Vice President of Middle East and North Africa region, World Bank Group
Date: Tuesday, April 22, 2014 Time: 12:30 p.m. - 2:00 p.m. ET (16:30 – 18:00 GMT or convert time) Location: Online
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Today, most colossal fortunes are new, not inherited – amassed by perceptive businessmen who see themselves as deserving victors in a cut-throat international competition. Like the ‘robber barons’ of the late 19th century, this trans-global class of successful professionals lives in an era in which emerging markets and innovative technologies are colliding to produce unprecedented wealth for more people than ever in human history. In the 19th century Gilded Age, those at the very top benefited far more than others--and from this pinnacle they exercised immense and unchecked power in their countries. Today’s closest analogue to these robber barons can be found in the turbulent economies of India, Brazil, and China, all home to ferocious market competition and political turmoil. But wealth, corruption, and populism are no longer constrained by national borders, so this new Gilded Age is already transforming the economics of the West, as well.
In her book, Plutocrats, Canadian writer, journalist, and politician Chrystia Freeland demonstrates how social upheavals generated by the first Gilded Age may pale in comparison to what is in store for us, as the wealth of the entire globalized world is concentrated in fewer and fewer hands. Plutocratsbrings together the economics and psychology of these new super-rich, and puts us inside a league very much of its own, with its own rules.
Join us LIVE on April 22nd as Freeland discusses the themes of "Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else."
How can these super rich be encouraged for 'giving more' (as per the other World Bank discussion)? Thus, what is/ will be the role of the World Bank in this 'Giving more' process to organise their hefty donation funds? Hope you touch this point in your all important discussion.
Dr. Ashish Manohar Urkude
We're not against super rich, however, is it not a fact that only those can be super rich who can manage all stake holders, government and non government bodies and of course the negative elements in society? Have you touched these points? Also do you agree that sometimes, coercieve collaborations of super rich people even can take the toll of few countries' economies? How can it be tackled? Hope you'll touch this point in your discussion please. Millions are dying of hunger, millions are not getting employeed, etc. and since a century we could not find a solution over this, hence, also this question can be raised to super rich, as it's a
same case where in Rome/earth is burning and ...these Kings are busy in amassing more wealth ...
Jun Yu Seok
Korea, Dem. Rep.
nowaday, the gap between richer and poorer is more serious in korea too. however, there is an bias to super richer in my country. beacause we think taht they can get their wealth by immoral ways. My opinion is just accept that they have more power and more wealth, but important thing is how can they share their wealth more voluntarily and often?
Ashley So Hee Park
Korea, Dem. Rep.
I agree with that super-rich,especially China rising very much. Also,mentioned in the book "Plutocrats", global is getting together with many countries but controlled by their own rules. But does that can be continually? Global world can't be under dominated by only few countries. If it could possible, there are no more global. And also, what about so many people that suffering from hunger and lose their job? I think we have to think about those problems.
If the super-rich 0.1percent of the world own more wealth than rest 99.9percent, it could lead to a dictatorship and very unstable economy since the world is run by the few. What kind of effort or policy could stop this econmic pace and prevent super-rich from gaining more power?
Dr. Ashish Manohar Urkude
Mr. Warren Buffet, donated billions of dollars. Why cannot The World Bank, influence, organise and encourage other super rich for 'Giving More/ Donate More'?
I agree with her think. And I always feel that. Rich is inherited endlessly and is limited. How can we solve the fundamental problem of this?
When I red your article on The Rise of the New Global Super-Rich and the Fall of Everyone Else, I couldn't stop thinking who is responsible for such a financial epidemical virus?
To me the World Bank is just an NGO? How can an NGO solve a Global political or financial issue while you are being sponsored yourself?
Lee da hee
what kind of polity exist to supple the gap between the rich and poor? and what they are doing now to stop the ‘robber barons’
Kim Hyeon Min
On whom is the wealth of globalized world concentrated? And what is the main cause that lets only few hold most wealth of the world?