The impending crisis : $b conditions resulting from the concentration of wealth in the United States — John Shaqi
The impending crisis : $b conditions resulting from the concentration of wealth in the United StatesBouroff, Basil A.
History
The impending crisis : $b conditions resulting from the concentration of wealth in the United States
Bouroff, Basil A.
Trusts, Industrial; United States -- Economic conditions; Wealth
“Seven-eighths of the families hold but one-eighth of the national
wealth,” and vice versa, as the diagrams on the following page indicate,
where the 12,690,152 families represent 62,622,250 individuals as in the
preceding diagrams.
Population: 12,690,152.[20] Wealth: $65,037,091,197.
Poor Poor
families } 7/8 families } 1/8
Rich Rich
families } 1/8 families } 7/8
These diagrams represent exactly the truth of the conclusion:
“Seven-eighths of the families of this nation held but one-eighth of the
national wealth;[20] or seven-eighths of the nation’s wealth was held by
but one-eighth of the families.
The table on the next page illustrates some of the details of the above
conclusion.
The upper division of that table presents the distribution of wealth
among the families, where the two “per family” averages indicate [SN:
FAMILIES.] a difference in the worth of more than 11-million families
that held $732 each, and the worth of little over 1½-million families
that held $35,875 each. So that, each family of the latter group was
worth as much as 49 families of the former. While the general average of
$5,125 shows that, if the national wealth had been equally distributed
among all families, every one of them would have had this average amount
as its own.
Table III.
+-----------+-------------++-----------+-----------------+------------+
|Proportions| Numbers of ||Proportions| Aggregate wealth| Average |
| of | families in || of | per group, | wealth per |
| | groups. || | in dollars. | family. |
+-----------+-------------++-----------+-----------------+------------+
| 7/8 | 11,103,883 || 1/8 | 8,129,636,399 | $ 732 |
| 1/8 | 1,586,269 || 7/8 | 56,907,454,798 | 35,875 |
+-----------+-------------++-----------+-----------------+------------+
| 8/8 | 12,690,152 || 8/8 | 65,037,091,197 | 5,125 |
+===========+=============++===========+=================+============+
| | Number of || | Wealth—the same | Wealth |
| | individuals.|| | in dollars. | per head. |
+-----------+-------------++-----------+-----------------+------------+
| 7/8 | 54,794,468 || 1/8 | 8,129,636,399 | $ 148 |
| 1/8 | 7,827,782 || 7/8 | 56,907,454,798 | 7,269 |
+-----------+-------------++-----------+-----------------+------------+
| 8/8 | 62,622,250 || 8/8 | 65,037,091,197 | 1,036 |
+-----------+-------------++-----------+-----------------+------------+
Public-domain text, read in full here on John Shaqi.
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