New Left Project | Articles | A Short History of Neoliberalism (And How We Can Fix It)

New Left Project | Articles | A Short History of Neoliberalism (And How We Can Fix It): oday, as a consequence of these policies, the richest 358 people on earth have the same wealth as the poorest 45% of the world’s population, or 2.3 billion people. Even more shocking, the top 3 billionaires have the same wealth as all of the Lowest Developed Countries put together, or 600 million people.[12] These statistics flag a massive transfer of wealth and resources from poor countries to rich countries, and from poor individuals to rich individuals. Today, the wealthiest 1% of the world’s population controls 40% of the world’s wealth, the wealthiest 10% control 85% of the world’s wealth, and the bottom 50% control a mere 1% of the world’s wealth.[13]