For those who somehow think that Sweden is a socialist utopia

[luzula]

I offer these depressing statistics about Sweden:

In 1965, the combined wealth of the five richest families was as much as 1.17% of that year's GDP. In 2016, the combined wealth of the five richest individuals was as much as 23.2% of that year's GDP.

Between 1983 and 1997, the richest 1% increased their wealth with 81%, and the poorest 40% decreased theirs with 129%.

In 2017, the richest 10% of the population owned 78% of total household wealth (not sure if wealth hidden away in tax havens was counted). To compare with Norway (63%), Denmark (69%), and Italy (51%). In this respect we're even worse than the US, at 77%!

I mean, we do still have free university and healthcare, but it's going downhill fast. Also, when I presented these statistics to my dad, he went on a rant about immigration as the root of all evil. The mind boggles.

Comments

[seascribble]

Every time I read about someone ranting about immigration I get closer and closer to responding by panicking. This is a horrifying road to be going down!

[luzula]

I have no idea how he could think it was in any way relevant as causes for the statistics I gave, rather than, say, class war from above and the deregulation of banks and capital markets in the 80's.

[seascribble]

That's why it's scary! Anything is the fault of immigrants and the facts don't matter. The replies to any tweet about Andrew Scheer's policies are full of anti-immigrant rhetoric and it's awful.

[ride_4ever]

Well, that was certainly educational for me. *clings to attempts at working for a better world*

[luzula]

I mean, I am still working for a better world! But it's better to do so from a position of knowing more about the world actually looks like.

[rachelmanija]

I would not have guessed that Italy has less wealth inequality, at least by that measure, than Sweden.

[luzula]

I wouldn't either. I mean, it's only one measure and I'm sure the situation is different depending on which ones you use, but still.

ETA: I think one explanation for this statistic is that Sweden is one of the countries with the highest level of private debt, and of course debt is negative wealth.

[jesse_the_k]

Well, it's positive 'wealth' for the folks holding the debt! See also: 2008 global meltdown, predicated on notational value of "mortgage backed securities" and other illusory monetary instruments.

[akamine_chan]

It's awful that we've gotten to the point where "bad" and "good" have lost their relative meanings, and we're down to "bad" and "not as bad."

[luzula]

Yeah. : ( I mean, I have good things in my life, and good things do happen in the world, but overall we're definitely heading the wrong way.

[dariaw]

VEry interesting stats - thank you!

[luzula]

You're welcome! I think one explanation for the last statistic is that Sweden is one of the countries with the highest level of private debt, and of course debt is negative wealth.

[dhampyresa]

the richest 1% increased their wealth with 81%, and the poorest 40% decreased theirs with 129%
Fucking hell.

[luzula]

Indeed.

[vatine]

I am, sadly, not surprised. The social democrats started drifting noticeably right during the early 90s (some might say the late 80s) and my understanding from afar is that it did not reverse in the third millennium.

[luzula]

Based on the book I just read, it was in the '80:s. Of course this is not just an isolated thing happening in Sweden, but very much influenced by what's going on in the rest of the world.

[nonesensed]

Woah, those are some scary and saddening statistics :( I knew it was bad, but seeing the numbers made it hit home even worse. Good knowledge to have though.

...there should seriously be a fixed maximum amount a single person should be able to earn. At some point, having All Of The Money becomes an ethical question as much as an economical one :/

[luzula]

That just proves how much the world is not governed democratically. I mean, the overwhelming amount of people in the world would probably be for a law that capped people's wealth, but is there such a law? No, there is not.

[nonesensed]

Yuuuuup - people with power (aka money) are very focused on Making All The Money, and thus make sure all the rules are in their favor :/

[dhampyresa]

I feel like over a certain amount of money, you're basically a dragon and you and your hoard should be treated as such.

[luzula]

Ha, that's a great image.

[nonesensed]

Very well stated!