I aim to foster empathy and gratitude in the reader’s mind. Acknowledging the luck you have is the starting point towards greater generosity and happiness.