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Profit at the Bottom of the Ladder: Creating Value by Investing in Your Workforce by Jody Heymann

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4

Building Assets to Ensure That the Lowest-Level Employees Are Not Left Behind

THE PRESS HAS PAID attention to the rapidly rising inequalities in income between the rich and the poor. Although it has received less attention, the gap in wealth—which encompasses all assets, including home ownership, stocks, bonds, and pension plans—is actually far greater and is increasing more rapidly than the gap in income. The wealthiest 2 percent of adults own more than 50 percent of all global wealth, with the richest 1 percent owning 40 percent of global assets; in staggering contrast, the bottom 50 percent own barely 1 percent. North American households account for 34 percent of global assets, while 30 percent is enjoyed by Europe, and 24 percent by the ...

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