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Opinion
Noah Smith

Hold the Outrage About Soaring Wealth Inequality

There is a huge gap, but reports that it widened a lot last year are based on dubious analysis.

Where, inevitably, are the customers’ yachts?

Where, inevitably, are the customers’ yachts?

Photographer: Balint Porneczi/Bloomberg

The Guardian recently reported a startling development — according to the charity Oxfam, a handful of the world’s richest people got much richer in 2018, while half of the world’s population got much poorer. On Twitter, writer Anand Giridharadas summed up the dire implications: