Between the poorest 50 percent (who own 5 percent of total wealth, or an average of 20,000 euros each in the example [Europe 2010]) and the richest 10 percent (who own 60 percent of total wealth, or an average of 1.2 million euros each) lies the middle 40 percent: this “middle class of wealth” owns 35 percent of total national wealth, which means that their average net wealth is fairly close to the average for society as a whole—in the example, it comes to exactly 175,000 euros per adult.
Related Authors: Ayn Rand John Locke Peter Drucker Vladimir Lenin Milton Friedman Adam Smith Thomas Sowell