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lundi 3 mars 2014

Wealth Distribution in Ukraine : Medieval

This CNBC chart shows the extent of inequality in Ukraine. Ukraine is ruled by oligarchs not by its people.
This shows more than any other economic statistics the failure and evils of communism, when that system collapsed it gave rise to a society and economic system which combined the worst of capitalism (extreme inequality, cronyism, distasteful display of wealth, etc.) with the evils inherited from socialism (widespread corruption of officials, underground mafia economy, remnants of communist social conditioning). The Ukrainian society looks like a throwback to feudality to quote a CNBC reporter. Don't be surprised if Ukrainians are going medieval on each other.  

The TOP 50 richest in Ukraine have a combined wealth worth 46% of the country's GDP. Most of their money is stashed abroad (some here in Switzerland probably), invested in real estate, art and yachts.