Economist Santiago Niño Becerra claims that the richest 10% concentrates 50% of income and that the economic model tends towards a minority holding almost all wealth. He outlines this in a post on X.
The economist Santiago Niño Becerra, known as Niño Becerra, has published a reflection on his X account regarding capital concentration and the future of inequality, as reported by HuffPost España. His message comes amid ongoing debate about wealth concentration in Spain.
The economist believes that economic evolution does not point towards a more egalitarian society. According to his analysis, technological development will increasingly require capital and will favour its concentration in a small group of people and companies.
“The trend is towards hyper-concentration of capital”
Becerra adds that inequality is not the only thing that will grow. He predicts that very few people will have practically everything, that some will collaborate with this group and receive part of the results, and that the majority will live on what they receive.
To illustrate this, the economist compares the current scenario with the past and warns that we are not heading towards a social democracy like that of Sweden in the 1960s, but rather towards a model with traits of feudalism.
“We are not heading towards a model resembling a super social democracy like Sweden in the 1960s, but rather towards a model with components of 11th century feudalism”
As an example of the current distribution, Becerra points out that the richest 10% concentrates 50% of all income. He also links his reflection to the debate raised by Thomas Piketty, whom he cites in an article from El País titled “The future that billionaires are preparing for us is dystopian”.
The economist concludes that reducing inequality was a goal at a specific moment, for specific reasons, and that those reasons no longer exist.
“That moment has passed and those reasons are gone. And now it’s time for something else”
You may also like
