Extremes of world wealth - the richest 60,000 people own more than half the global population
A new Global Inequality Report warns that fewer than 60,000 of the world's richest people own more wealth than half the global population combined.
The report highlights extreme gaps in income and wealth, which translate into an unequal distribution of political power, with a global elite that makes up just 0.001% of the population and is three times richer than the poorest half of the people.
In stark contrast to their wealth and power, the top earners contribute little to public finances. The effective tax rate rises for the majority of the population, but falls sharply for billionaires. To put this into context, middle-class workers with high professional salaries, such as doctors, teachers, and engineers, pay a larger share of their income in taxes than a billionaire whose wealth is based on offshore structures or capital gains.
“This not only undermines tax fairness; it deprives societies of the resources needed for education, health, and climate action,” the report continues.
According to the data, the international monetary and financial system is structurally built to favor rich countries and extract resources from poorer countries.
“Few privileged countries have the advantage of low-cost borrowing and relatively more profitable investment in assets… this advantage was first described in the 1960s as the ‘extraordinary privilege’ of the United States,” the report explains, noting that it was the result not of “smart investments but of the central role of the dollar.” The new data shows that this is no longer just an American peculiarity.
Europe, Japan and other advanced economies enjoy a similar kind of benefit, while developing and low-income countries are in the opposite position. This includes high interest payments on their debts, holding low-yielding reserves and transferring income abroad every year.
1,583 new entities opened in November - NCC: Over 10,500 applications processed
The National Business Center announces that during the month of November, over 1,538 new businesses were registered in the Albanian market. In the same......
Korea leads car imports in Albania - DPSHTRR: The vehicle market is growing and diversifying
The General Directorate of Road Transport Services has published data on vehicle registrations for the period January-November 2025. The Albanian vehicle......
American Chamber, reservations about "Fiscal Peace" - "It endangers fair competition and legalizes dubious capital"
The American Chamber of Commerce has reservations about the fiscal peace package. According to this institution, the agreement in question poses a high risk......
Wave of protests in Bulgaria - Thousands of citizens demand government resignation and justice reforms
Thousands of Bulgarians have protested against the country's minority government, which they say has failed to combat endemic corruption in the European......
The Albanian economy reduces the burden of external debt - About 10.37 billion euros, while the ratio to GDP marks a sharp decline to 38.9%
Albania's Gross External Debt has marked a significant decrease during the third quarter of 2025. According to data from the Bank of Albania, at the end of......
The labor market loses 11 thousand young people in one year/ Employment in absolute terms experiences contraction, despite a slight increase in the rate
Around 6,500 people aged 15 and over have exited the labour market over the last year, the latest INSTAT data show, although the employment rate has......
Trump introduces “Gold Card” program - Expedited visas at a cost of $1 million
President Donald Trump's administration has officially introduced the "Trump Gold Card" visa program, which offers foreigners a fast track to obtaining......
Fed cuts interest rate - Chairman Powell seeks to restore economic stability before leaving
The Federal Reserve announced a cut in the key interest rate by a quarter of a percentage point, or 25 basis points, bringing the target range to......
