I still remember the Occupy Wall Street slogans and chants in lower Manhattan a few years ago: “SHAME ON THE 1%! SHAME ON THE 1%!”*
At the time, I was in my mid 20’s, working in New York City but squarely in the lower-middle-class. While I am, and long have been, a champion of income equality, I didn’t feel quite right about blaming the 1% for all of society’s troubles. Years later, I think I know why.
According to research I came across recently, the worldwide 1% is not such an...
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