According to Ken Rogoff, "The latest Forbes list of America’s wealthiest individuals showed that last year’s highest nine earners, whose ranks include New York City’s mayor, Michael Bloomberg, managed to increase their wealth by $5-9 billion last year. Yes, that is just the annual increase in their wealth. Collectively, their $55 billion in earnings outstripped the entire national income of more than 100 countries. To put these astronomical numbers in perspective, ... to be among the top nine earners in the United States, you had to pull in at least $150 per second , including time spent eating and sleeping. That is $9,000 per minute, or $540,000 per hour."
(hat tip to Greg Manikw)
IPE @ UNC
IPE@UNC is a group blog maintained by faculty and graduate students in the Department of Political Science at the University of North Carolina at Chapel Hill. The opinions expressed on these pages are our own, and have nothing to do with UNC.
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Monday, November 12, 2007
Dollars per Second for High-Earning Americans
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