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
This illustrative table represents the exact value of the diagrams on p.
5. And nothing is more interesting in this table than the sad
differences in the worth of the groups, and especially when their
respective wealth is divided per every head. The right-hand column shows
that there are 18,786 persons whose aggregate wealth, if divided equally
among them, would give $691,867 to each man, woman, and child. And there
are 32,563,644 persons[7] in the last group, whose wealth, if equally
divided among them, can give but $99 to every person. These two groups
present the greatest possible extremes of group-poverty and
group-opulence.
The other three groups, as their averages clearly show, are intermediary
between the two extremes. [SN: PER CAPITA WEALTH.] And if all the wealth
of the nation were equally divided among its population, we could have
$1,036 to every man, woman, and child. This per capita wealth indicates
that the nation is very rich on the whole, but its riches, as you see,
belong to a very few persons.
What then is the difference between a rich man and a poor man, between a
rich woman and a poor woman?
If the 32,563,644 men, women and children had $100 per capita wealth,
then one rich man of the first group of the above table, would be worth
more [SN: WORTH OF MEN.] than 6,918 men of the last group of the same
table. A rich man’s horse often worth more than 10, 20, 30, or even
more, poor men taken together. A rich woman’s finger alone worth more
than 10 or 20 poor women taken together, because that finger is often
embellished with the diamond rings that cost thousands of dollars. A
complete ladies’ dress or a costume often amounts to more than $5,000,
and hence it is worth more than 40 or 50 women taken together with their
dresses. Such are the differences between the rich and the poor people
when they are valued by the dollar.
Public-domain text, read in full here on John Shaqi.
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