The distribution of wealth is a comparison of the wealth of various members or groups in a society . It shows one aspect of economic inequality or economic heterogeneity .
116-550: The Cutato is a river of central Angola , tributary of the Cuanza River . It flows to the northeast of Benguela . The town of Cutato lies on the river. This article related to a river in Angola is a stub . You can help Misplaced Pages by expanding it . Angola Angola , officially the Republic of Angola , is a country on the west- central coast of Southern Africa . It is
232-673: A Marxist–Leninist one-party state . It embarked on an ambitious programme of nationalisation , and the domestic private sector was essentially abolished. Privately owned enterprises were nationalised and incorporated into a single umbrella of state-owned enterprises known as Unidades Economicas Estatais (UEE). Under the MPLA, Angola experienced a significant degree of modern industrialisation . However, corruption and graft also increased and public resources were either allocated inefficiently or simply embezzled by officials for personal enrichment. The ruling party survived an attempted coup d'état by
348-608: A "substantial head start". In September 2012, according to the Institute for Policy Studies , "over 60 percent" of the Forbes 400 Richest Americans "grew up in substantial privilege". The second condition is that a small initial inequality must, over time, widen into a larger inequality. This is an example of positive feedback in an economic system. A team from Jagiellonian University produced statistical model economies showing that wealth condensation can occur whether or not total wealth
464-506: A "substantial head start". In September 2012, according to the Institute for Policy Studies , "over 60 percent" of the Forbes richest 400 Americans "grew up in substantial privilege". In 2007, the richest 1% of the American population owned 34.6% of the country's total wealth (excluding human capital), and the next 19% owned 50.5%. The top 20% of Americans owned 85% of the country's wealth and
580-473: A camp in Damba , where 26% died. Under colonial law, black Angolans were forbidden from forming political parties or labour unions. The first nationalist movements did not take root until after World War II , spearheaded by a largely Westernised and Portuguese-speaking urban class, which included many mestiços . During the early 1960s they were joined by other associations stemming from ad hoc labour activism in
696-644: A devastating civil war the same year, between the ruling People's Movement for the Liberation of Angola (MPLA), backed by the Soviet Union and Cuba ; the insurgent National Union for the Total Independence of Angola , an originally Maoist and later anti-communist group supported by the United States and South Africa ; the militant organization National Liberation Front of Angola , backed by Zaire ; and
812-477: A drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%, further widening the gap between the 1% and the 99% . Dan Ariely and Michael Norton show in a study (2011) that US citizens across the political spectrum significantly underestimate the current US wealth inequality and would prefer a more egalitarian distribution of wealth, raising questions about ideological disputes over issues like taxation and welfare. Wealth concentration
928-467: A large base of low wealth holders, alongside upper tiers occupied by progressively fewer people. In 2013 Credit-suisse estimate that 3.2 billion individuals – more than two thirds of adults in the world – have wealth below US$ 10,000. A further one billion (adult population) fall within the 10,000 – US$ 100,000 range. While the average wealth holding is modest in the base and middle segments of the pyramid, their total wealth amounts to US$ 40 trillion, underlining
1044-418: A large income but also large expenses, the net effect of that income on her or his wealth could be small or even negative. There are many ways in which the distribution of wealth can be analyzed. One common-used example is to compare the amount of the wealth of individual at say 99 percentile relative to the wealth of the median (or 50th) percentile. This is P99/P50 is one of the potential Kuznets ratios which
1160-410: A nation. WOP curves are modified distribution of wealth curves. The vertical and horizontal scales each show percentages from zero to one hundred. We imagine all the households in a nation being sorted from richest to poorest. They are then shrunk down and lined up (richest at the left) along the horizontal scale. For any particular household, its point on the curve represents how their wealth compares (as
1276-436: A negative effect for the lowest groups of wealth holders, forcing them to spend more from their savings or incur higher debt. On the other hand, top wealth groups appeared to be relatively unaffected in this negative way. Moreover, they seemed to benefit from the impact of lower interest rates on share and house prices. According to the ‘Global Wealth Report 2021’ published by Credit Suisse, there are 56 million millionaires in
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#17330862106031392-587: A particular economy. These Gini values (40.8 in 2007) show the United States to be the third most dis-equitable economy of all the developed nations (behind Denmark and Switzerland). More sophisticated models have also been proposed. To model aspects of the distribution and holdings of wealth, there have been many different types of theories used. Before the 1960s, the data regarding this was collected mostly from wealth tax and estate tax records, with further proof gathered from small unrepresentative examinations and
1508-465: A power base among a large expatriate community from related families, clans, and traditions. People on both sides of the border spoke mutually intelligible dialects and enjoyed shared ties to the historical Kingdom of Kongo. Though as foreigners skilled Angolans could not take advantage of Mobutu Sese Seko 's state employment programme, some found work as middlemen for the absentee owners of various lucrative private ventures. The migrants eventually formed
1624-626: A precedent for the bitter factional strife which would later ignite the Angolan Civil War . Throughout the war of independence, the three rival nationalist movements were severely hampered by political and military factionalism, as well as their inability to unite guerrilla efforts against the Portuguese. Between 1961 and 1975 the MPLA, UNITA, and the FNLA competed for influence in the Angolan population and
1740-537: A proportion) to the average wealth of the richest percentile. For any nation, the average wealth of the richest 1/100 of households is the topmost point on the curve (people, 1%; wealth, 100%) or (p=1, w=100) or (1, 100). In the real world two points on the WOP curve are always known before any statistics are gathered. These are the topmost point (1, 100) by definition, and the rightmost point (poorest people, lowest wealth) or (p=100, w=0) or (100, 0). This unfortunate rightmost point
1856-596: A result of protective tariffs , leading to increased development, and a wave of new Portuguese immigrants. Between 1939 and 1943, Portuguese army operations against the Mucubal, who they accused of rebellion and cattle-thieving, resulted in hundreds of Mucubal killed. During the campaign, 3,529 were taken prisoner, 20% of whom were women and children, and imprisoned in concentration camps. Many died in captivity from undernourishment, violence and forced labor. Around 600 were sent to Sao Tome and Principe . Hundreds were also sent to
1972-567: A skirmish in the Moxico province . UNITA and the MPLA consented to the Luena Memorandum of Understanding in April; UNITA agreed to give up its armed wing. With the elections in 2008 and 2012 , an MPLA-ruled dominant-party system emerged, with UNITA and the FNLA as opposition parties. Angola has a serious humanitarian crisis; the result of the prolonged war, of the abundance of minefields , and
2088-707: A society (perhaps analyzed using the Gini coefficient ) then can regarded as a measure of wealth inequality. This approach has been used at least since 2014 and has shown, for example, that ancient wealth disparities in Eurasia were greater than those in North America and in Mesoamerica following the earliest Neolithic period. A study by the World Institute for Development Economics Research at United Nations University reports that
2204-649: A state be not gathered into a few hands… Money is like fertilizer, not good except it be spread." The rise of Communism as a political movement has partially been attributed to the distribution of wealth under capitalism in which a few lived in luxury while the masses lived in extreme poverty or deprivation. However, in the Critique of the Gotha Program , Marx and Engels criticized German Social Democrats for placing emphasis on issues of distribution instead of on production and ownership of productive property . While
2320-423: A substantial worldwide increase in wealth inequality during 2020. According to Credit Suisse, wealth distribution pyramid in 2020 shows that the richest group of adult population (1.1%) owns 45.8% of the total wealth. When compared to the 2013 wealth distribution pyramid, an overall increase of 4.8% can be seen. The bottom half of the world’s total adult population, the bottom quartile in the pyramid, owns only 1.3% of
2436-522: A third of the total wealth. Financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7%. However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. The Great Recession also caused
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#17330862106032552-418: A thousand Cuban soldiers in the country. They were kept supplied by a massive airbridge carried out with Soviet aircraft. The persistent buildup of Cuban and Soviet military aid allowed the MPLA to drive its opponents from Luanda and blunt an abortive intervention by Zairean and South African troops, which had deployed in a belated attempt to assist the FNLA and UNITA. The FNLA was largely annihilated after
2668-403: A variety of other household and personal characteristics that can assist in explain the differences in wealth. Wealth inequality refers to uneven distribution of wealth among individuals and entities. Although most research depends on written sources, archaeologists and anthropologists often view large houses as occupied by wealthy households. The distribution of contemporaneous house sizes in
2784-534: A variety of other sources. The results from these sources tended to show that the distribution of wealth was very unequal, and that material inheritance had a big role in the matter of wealth differences and in the transmission of the status of wealth from generation to generation. There was also reason to believe that the inequality in wealth was shrinking over time, and also the distribution's shape demonstrated particular statistical regularities that could not have been caused by coincidence. Thus, early theoretical work on
2900-406: Is a process by which created wealth , under some conditions, can become concentrated by individuals or entities. Those who hold wealth have the means to invest in newly created sources and structures of wealth, or to otherwise leverage the accumulation of wealth, and are thus the beneficiaries of even greater wealth. The first necessary condition for the phenomenon of wealth concentration to occur
3016-407: Is a straight line connecting the left/top point to the right/bottom point. In such a "Diagonal" society a household in the richest percentile would have just twice the wealth of a family in the median (50th) percentile. Such a society is compelling to many (especially the poor). In fact it is a comparison to a diagonal society that is the basis for the Gini values used as a measure of the disequity in
3132-501: Is also projected to increase. According to the estimates made by Credit Suisse, the number of global millionaires could exceed 84 million by 2025, a rise of almost 28 million from 2020. The increase of millionaires will not only occur in developed countries such as the USA or other developed countries in Europe, but it is also expected to rapidly increase in lower-income countries. The biggest increase
3248-482: Is an unequal initial distribution of wealth. The distribution of wealth throughout the population is often closely approximated by a Pareto distribution , with tails which decay as a power-law in wealth. (See also: Distribution of wealth and Economic inequality ). According to PolitiFact and others, the 400 wealthiest Americans had "more wealth than half of all Americans combined." Inherited wealth may help explain why many Americans who have become rich may have had
3364-445: Is around 53% of the total land area, equivalent to 66,607,380 hectares (ha) of forest in 2020, down from 79,262,780 hectares (ha) in 1990. In 2020, naturally regenerating forest covered 65,800,190 hectares (ha) and planted forest covered 807,200 hectares (ha). Of the naturally regenerating forest 40% was reported to be primary forest (consisting of native tree species with no clearly visible indications of human activity) and around 3% of
3480-552: Is defined as net worth, expressed as: wealth = assets − liabilities A broader definition of wealth, which is rarely used in the measurement of wealth inequality , also includes human capital . For example, the United Nations definition of inclusive wealth is a monetary measure which includes the sum of natural, human and physical assets. The relation between wealth, income, and expenses is: change of wealth = saving = income − consumption (expenses). If an individual has
3596-473: Is expected in China, with a change of 92.7%, which is about 4.8 million new dollar millionaires. As a consequence, the number of Ultra High Net Worth Individuals (UHNWI) with net worth exceeding USD 50 million, will also increase. Gini coefficient (or Gini index) is an indicator that is often used to determine wealth inequality. A Gini coefficient of 0 reflects perfect equality, where all income or wealth values are
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3712-426: Is given because there are always at least one percent of households (incarcerated, long term illness, etc.) with no wealth at all. Given that the topmost and rightmost points are fixed ... our interest lies in the form of the WOP curve between them. There are two extreme possible forms of the curve. The first is the "perfect communist" WOP. It is a straight line from the leftmost (maximum wealth) point horizontally across
3828-427: Is growing (if it is not, this implies that the poor could become poorer). Joseph E. Fargione, Clarence Lehman and Stephen Polasky demonstrated in 2011 that chance alone, combined with the deterministic effects of compounding returns, can lead to unlimited concentration of wealth, such that the percentage of all wealth owned by a few entrepreneurs eventually approaches 100%. Given an initial condition in which wealth
3944-402: Is projected to rise by 39% over the next five years reaching USD 583 trillion by 2025. Wealth per adult is also projected to increase by 31% and so is the number of global millionaires. The wealth pyramid, an infographic used to determine wealth distribution, will also change. The bottom segment covering adults with a net worth below USD 10,000 will likely decrease by approximately 108 million over
4060-422: Is the inverted U shape that indicates the relationship between the inequality and the income per capita. Another common measure is the ratio of total amount of wealth in the hand of top say 1% of the wealth distribution over the total wealth in the economy. In many societies, the richest ten percent control more than half of the total wealth. The Pareto Distribution has often been used to mathematically quantify
4176-416: Is unevenly distributed (i.e., a " wealth gap " ), several non-exclusive economic mechanisms for wealth condensation have been proposed: In the first case, being wealthy gives one the opportunity to earn more through high paid employment (e.g., by going to elite schools). In the second case, having high paid employment gives one the opportunity to become rich (by saving your money). In the case of plutocracy,
4292-476: The Atlantic slave trade continued until after Brazil's independence in the 1820s. Despite Portugal's territorial claims in Angola, its control over much of the country's vast interior was minimal. In the 16th century Portugal gained control of the coast through a series of treaties and wars. Life for European colonists was difficult and progress was slow. John Iliffe notes that "Portuguese records of Angola from
4408-630: The Front for the Liberation of the Enclave of Cabinda seeking the independence of the Cabinda exclave, also backed by Zaire. Since the end of the civil war in 2002, Angola has emerged as a relatively stable constitutional republic , and its economy is among the fastest-growing in the world, with China , the European Union , and the United States being the country's largest investment and trade partners. However,
4524-461: The Kwanza River in the south. The Portuguese established their primary early trading post at Soyo , which is now the northernmost city in Angola apart from the Cabinda exclave . Paulo Dias de Novais founded São Paulo de Loanda ( Luanda ) in 1575 with a hundred families of settlers and four hundred soldiers. Benguela was fortified in 1587 and became a township in 1617. An authoritarian state,
4640-524: The Maoist -oriented Communist Organisation of Angola (OCA) in 1977, which was suppressed after a series of bloody political purges left thousands of OCA supporters dead. The MPLA abandoned its former Marxist ideology at its third party congress in 1990, and declared social democracy to be its new platform. Angola subsequently became a member of the International Monetary Fund ; restrictions on
4756-594: The Republic of the Congo , and Gabon . It established trade routes with other city-states and civilisations up and down the coast of southwestern and western Africa. Its traders even reached Great Zimbabwe and the Mutapa Empire , although the kingdom engaged in little or no trans-oceanic trade. To its south lay the Kingdom of Ndongo , from which the area of the later Portuguese colony was sometimes known as Dongo . Next to that
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4872-700: The Southern African Development Community . As of 2023 , the Angolan population is estimated at 37.2 million. Angolan culture reflects centuries of Portuguese influence, namely the predominance of the Portuguese language and of the Catholic Church , intermingled with a variety of indigenous customs and traditions. The name Angola comes from the Portuguese colonial name Reino de Angola ('Kingdom of Angola'), which appeared as early as Paulo Dias de Novais 's 1571 charter. The toponym
4988-612: The United Arab Republic . The MPLA attempted to move its headquarters from Conakry to Léopoldville in October 1961, renewing efforts to create a common front with the FNLA, then known as the Union of Angolan Peoples (UPA) and its leader Holden Roberto . Roberto turned down the offer. When the MPLA first attempted to insert its own insurgents into Angola, the cadres were ambushed and annihilated by UPA partisans on Roberto's orders—setting
5104-594: The income distribution in that it looks at the economic distribution of ownership of the assets in a society, rather than the current income of members of that society. According to the International Association for Research in Income and Wealth, "the world distribution of wealth is much more unequal than that of income." For rankings regarding wealth, see list of countries by wealth equality or list of countries by wealth per adult . Wealth of an individual
5220-702: The 16th century show that a great famine occurred on average every seventy years; accompanied by epidemic disease, it might kill one-third or one-half of the population, destroying the demographic growth of a generation and forcing colonists back into the river valleys". During the Portuguese Restoration War , the Dutch West India Company occupied the principal settlement of Luanda in 1641, using alliances with local peoples to carry out attacks against Portuguese holdings elsewhere. A fleet under Salvador de Sá retook Luanda in 1648; reconquest of
5336-565: The Atlantic Ocean. Thus, at Soyo , at the mouth of the Congo River , the average annual temperature is about 26 °C, but it is under 16 °C at Huambo on the temperate central plateau. The coolest months are July and August (in the middle of the dry season), when frost may sometimes form at higher altitudes. The Angolan government is composed of three branches of government: executive, legislative and judicial. The executive branch of
5452-542: The Congo to the south. Angola has a favorable coastline for maritime trade, with four natural harbors: Luanda, Lobito, Moçâmedes, and Porto Alexandre. These natural indentations contrast with Africa's typical coastline of rocky cliffs and deep bays. Angola's capital, Luanda , lies on the Atlantic coast in the northwest of the country. Angola had a 2018 Forest Landscape Integrity Index mean score of 8.35/10, ranking it 23rd globally out of 172 countries. In Angola forest cover
5568-598: The Democratic Republic of the Congo. The capital and most populous city is Luanda . Angola has been inhabited since the Paleolithic Age . After the Bantu expansion reached the region, states were formed by the 13th century and organised into confederations. The Kingdom of Kongo ascended to achieve hegemony among the other kingdoms from the 14th century. Portuguese explorers established relations with Kongo in 1483. To
5684-698: The FNLA began massing large numbers of troops in northern Angola in an attempt to gain military superiority. Meanwhile, the MPLA began securing control of Luanda, a traditional Ambundu stronghold. Sporadic violence broke out in Luanda over the next few months after the FNLA attacked the MPLA's political headquarters in March 1975. The fighting intensified with street clashes in April and May, and UNITA became involved after over two hundred of its members were massacred by an MPLA contingent that June. An upswing in Soviet arms shipments to
5800-467: The FNLA with the intention of making a bid for political power upon their envisaged return to Angola. A largely Ovimbundu guerrilla initiative against the Portuguese in central Angola from 1966 was spearheaded by Jonas Savimbi and the National Union for the Total Independence of Angola (UNITA). It remained handicapped by its geographic remoteness from friendly borders, the ethnic fragmentation of
5916-556: The G8 with United States of America leading with 30.2%, along with other developed countries, several Asia-pacific countries and OPEC countries. World distribution of financial wealth. In 2007, 147 companies controlled nearly 40 percent of the monetary value of all transnational corporations. According to PolitiFact , in 2011 the 400 wealthiest Americans "have more wealth than half of all Americans combined." Inherited wealth may help explain why many Americans who have become rich may have had
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#17330862106036032-451: The Kingdom of Kongo after the death of António I. Much of the stability and access to iron ore and charcoal necessary for gunsmiths to maintain the arms industry was disrupted. From then on, in this period almost every Kongolese citizen was in danger of being enslaved. Many Kongolese subjects were adroit in making guns, and they were enslaved to have their skills available to colonists in
6148-427: The Kingdom of Kongo was highly centralised around its monarch and controlled neighbouring states as vassals . It had a strong economy, based on the industries of copper , ivory , salt , hides , and, to a lesser extent, slaves . The transition from a feudal system of slavery to a capitalist one with Portugal would prove crucial to the history of the Kingdom of Kongo. As relations between Kongo and Portugal grew in
6264-497: The MPLA and its rivals accepted material assistance from the Soviet Union or the People's Republic of China , the former harboured strong anti-imperialist views and was openly critical of the United States and its support for Portugal. This allowed it to win important ground on the diplomatic front, soliciting support from nonaligned governments in Morocco , Ghana , Guinea , Mali , and
6380-627: The MPLA influenced a decision by the Central Intelligence Agency to likewise provide substantial covert aid to the FNLA and UNITA. In August 1975, the MPLA requested direct assistance from the Soviet Union in the form of ground troops. The Soviets declined, offering to send advisers but no troops; however, Cuba was more forthcoming and in late September dispatched nearly five hundred combat personnel to Angola, along with sophisticated weaponry and supplies. By independence, there were over
6496-562: The New World, where they worked as blacksmiths, ironworkers, and charcoal makers. The Portuguese established several other settlements, forts and trading posts along the Angolan coast, principally trading in Angolan slaves for plantations . Local slave dealers provided a large number of slaves for the Portuguese Empire , usually in exchange for manufactured goods from Europe. This part of
6612-754: The Ovimbundu, and the isolation of peasants on European plantations where they had little opportunity to mobilise. During the late 1950s, the rise of the Marxist–Leninist Popular Movement for the Liberation of Angola (MPLA) in the east and Dembos hills north of Luanda came to hold special significance. Formed as a coalition resistance movement by the Angolan Communist Party , the organisation's leadership remained predominantly Ambundu and courted public sector workers in Luanda . Although both
6728-643: The Portuguese depended on assistance from the British Royal Navy and what became known as the Blockade of Africa to enforce their ban on the slave trade. This coincided with a series of renewed military expeditions into the bush. By the mid-nineteenth century Portugal had established its dominion as far north as the Congo River and as far south as Mossâmedes . Until the late 1880s, Portugal entertained proposals to link Angola with its colony in Mozambique but
6844-537: The authoritarian system and the aristocracy. If several villagers were deemed guilty of a crime, it became relatively common for the whole village to be enslaved. The resulting chaos and internal conflict from Garcia II's reign would lead into that of his son and successor, António I . He was killed in 1665 by Portuguese at the Battle of Mbwila 1665, together with a substantial proportion of the aristocracy. The colonists were expanding their power. War broke out more widely in
6960-471: The belief that limiting wealth will gain the political favor of a voting bloc , or fear that extreme concentration of wealth results in rebellion. Various forms of socialism attempt to diminish the unequal distribution of wealth and thus the conflicts and social problems arising from it. During the Age of Reason , Francis Bacon wrote "Above all things good policy is to be used so that the treasures and monies in
7076-474: The bottom 60% of the world population held the same wealth in 2012 as the people on Forbes' Richest list consisting of 1,226 richest billionaires of the world. A 2021 Oxfam report found that collectively, the 10 richest men in the world owned more than the combined wealth of the bottom 3.1 billion people, almost half of the entire world population. Their combined wealth doubled during the pandemic. ‘Global wealth Report 2021’, published by Credit Suisse, shows
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#17330862106037192-401: The bottom 80% of the population owned 15%. From 1922 to 2010, the share of the top 1% varied from 19.7% to 44.2%, the big drop being associated with the drop in the stock market in the late 1970s. Ignoring the period where the stock market was depressed (1976–1980) and the period when the stock market was overvalued (1929), the share of wealth of the richest 1% remained extremely stable, at about
7308-520: The broader dysfunction of a dollar dominated political system particular to the US than with the role of the extremely wealthy. Counterbalances to wealth concentration include certain forms of taxation, in particular wealth tax , inheritance tax and progressive taxation of income. However, concentrated wealth does not necessarily inhibit wage growth for ordinary workers with low wages. The investor, billionaire , and philanthropist Warren Buffett , one of
7424-639: The brokering of a ceasefire pending negotiations for Angolan independence. Encouraged by the Organisation of African Unity , Holden Roberto, Jonas Savimbi, and MPLA chairman Agostinho Neto met in Mombasa in early January 1975 and agreed to form a coalition government. This was ratified by the Alvor Agreement later that month, which called for general elections and set the country's independence date for 11 November 1975. All three factions, however, followed up on
7540-424: The ceasefire by taking advantage of the gradual Portuguese withdrawal to seize various strategic positions, acquire more arms, and enlarge their militant forces. The rapid influx of weapons from numerous external sources, especially the Soviet Union and the United States, as well as the escalation of tensions between the nationalist parties, fueled a new outbreak of hostilities. With tacit American and Zairean support
7656-875: The continued political agitation in favour of the independence of the exclave of Cabinda (carried out in the context of the protracted Cabinda conflict by the FLEC ). While most of the internally displaced have now squatted around the capital, in musseques ( shanty towns ) the general situation for Angolans remains desperate. A drought in 2016 caused the worst food crisis in Southern Africa in 25 years, affecting 1.4 million people across seven of Angola's eighteen provinces. Food prices rose and acute malnutrition rates doubled, impacting over 95,000 children. José Eduardo dos Santos stepped down as President of Angola after 38 years in 2017, being peacefully succeeded by João Lourenço , Santos' chosen successor. Some members of
7772-420: The decisive Battle of Quifangondo , although UNITA managed to withdraw its civil officials and militia from Luanda and seek sanctuary in the southern provinces. From there, Savimbi continued to mount a determined insurgent campaign against the MPLA. Between 1975 and 1991, the MPLA implemented an economic and political system based on the principles of scientific socialism , incorporating central planning and
7888-415: The distribution of wealth at the right tail (the wealth of the very rich); stating that the upper 20% owns 80%, the upper 4% owns 64%, the upper 0.8% owns 51.2%, etc. In fact, the tail of wealth distributions, similar to that of income distribution, behaves like a Pareto distribution but with a thicker tail. Wealth over people (WOP) curves are a visually compelling way to show the distribution of wealth in
8004-401: The distribution of wealth wanted to explain the statistical regularities, and also comprehend the relationship of basic forces which could be an explanation for the concentration of wealth to be high and the trend of declining over time. More lately, the research about wealth distribution has moved away from the worry with overall distributional characteristics, and in its place focuses more on
8120-521: The dos Santos family were later linked to high levels of corruption. In July 2022, ex-president José Eduardo dos Santos died in Spain. In August 2022, the ruling party, MPLA, won another majority and President Lourenço won a second five-year term in the election . However, the election was the tightest in Angola's history. At 1,246,700 km (481,400 sq mi), Angola is the world's twenty-second largest country – comparable in size to Mali, or twice
8236-466: The early 16th century, trade between the kingdoms also increased. Most of the trade was in palm cloth, copper, and ivory, but also increasing numbers of slaves. Kongo exported few slaves, and its slave market had remained internal. But, following the development of a successful sugar-growing colony after Portuguese settlement of São Tomé , Kongo became a major source of slaves for the island's traders and plantations. Correspondence by King Afonso documents
8352-441: The economic disruption caused by the pandemic and disconnect between the improvement in the financial and real assets of households. However, the biggest difference can be seen in the 10,000 – US$ 100,000 segment. Since 2013, there had been an increase of almost 10% of total adult population. According to Credit Suisse, the number of adults in this segment tripled since 2000. Credit Suisse explains this fact by stating that this increase
8468-460: The economic growth is highly uneven, with most of the nation's wealth concentrated in a disproportionately small part of the population as most Angolans have a low standard of living ; life expectancy is among the lowest in the world , while infant mortality is among the highest . Angola is a member of the United Nations , African Union , the Community of Portuguese Language Countries , and
8584-587: The fighting between the Portuguese government and local forces, supported to varying degrees by the Portuguese Communist Party . The National Front for the Liberation of Angola (FNLA) recruited from Bakongo refugees in Zaire . Benefiting from particularly favourable political circumstances in Léopoldville , and especially from a common border with Zaire, Angolan political exiles were able to build up
8700-407: The first millennium BC, they were displaced by Bantu peoples arriving from the north, most of whom likely originated in what is today northwestern Nigeria and southern Niger . Bantu speakers introduced the cultivation of bananas and taro , as well as maintenance of large cattle herds, to Angola's central highlands and the Luanda plain. Due to a number of inhibiting geographic factors throughout
8816-457: The forest area was found within protected areas. For the year 2015, 100% of the forest area was reported to be under public ownership . Like the rest of tropical Africa, Angola experiences distinct, alternating rainy and dry seasons. In the north, the rainy season may last for as long as seven months—usually from September to April, with perhaps a brief slackening in January or February. In
8932-656: The government is composed of the President, the vice-presidents and the Council of Ministers. The legislative branch comprises a 220-seat unicameral legislature, the National Assembly of Angola , elected from multi-member province-wide and nationwide constituencies using party-list proportional representation . For decades, political power has been concentrated in the presidency. After 38 years of rule, in 2017 President dos Santos stepped down from MPLA leadership. The leader of
9048-503: The grounds of individual differences in the holdings of wealth. This change was caused partly because the importance of saving for retirement increased, and it is reflected in the vital role now assigned to the model of lifecycle savings developed by Modigliani and Brumberg (1954), and Ando and Modigliani (1963). Another important progress has been the increase in availability and finesse in sets of micro-data, which offer not just estimations of individuals' asset holdings and savings but also
9164-486: The head of the intelligence service, Apolinário José Pereira. Both are considered allies of former president Dos Santos. He also removed Isabel dos Santos , daughter of the former president, as head of the country's state oil company Sonangol . In August 2020, José Filomeno dos Santos , son of Angola's former president, was sentenced for five years in jail for fraud and corruption. Distribution of wealth#Wealth concentration The distribution of wealth differs from
9280-634: The ideas of Marx have nominally influenced various states in the 20th century, the Marxist notions of socialism and communism remains elusive. On the other hand, the combination of labor movements , technology , and social liberalism has diminished extreme poverty in the developed world today, though extremes of wealth and poverty continue in the Third World . In the Outlook on the Global Agenda 2014 from
9396-482: The inroads from Luanda and Benguela were very limited. Hamstrung by a series of political upheavals in the early 1800s, Portugal was slow to mount a large scale annexation of Angolan territory. The slave trade was abolished in Angola in 1836, and in 1854 the colonial government freed all its existing slaves. Four years later, a more progressive administration appointed by Portugal abolished slavery altogether. However, these decrees remained largely unenforceable, and
9512-551: The interior of the region. The Portuguese colony that became Angola did not achieve its present borders until the early 20th century and experienced the strong resistance from the native groups such as the Cuamato, the Kwanyama , and the Mbunda . After a protracted anti-colonial struggle (1961–1974), Angola achieved independence in 1975 as a one-party Republic , but the country descended into
9628-493: The international community. The Soviet Union and Cuba became especially sympathetic towards the MPLA and supplied that party with arms, ammunition, funding, and training. They also backed UNITA militants until it became clear that the latter was at irreconcilable odds with the MPLA. The collapse of Portugal's Estado Novo government following the 1974 Carnation Revolution suspended all Portuguese military activity in Africa and
9744-581: The kingdom was due to the salient issue of the slave trade, which had become an increasingly violent struggle. There was a constant need for slaves for the kings and queens to sell in exchange for foreign commodities, the absence of which would prevent them from having any influence with European powers such as Portugal and eventually the Dutch Republic . Kongolese kings needed this influence to garner support from European powers for quelling internal rebellions. The situation became increasingly complicated during
9860-682: The market economy were also reduced in an attempt to draw foreign investment. By May 1991 it reached a peace agreement with UNITA, the Bicesse Accords , which scheduled new general elections for September 1992. When the MPLA secured a major electoral victory, UNITA objected to the results of both the presidential and legislative vote count and returned to war. Following the election, the Halloween massacre occurred from 30 October to 1 November, where MPLA forces killed thousands of UNITA supporters. On 22 February 2002, government troops killed Savimbi in
9976-505: The most equal country in terms of wealth distribution. When compared to the report made by Credit Suisse in 2019, an increasing trend of wealth inequality can be observed. This may be the result of repercussions of the Covid-19 pandemic. The biggest increase was recorded in Brazil. The Gini coefficient in 2019 was 88.2% and 89% in 2021, with an increase of 0.8% over this period. The following table
10092-503: The national currency of nzimbu shells , which could be traded for slaves. These could be sold to gain international currency. As the slave trade was the only commodity in which Europeans were interested in the region during the 16th and 17th centuries, the Kongo economy was unable to diversify or later industrialise outside of sectors in which slavery was involved, such as the arms industry . The increased production and sale of guns within
10208-539: The next five years. The lower-middle segment of the pyramid containing adults with a net worth in the range of USD 10,000 and USD 100,000 is projected to rise by 237 million adults. Most of these new members are most likely to be from lower-income countries. The upper-middle segment, consisting of adults with wealth between USD 100,000 and USD 1 million is projected to rise by 178 million adults. Most of these new members (approximately 114 million) are likely to come from upper-middle-income countries. Number of global millionaires
10324-506: The people scale to p=99. Then it drops vertically to wealth = 0 at (p=100, w=0). The other extreme is the "perfect tyranny" form. It starts on the left at the Tyrant's maximum wealth of 100%. It then immediately drops to zero at p=2, and continues at zero horizontally across the rest of the people. That is, the tyrant and his friends (the top percentile) own all the nation's wealth. All other citizens are serfs or slaves. An obvious intermediate form
10440-542: The potential for novel consumer products and innovative financial services targeted at this often neglected segment. The pyramid shows that: In 2020, Credit Suisse created an updated wealth pyramid infographic. The infographic was constructed similarly to the pyramid in 2013, thus personal assets were calculated in net worth. In 2020, Credit Suisse estimated that approximately 2.88 billion people (55% of adult population) have wealth below US$ 10,000. Further, 1.7 billion individuals (38.2% of adult population) have wealth within
10556-577: The power of the monarchy. He also established a royal monopoly on some trade. To govern the growing slave trade, Afonso and several Portuguese kings claimed a joint monopoly on the external slave trade. The slave trade increasingly became Kongo's primary, and arguably sole, economic sector . A major obstacle for the Kingdom of Kongo was that slaves were the only commodity for which the European powers were willing to trade. Kongo lacked an effective international currency . Kongolese nobles could buy slaves with
10672-413: The purchase and sale of slaves within the country. His accounts also detail which slaves captured in war were given or sold to Portuguese merchants. Afonso continued to expand the kingdom of Kongo into the 1540s, expanding its borders to the south and east. The expansion of Kongo's population, coupled with Afonso's earlier religious reforms, allowed the ruler to centralize power in his capital and increase
10788-457: The range of 10,000 – US$ 100,000. To continue, 583 million people have wealth within the range of 100,000 – US$ 1,000,000 and approximately 56 million people (1.1% of adult population) have wealth over US$ 1,000,000. Vast differences between 2013 and 2020 infographic can be observed. For the first time, more than 1% of all global adults have wealth over US$ 1,000,000. Credit Suisse explains in the ‘Global Wealth Report 2021’, that this increase reflects
10904-464: The rest of the territory was completed by 1650. New treaties with the Kongo were signed in 1649; others with Njinga 's Kingdom of Matamba and Ndongo followed in 1656. The conquest of Pungo Andongo in 1671 was the last major Portuguese expansion from Luanda, as attempts to invade Kongo in 1670 and Matamba in 1681 failed. Colonial outposts also expanded inward from Benguela, but until the late 19th century
11020-451: The richest 1% of adults alone owned 40% of global assets in the year 2000, and that the richest 10% of adults accounted for 85% of the world total. The bottom half of the world adult population owned 1% of global wealth. A 2006 study found that the richest 2% own more than half of global household assets . The Pareto distribution gives 52.8% owned by the upper 1%. According to the OECD in 2012
11136-539: The rule of Garcia II , who needed the assistance of the Dutch military to drive out the Portuguese from Luanda , in spite of the fact that Portugal was Kongo's primary slave trading partner. By the early 17th century, the supply of foreign slaves captured by the Kongolese externally was waning. The government began to approve the enslavement of freeborn Kongolese citizens for relatively minor infractions, nearly any disobeying of
11252-456: The rural workforce. Portugal's refusal to address increasing Angolan demands for self-determination provoked an armed conflict, which erupted in 1961 with the Baixa de Cassanje revolt and gradually evolved into a protracted war of independence that persisted for the next twelve years. Throughout the conflict, three militant nationalist movements with their own partisan guerrilla wings emerged from
11368-562: The same, while a Gini coefficient of 1 (or 100%) reflects maximal inequality among values, a situation where a single individual has all the income while all others have none. According to the Credit Suisse ‘Global wealth Report 2021’, Brunei had the highest Gini coefficient in 2021 (91.6%), therefore the wealth distribution in Brunei is vastly unequal. Slovakia had the lowest Gini coefficient in 2021 (50.3%) out of all countries, which makes Slovakia
11484-574: The second-largest Lusophone ( Portuguese-speaking ) country in both total area and population and is the seventh-largest country in Africa . It is bordered by Namibia to the south, the Democratic Republic of the Congo to the north, Zambia to the east, and the Atlantic Ocean to the west. Angola has an exclave province, the province of Cabinda , that borders the Republic of the Congo and
11600-484: The size of France or of Texas. It lies mostly between latitudes 4° and 18°S , and longitudes 12° and 24°E . Angola borders Namibia to the south, Zambia to the east, the Democratic Republic of the Congo to the north-east and the South Atlantic Ocean to the west. The coastal exclave of Cabinda in the north has borders with the Republic of the Congo to the north and with the Democratic Republic of
11716-585: The south were the kingdoms of Ndongo and Matamba , with the Ovimbundu kingdoms further south, and the Mbunda Kingdom in the east. The Portuguese began colonising the coast in the 16th century. Kongo fought three wars against the Portuguese, ending in the Portuguese conquest of Ndongo. The banning of the slave trade in the 19th century severely disrupted Kongo's undiversified economic system and European settlers gradually began to establish their presence in
11832-459: The south, the rainy season begins later, in November, and lasts until about February. The dry season ( cacimbo ) is often characterized by a heavy morning mist. In general, precipitation is higher in the north, but at any latitude it is greater in the interior than along the coast and increases with altitude. Temperatures fall with distance from the equator and with altitude and tend to rise closer to
11948-399: The territory of Angola, namely harshly traversable land, hot/humid climate, and a plethora of deadly diseases, intermingling of pre-colonial tribes in Angola had been rare. After settlement of the migrants, a number of political entities developed. The best-known of these was the Kingdom of Kongo , based in Angola. It extended northward to what are now the Democratic Republic of the Congo ,
12064-483: The top 0.6% of world population (consisting of adults with more than US$ 1 million in assets) or the 42 million richest people in the world held 39.3% of world wealth. The next 4.4% (311 million people) held 32.3% of world wealth. The bottom 95% held 28.4% of world wealth. The large gaps of the report get by the Gini index to 0.893, and are larger than gaps in global income inequality, measured in 2009 at 0.38. For example, in 2012
12180-547: The top 10% of land owners (all corporations) in Baltimore, Maryland own 58% of the taxable land value. The bottom 10% of those who own any land own less than 1% of the total land value. This form of analysis as well as Gini coefficient analysis has been used to support land value taxation . In 2013, Credit Suisse prepared a wealth pyramid infographic (shown right). Personal assets were calculated in net worth , meaning wealth would be negated by having any mortgages. It has
12296-515: The total wealth. Again, when compared to the 2013 wealth distribution pyramid, a decrease of 1.7% can be observed. In conclusion, this comparison shows a substantial worldwide increase in wealth inequality over these years. One of the main explanations for the ongoing increase of wealth inequality are the repercussions of the COVID-19 pandemic. Credit Suisse claims that the economic impact of the pandemic on employment and incomes in 2020 are likely to have
12412-458: The upper class, and sometimes to diminish economic inequality . Examples of this practice go back at least to the Roman republic in the third century B.C., when laws were passed limiting the amount of wealth or land that could be owned by any one family. Motivations for such limitations on wealth include the desire for equality of opportunity, a fear that great wealth leads to political corruption, to
12528-665: The wealthiest people in the world, voiced in 2005 and once more in 2006 his view that his class, the "rich class", is waging class warfare on the rest of society. In 2005 Buffet said to CNN: "It's class warfare, my class is winning, but they shouldn't be." In a November 2006 interview in The New York Times , Buffett stated that "[t]here’s class warfare all right, but it’s my class, the rich class, that’s making war, and we’re winning." In many societies, attempts have been made, through property redistribution , taxation , or regulation , to redistribute wealth, sometimes in support of
12644-502: The wealthy exert power over the legislative process, which enables them to increase the wealth disparity. An example of this is the high cost of political campaigning in some countries, in particular in the US (more generally, see also plutocratic finance ). Because these mechanisms are non-exclusive, it is possible for all three explanations to work together for a compounding effect, increasing wealth concentration even further. Obstacles to restoring wage growth might have more to do with
12760-508: The winning party at the parliamentary elections in August 2017 would become the next president of Angola. The MPLA selected the former Defense Minister João Lourenço as Santos' chosen successor. In what has been described as a political purge to cement his power and reduce the influence of the Dos Santos family, Lourenço subsequently sacked the chief of the national police, Ambrósio de Lemos, and
12876-463: The world in 2020, increasing by 5.2 million from a year earlier. The biggest number of dollar millionaires is reported in the USA, with 22 million millionaires (approximately 39% of the world total). This is far ahead of China, holding second place, with 9.4% of all global millionaires. The third place is currently being held by Japan, with 6.6% of all global millionaires. While sizeable numbers of households own no land, few have no income. For example,
12992-439: Was a result of growing prosperity of emerging economies, especially China, and the expansion of the middle class in the developing world. The upper-middle segment, with wealth in a range of 100,000 – US$ 1,000,000 has increased by 3.4%. Credit Suisse in the report states that the middle class in developed countries typically belong to this group. According to the ‘Global wealth Report 2021’, published by Credit Suisse, global wealth
13108-469: Was blocked by British and Belgian opposition. In this period, the Portuguese came up against different forms of armed resistance from various peoples in Angola. The Berlin Conference in 1884–1885 set the colony's borders, delineating the boundaries of Portuguese claims in Angola, although many details were unresolved until the 1920s. Trade between Portugal and its African territories rapidly increased as
13224-530: Was created from information provided by the Credit Suisse Research Institute's "Global Wealth Databook", Table 3-1, published 2021. Wealth is unevenly distributed across different world regions. At the end of the 20th century, wealth was concentrated among the G8 and Western industrialized nations , along with several Asian and OPEC nations. In the 21st century, wealth is still concentrated among
13340-570: Was derived by the Portuguese from the title ngola , held by the kings of Ndongo and Matamba . Ndongo in the highlands , between the Kwanza and Lucala rivers, was nominally a possession of the Kingdom of Kongo . But in the 16th century it was seeking greater independence. Modern Angola was populated predominantly by nomadic Khoi and San peoples prior to the first Bantu migrations . The Khoi and San peoples were hunter-gatherers , rather than practicing pastoralism or cultivation of crops. In
13456-409: Was the Kingdom of Matamba . The lesser Kingdom of Kakongo to the north was later a vassal of the Kingdom of Kongo. The people in all of these states spoke Kikongo as a common language. Portuguese explorer Diogo Cão reached the area in 1484. The previous year, the Portuguese had established relations with the Kingdom of Kongo , which stretched at the time from modern Gabon in the north to
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