The One Percent

Some people in the US are just incredibily rich. These are the top one percent that controls half the wealth of US. Will it be the same in other countries too? Perhaps, but in China most of the wealth still belongs to the government and not the private owners.  In other word, China is still not a true capitalist society as yet, though the capitalist class is emerging there.

Private owners or the capitalists are usually better and more efficent in managing wealth than the government or government owned companies. However, from a social justice or ethics point of views, government ownership of wealths and assets is preferable, as the dividends can be redistributed for the benefit of the majority. I do hope that a balance could be attained in China in years to come.

This 80-minute documentary focuses on the growing “wealth gap” in America, as seen through the eyes of filmmaker Jamie Johnson, a 27-year-old heir to the Johnson & Johnson pharmaceutical fortune. Johnson, who cut his film teeth at NYU and made the Emmy®-nominated 2003 HBO documentary Born Rich, here sets his sights on exploring the political, moral and emotional rationale that enables a tiny percentage of Americans – the one percent – to control nearly half the wealth of the entire United States. The film Includes interviews with Nicole Buffett, Bill Gates Sr., Adnan Khashoggi, Milton Friedman, Robert Reich, Ralph Nader and other luminaries.

Advertisements

About kchew

an occasional culturalist
This entry was posted in China view, Economy and business. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s