Unequal distribution of wealth is nothing new. It’s happened throughout history
You might wonder whether the inequality of wealth across the world is a new thing. The truth is that it’s not. It’s been happening throughout history. Thomas Picketty decided to look back through the centuries and found that wealth has fluctuated according to economic conditions, worldwide issues (such as war), and the establishment of the classes.
In the 18th century, the distribution of wealth was a huge topic in both England and France. Around this time, a new political style of the economy was being developed, leading to many uncertainties. At the time, what wasn’t clear was how this would split society into groups, i.e., the working class, lower and upper classes.
Around this time, many thought that overpopulation was the main issue. With so many people, how would wealth be distributed evenly and fairly? However, this view was quickly thrown out of the window as the problem worsened considerably with time.
⚡️Wealth distribution has been persistent throughout history and is unlikely to improve unless a solution is found.
Rich countries, such as the UK, Canada, and the USA, and leading countries across Europe have simply become richer, a trend since the 1970s. Of course, this has only exacerbated problems in poorer, developing countries.
However, Thomas Picketty discovered that any research into the causes of this would have to take into account two world wars and the subsequent economic fallouts. This all shaped the landscape for a few decades beyond. As the 1980s arrived, other economic issues, such as Margaret Thatcher’s Britain, forced whole industries into difficult circumstances. At this time, coal mines were being closed, causing mass unemployment. The wages of the rich were increasing, and the wages of the poor were reducing or turning to virtually nothing.
Of course, all this did was make those considered poorer even worse off, yet the rich continued to thrive. This trend has been seen through every single historical period and in every part of the world.