USA TODAY: Vast majority of new wealth last year went to top 1%

Description

“Inequality is reaching such extreme levels that it might actually be bad for really wealthy people because it’s slowing down economic growth and leading to political disruption,” said David Hulme, an expert global development at the University of Manchester. 

Hulme added that “globally, across the world’s 7.6 billion people, extreme poverty is actually reducing. It’s only when you look at the top group, the richest people, that wealth is concentrating amazingly. Both of those things can happen at the same time.”