this post was submitted on 19 Jan 2026
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cross-posted from : https://lemmy.zip/post/57305272

Total billionaire wealth in the EU reached €2.4 trillion by late November, exceeding Italy's entire GDP of €2.2 trillion and approaching France's €2.9 trillion economy, a new Oxfam report found.

Archived version: https://archive.is/20260118190308/https://euobserver.com/health-and-society/ara3abf5ee

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[–] UnderpantsWeevil@lemmy.world 10 points 17 hours ago (1 children)

Structural issues make egalitarian economic systems difficult. Wealth and social influence compound once another in a virtuous cycle. Wealth has a strong hereditary bias, even in socialist economic models. And violence is historically a powerful tool for accruing wealth. Very difficult to establish universal deterrence against violence.

This isn't a question of people being smart or stupid. It's an elaborate balancing act that becomes exponentially more difficult as population size expands.

[–] NotASharkInAManSuit@lemmy.world 6 points 17 hours ago

As a very wise Irishman once so eloquently said it: “People. What a bunch’a bastards.”