Not really a surprise, but most respondents think the wealthy will continue to keep, or increase, their share of the wealth. Even with a somewhat pessimistic outlook, the respondents offer suggestions of how things could improve and ways society could benefit with better sharing.
Comments are grouped into three parts: Wealth Sharing, Wealth Gaps, and Changes for Improvement. My groupings are not absolute since many comments are complex and fit different categories, but they are that much more interesting.
Better Wealth Sharing in Our Future
Although a vast majority of respondents think the wealth gap will become more of a problem, there were many comments discussing how better wealth sharing could happen.
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People especially among the youths are now aware of the need to take charge of their financial future due to present challenges and the COVID-19 crisis showing us the need to build the capacities for financial & material wealth and prosperity. Nigeria
Due to growth in literacy, financial security will be accessible for all. India
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I think the democratic process will see voters force changes to the established order. Trump’s election in 2016, Brexit etc were the voters’ way of rebelling against globalization, which led to gains in the aggregate for developed countries but left large sections of the population (most notable, blue collar workers) much worse off. India
Financial security will become accessible for all, especially through the emergence of social enterprises that have become the focus of venture capitalist and funders. Nigeria
I personally, believe we will redesign all of the economy as automation kills jobs but technology creates a ‘long tail’ individual economy. not a ‘gig’ economy but a real livelihood one. United States
We will move to a base universal income. Netherlands
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I envisage a world where everyone has financial security but we can only wish for now. Ghana
I think it’s getting better basic services for everyone, making the system more equal. More conscious living, good healthcare – for everyone, equal educational opportunities. Rich people should contribute more to this, making a fairer system. Netherlands
The grossly disproportionate disparity in wealth caused great civil upheaval in the late 2020s – severe climate events, especially heat waves resulting in mass deaths of the most vulnerable, gave rise to international treaties to tax and limit the level of personal wealth. (elimination of tax haven practices, heavy taxation on billionaires, etc). These reforms were enacted amidst profound social upheaval. Those entities or individuals continuing to create wealth via carbon producing activities were sanctioned. United States
Wealth might not be accessible to all but they will be a lot more wealth inclusiveness. Nigeria
Wealth Gap – The Rich Get Richer
In the following comments our respondents explain why they think the wealthy will always be the wealthy few.
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I believe wealth will get spread through taxes and other means as the pushback is getting to be really strong and those who have been defending it aren’t the wealthy, but people believing they could be wealthy. But, these people are realizing the access to become wealthy isn’t there and wealth aggregation isn’t something they really can work toward and that frustration is getting louder. United States
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In a world where we still have human beings here, there will no financial security for all. That a utopia. People do the weirdest and greediest things to get and keep money. Netherlands
If history teaches us anything is that history does not teach us anything. Canada
Money = Power unfortunately and people won’t willingly give that up. United Kingdom
A small number of people will continue to be hyper rich and they will control the world with their mega enterprises and connections and influence on governments and their policy making. Hong Kong
The upper 10% of the monied class will hold onto their generational wealth. Ireland
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We are likely to witness an increasing divide between the extremely poor and the extremely rich, with a diminishing middle class. Despite access to basic education and the internet becoming commonplace, and while it might be easier to work towards securing basic financial safety, wealth accumulation will still likely be confined to a relatively small group of people. South Africa
Concentration of wealth will get into a smaller bunch of people – the tech billionaires, the oligarchs, the hidden and humungous wealth of politicians worldwide. In fact, this parallel economy of financiers running such empires will continue to rule the world, more and more openly over time. India
Climate change will lead us to a new point there most people will not afford spend as they to today. This change will increase the gap between the middle class and the group of few and very rich people. Sweden
The desire of the vast majority is for more equality. But that is not where the power to lead or change lies. It keeps getting to be close to impossible for those at the low end of financial inequality to move upwards. Those in the middle will find it hard as well, but even those who can manage to move up will discover that the ceiling has been raised exponentially by the time they get there. The top get richer and more powerful at an exponential rate, while those in the middle can sometimes achieve a linear rate. Those at the bottom simply cannot be raised at any rate approaching something that will achieve equality. United States
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Past industrial revolutions have enabled growth and rising standards of living, but have not lead to sharing of wealth on large scale. Human wisdom will not increase in the next 20 years, so wealth inequality will become more pronounced with more technological (AI) means. Unemployment (displacement of labor) will force us to implement a UBI, which might create some financial security, but not financial independence. Netherlands
Inequalities in wealth are glaring. And don’t seem to be coming down. Crony capitalism is rampant. And while economic progress has pulled up people from abject poverty, the pace of change needs to be accelerated. India
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The tools to amass wealth will become increasingly accessible, but the initiative to harness them and the mindset to persevere through adversity will still remain with a rarer subset keeping the wealth concentration high. United States
The percentage will stay the same. However, with the growing population, the number of people will increase. It is quite up to an individual to decide on which side does he want to stay! India
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Wealth may cease to be a worthy pursuit for the overwhelming majority who do not have the riches. So, purposelessness of accumulation of wealth will become a stronger influence. India
Changes for Improvement
A widening wealth gap isn’t seen as being stoppable, let alone reversable, without serious intervention. Suggestions are government, worldwide catastrophe or revolution.
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We see the rich get richer, but there are some who are taking back control of their lives and money. Some of this is the FIRE movement, other is people educating themselves more. If we truly want to top the scales, we need to teach financial education in junior and high schools. United States
[ed] FIRE is is a lifestyle movement with the goal of gaining financial independence and retiring early.
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Sadly I think the middle class is becoming a thing of the past. Until the tax rates change for businesses and people, financial security is going to become more of a dream than a plan. United States
Wealth will remain primarily in hands of small number of people unless all governments take action together. Belgium
After a decade characterized by heavy scams and experimentations, the new financial ecosystem will mature, ultimately resulting in actual financial wellness opportunities for a larger number. This will by no means mean that the ultra rich will concentrate less wealth but there will be opportunities for a larger number of humans to create incremental wealth and manage it better. Opaque institutions (banks, investment funds, and more) will no longer be able to abuse individuals. The direction towards which wealth will be invested will also benefit a broader number: sustainable and ethical investments will finally reconcile with profit. United Arab Emirates
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Perhaps there will be a collapse of some kind and everyone will have less. South Africa
The present trajectory is that wealth is being concentrated in very few hands and the disparity is also increasing, there is a hollowing out of ‘middle classes’ with a trend to fewer jobs delivering moderate wealth (one impact is impoverishment – but it may also reduce the number of people with the resources (cash and time as extra work is needed to maintain or salvage their living standards) needed to challenge the super-rich using democratic means. United Kingdom
Unfortunately, the rich will remain rich, unless a disruptive event (like a war) bring everyone back to a more equalized starting point. China
The rich have the vast bulk of the wealth and power and each year seem to get ever more wealthy. I don’t see them willingly give that up and think politics, the press and the rich have a very cosy relationship that change won’t come from that direction either. Only a revolution would bring the radical change needed and I don’t think people are fed up or desperate enough for that yet. United Kingdom
