Global Wealth Report 2015

Source: Kathrin Brandmeir, Michaela Grimm, Michael Heise, Arne Holzhausen, Allianz, 2015

….USA = Unequal States of America
In order to show how wealth is distributed at national level, we have calculated a Gini coefficient for each country, based on the average net financial assets per population decile, for the first time in this report, namely for the past (period around 2000) and for the present day. Looking at all of the countries in our analysis, the number of countries in which the Gini coefficient of wealth distribution has ”improved” over time (i.e. showing more equal distribution) is roughly on a par with the number of countries in which it has deteriorated. This does not necessarily mean that the general trend is towards greater inequality. … The world‘s developed countries, on the other hand, paint a much more heterogeneous picture, with exceptionally large gaps between both the levels of, and the rates of change in, the Gini coefficients. Most of these countries have seen a (sometimes considerable) increase in the inequality of distribution in recent years. This holds true for the US in particular, where the crisis and the sluggish economic recovery that followed have caused a dramatic deterioration in wealth distribution. The increase in inequality is more pronounced here than in any other country during the period analyzed. The result: the USA (= ”Unequal States of America”) has the highest Gini coefficient in our analysis. Developments have not been quite as dramatic in the other countries. It is, however, striking that trends towards a greater concentration of wealth are not found primarily in the European crisis countries, but rather in countries like Switzerland, France, Austria or Italy. ….