And 0.0001% earn more than the planet's GDP in 1968, inflation adjusted.
At this point, the picture isn't going to change without a complete collapse/overthrow of the plutarchy.
At this point, the picture isn't going to change without a complete collapse/overthrow of the plutarchy.
The collective 'elite' replace human labor with automation.
Once all labor is automated, there is massive deflation, since no one can afford the output of robot labor.
Then we're left with what, a post-scarcity utopia?
Can greed take us to this utopia, entirely by accident?
I can't think of any other possible outcome on 1000-year timescales.
Debt, and inflation in the whole world is rising much faster than people income. Yes, now people are richer than ever, I am sure that right now there are more US people being able to buy crap than in 1968, the same in Brazil with the famous "rise of the middle class".
But this won't last long.
US has crazy debts for example: http://rt.com/usa/us-debt-study-hamilton-economy-103/
Or Brazil, as I fully expected in 2011 (where we had a crazy GDP growth) is now with lots of inflation (6.7%) and anemic growth (0.9%)
And why I expected it? Because it was fueled by debts, and as soon people had to PAY them back, and fail, things would derail. And they don't even fully de-railed yet, the construction market is still misbehaving (house prices where I live rose 200% in the last four years and are still rising, to me is obvious the whole thing will come crashing down US 2008 style when foreclosures start).
You can't keep pushing it back and back.
No economist or politician seems to understand this basic tenet. Or they do, but they don't care, as the ones paying off the debt are the disenfranchised underclasses, and the political classes profit from the debt, as they own it.
a) forgotten about
b) subjugated (camps, eugenics, media control)
c) property
Or all or some of the above.