You can argue that national poverty lines are made to be kept under a certain percentage, sure, then we can ignore that. Globally, yes, the majority doesn’t have capital (as in financial capital), but per country, there are stark differences. More things to consider
- internet access
- smartphone penetration
- poverty percentage
- Gross National Income Per capita at Purchasing Parity
- Global total of low, middle, high income
Especially GNI PPP: if you live in Europe, North America, Australia, China, Japan, and a few other countries, there’s a good chance you belong to the global 20% of high income earners. The minimum wage in your country will probably be higher than what a low income family earns in a year
For the current 2024 fiscal year, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,135 or less in 2022; lower middle-income economies are those with a GNI per capita between $1,136 and $4,465; upper middle-income economies are those with a GNI per capita between $4,466 and $13,845; high-income economies are those with a GNI per capita of $13,846 or more.
Can you fathom?
We are talking about people who have the capital in society to make actual systemic changes to society. Such as restructuring our economy to value lives, wellbeing, and sustainability over profit.
Quite obviously 80% of people do not have that capital.
You are cherrypicking statistics, seemingly to deliberately miss the point.
Global comparisons of income mean exactly nothing to the quality of life of people living within their country.
Even people deemed in that global top 20% are living paycheck-to-paycheck, and are unable to leverage that to make changes.
At the beginning of the Industrial Revolution there were an estimated 200 million people and virtually 100% poverty.
Now there are over 8.5 billion people and yet we’ve managed to reduce both poverty and hunger to the lowest levels in history. Along with the lowest rates of people dying due to war.
socialism didn’t do that.
Completely irrelevant to what I wrote. My comment has nothing to do with socialism.
Not to mention fallaciously attributing technological innovations to capitalism as if they could not occur under other economic systems.
