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Government policies to control monopolies

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FISCAL POLICY

Income inequality and the rise of the 1%

How has such a small group of people managed to earn such riches? This is among the most contentious questions of modern economics. Here, Isaac Delestre of the Institute for Fiscal Studies looks for answers

You name it, Jeff Bezos can buy it. So fabulously large is the fortune amassed by Bezos since founding Amazon in 1994 that he could buy every house in the city of Birmingham and still have enough wealth left to make him one of the 20 richest people in the world.

He is not alone. In the UK today, the highest-earning 1% of income tax payers (a group of roughly 300,000 people) have a combined income greater than that of the lowest income 25% (a group of 7.5 million people). The top 5% of income tax payers, meanwhile, earn roughly as much as the bottom 50%.

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Previous

Government policies to control monopolies

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The European Union’s Emissions Trading System: how does it work?

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