The world has never had so many rich people and their investments in soaring stock markets have made them wealthier than ever recorded, according to a study published on Wednesday.Their fortunes have risen as stock markets have surged: New York's tech-heavy Nasdaq soared 43 percent in 2023 while the broad-based S&P 500 gained 24 percent.

This is why we need reform over worker pay.

  • IninewCrow@lemmy.caEnglish
    34·
    6 months ago

    Yes they have … there were periods in human history where some individuals were so enormously wealthy and powerful that we referred to them as kings, queens, emperors, or living gods that had ultimate control over the life and death of everyone in their sphere of influence.

    Today is no different, we just call them billionaires now.

    Humanity outgrew the idea of all powerful monarchies and God kings … we’ll eventually outgrow the notion of any one individual owning so much wealth they don’t need in one lifetime.

    Unfortunately, we are just dumb animals that by then, we’ll invent some other selfish method of concentrating power to a small group of people.

    If we ever make it that far.

  • Uriel238 [all pronouns]English
    2·
    6 months ago

    The first estate is looking a lot like the first estate again.

    Also, on a related note, the second estate is behaving a lot like the second estate again.

    It presents a chin-stroker regarding how the third estate might respond.