Unsustainable Wealth

Here’s a wonderful piece from legendary environmentalist Joe Romm (whose last name, believe it or not, is pronounced “Rome”). A comment:

I dispute the assertion that human civilization is making any real attempt at leaving wealth to its children. The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report.

So yes, the trust fund babies are inheriting more money than they ever had in the past, but consider for a moment that two-thirds of Americans cannot meet an unexpected expense of $500. That’s not a great deal of wealth, sustainable or otherwise.