Question

What explains the origins of wealth in the New World?

Answer 1

• The fall and rise of Asia : A large part of the total world's wealth was situated in Asia since many years. As a result of the industrial revolution, the global economy of Europe's amd America's rised suddenly and thus the wealth in Asia distributed to the total world.

• The return of inequality in Britain & Germany :

  in 18th and 19th centuries, most of the wealth was associated with the agricultural land. But then these were replaced by the net foreign capital. Due to the world wars, these wealth had to be paid for that. Then these wealth are retaken by the rise in the value of houses which largely includes uraban & suburban lands.

• America's age of equality : America experienced a different wealth condition in the history. The wealth was lesser compared to the ongoing income.

• The really really rich are different from others :  The really rich persons are didn't paid for the work, but they get money as a result of their pre -existing wealth.

• Wealth is much more unequal than income : The wealth is distributed differently among the total people in different nations. Due to loans, credit cards or underwater mortgages, wealth is reasonably negative or lesser.

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