【龙腾网】富人如何变得更富有 - 世界经济中的金钱

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How the rich get richer – money in the world economy 

富人如何变得更富有——世界经济中的金钱

Wealth begets wealth. This simple concept of privilege has added to growing discontent with inequality that has escalated under the shadow of the COVID-19 pandemic.

财富带来财富。这种简单的特权概念加剧了人们对不平等的不满，这种不平等在新冠疫情的阴影下不断扩大。

Detailed data on wealth are extremely rare, but 12-years of tax records (2004-2015) from Norway have opened a new window into wealth accumulation for individuals and their offspring. The Nordic country has a wealth tax that requires assets to be reported by employers, banks and other third parties in order to reduce errors from self-reporting. The data, which are made public under certain conditions, also make it possible to match parents with their children.

有关财富的详细数据极为罕见，但挪威12年的纳税记录（2004-2015年）为个人及其后代的财富积累打开了新的窗口。这个北欧国家有一项财富税，要求雇主、银行和其他第三方报告资产，以减少自我报告的错误。这些数据在一定条件下公开，也使比较父母与其子女成为了可能。

The data show that an individual in the 75th percentile of wealth distribution who invested $1 in 2004 would have yielded $1.50 by the end of 2015—a return of 50 percent. A person in the top 0.1 percent would have yielded $2.40 on the same invested dollar—a return of 140 percent.

数据显示，处于财富分配的第75百分位以内的个人，如果在2004年投资1美元，到2015年底将获得1.50美元的收益——回报率为50%。同样的投资，最富有的0.1%的人可以获得2.40美元的收益——回报率为140%。

Another significant finding: High returns both bring individuals to the top of the wealth scale and prevent them from leaving it. Controlling for age, parental background and earnings, moving from the 10th percentile to 90th percentile of wealth distribution increases the probability of making it to the top 1 percent by 1.2 percentage points compared to an average probability of 0.89 percent.

另一项重要发现是：高回报既能让个人登上财富榜的顶端，也能让他们不会离开。如果考虑年龄、父母背景和收入等因素，从财富分配的第10个百分位到第90百分位，进入最富有的1%的概率就会增加1.2个百分点，而平均几率为0.89%。

The wealthy get wealthier
Individuals at a higher level of wealth get higher risk-adjusted returns from their investments.(percent)

富人变得更富有
财富水平较高的个人从投资中获得更高的风险调整后收益。（百分比）

Source: Fagereng et al. (2020) Heterogeneity and persistence in returns to wealth. Econometrica 88(1): 115-170.
Note: The figure shows the average return to the individual financial wealth portfolios adjusted for their volatility for 2005-2015 against the financial wealth percentile in 2004.

资料来源：Fagereng et al. (2020) 《财富回报的异质性和持续性》。计量经济学 88（1）：115-170。
注：该图显示了2005-2015年个人金融财富投资组合的平均回报率，根据2004年的金融财富百分位数进行了调整。

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评论翻译

Robert Forever Ago
We need a new documentary on this topic post corona virus.

我们需要一部后新冠疫情时代关于这个主题的新纪录片

M S
@Robert Forever Ago Exposing all the fraud thats happening behind the corona excuse...... The rich are getting even richer and the poor are loosing everything, eve their shelter.... the middle class got wiped out...

@Robert Forever Ago 揭露隐藏在新冠疫情背后所有的欺诈借口……富人越来越富有，穷人失去了一切，失去了他们的庇护所……中产阶级被消灭了……

Divyansh Dwivedi
So one day this system will crash and day will be very hard for everyone.

所以总有一天这个系统会崩溃，那一天对每个人来说都会很艰难。

CRM6718
"Today's slaves are those who willingly sign up a 30 year mortgage" -me

“今天的奴隶是那些自愿签署30年期抵押贷款的人”——我认为

WG00
@Pani Poni Dash please try this yourself and then do an upxe

@Pani Poni Dash 请自己尝试一下，然后进行更新

Pani Poni Dash
@WG00 Research "Enric Duran", a catalonian activist that took 40 bank loans, 450k euro in loans, he lives in brazil now, the total amount of prison asked for him is 8 years by the courts and for him to pay off his loans, He?s doing none of these things.
I am going to do this, once I have no reason to live or visit Europe anymore.

@WG00 Research “Enric Duran”，一个加泰罗尼亚的活动家，接受了40笔银行贷款，45万欧元的贷款，他现在住在巴西，法院判他的总刑期是8年，让他偿还他的贷款，他的啥也没做。
一旦我要这样做了的话，我就再也没有理由生活或访问欧洲。

Spartaculus Jones
"Honesty is less profitable than dishonesty." - Plato

“诚实没有不诚实赚钱。”——柏拉图

nIndja
Give a man a gun he can rob a bank, give a man a bank and he will rob the world.

给一个人一把枪他可以抢劫银行，给一个人一个银行他就会抢劫世界。

chidubem
@nIndja Oh man that's deep.

@nIndja 哦，天哪，太有内涵了！

Nelson Carter
@nIndja The old saying that it takes money to make money is true.

@nIndja 老话说得好，有钱才能赚钱。

Ivan Espinoza
@Daniel Hama Life for most people: Go to primary and secondary school just to get a piece of paper that piece of paper with a score attached to it will determined which university you go to just to get another piece of paper. Get debt so you can get another piece of paper. Slave away 40 years of your life away to your employer just to realised that your company will abandoned you by not giving you your pension and insurance. Live the rest of your life working in Mc Donald or other low paying jobs. Not the life I want to live.

@Daniel Hama 大多数人的生活:上小学和中学只是为了得到一张纸，那张附有分数的纸将决定你去哪所大学只是为了得到另一张纸——借债，这样你就能得到另一张纸。在你的雇主那里苦干了40年，才发现你的公司会抛弃你，不给你养老金和保险。在麦当劳或其他低薪的工作中度过你的余生。这不是我想要的生活。

Serpent ZAchary
@Ivan Espinoza True. American dream is a hoax and people are still buying into that illusion. I am just shaking my head by thinking about how these people haven't wake up to the fact that they're being robbed of their dream day by day.

@Ivan Espinoza 美国梦是一个骗局，人们仍然相信这种错觉。我只是摇着头，想着这些人怎么还没有意识到他们的梦想正一天天被剥夺。

Mehmet Do?an ?zdemir
Coronavirus came in such a timely manner. It's really interesting. The world is gonna change quicker than we thought, that's for sure.

冠状病毒来得真是时候。真的很有趣，世界的变化肯定比我们想象的要快。

James Sohn
But the effing Fed dumped trillions of fake money into the system. Powell should be locked up

但该死的美联储却向金融体系投放了数万亿的假币。鲍威尔应该被关起来

Don Vreeland
@James Sohn Dumped trillions? Fake? What's the damage? That $1.5 T is going to help the economy. $1.2k helps (should be $15k). Send me your $1.2k and all your 'Fake cotton paper' with 'green ink...'
Which Powell?

@James Sohn 投放数万亿？假币？有什么损失？1.5万亿美元将有助于经济。1200元的救济金（应该发1.5万美元）。把你的1200美元和你所有的“绿色墨水”的“假棉纸”寄给我……
哪个鲍威尔？

NTH THN
How the rich get richer: ''Financial bailout'', according to COVID-19

富人如何变得更富有：“金融救助”，由于新冠疫情

Dean Aly
The rich are using debt, usury and inflation to become richer against the poor who get poorer.

富人利用债务、高利贷和通货膨胀来让自己变得更富，而穷人变得更穷。

Din Joekhannaz
@Dean Aly Its the main reason why Christian and Islam forbid usury and interest whatsoever,.. the price will always gone up due to inflation

@Dean Aly 这就是为什么基督教和伊斯兰教禁止高利贷和利息的主要原因……由于通货膨胀价格总是上涨

Baby Tho.
@Mark Golding
How about the individuals get the same right as the banks. With $100 in bank , we should be able to write a check of $10,000.00 with the law applicable to everyone.

那么个人和银行拥有同样的权利呢?银行里有100美元，我们应该可以写一张10000美元的支票，法律适用于所有人。

Max de Later
?@Baby Tho. The way a bank works is that when you hold your savings in the bank, the bank assumes that enough people will keep enough of their savings in the bank so that the bank can lend off that money to people who seek a loan to buy a house or start a business, but require those people to pay interest on the loan. This financial leverage actually adds a lot of value to society. Otherwise everyone would have to pay for their house, car, or anything that you need to open a business in cash, which is not possible for most. Without these banks, house prices would be even higher than they are today. Only the rich would be able to buy a car, because only they would have the money to pay for it in cash and the market for new cars would be way smaller because of it, so good luck getting your hands on one second hand. This decreased demand would make cars more expensive too. And to add to that; the companies that build these cars would need to pay for their factories in cash too. I'm left-leaning too, but all these comments are based on a total disregard for basic economics.

?@Baby Tho. 银行的工作方式是，当你把存款存在银行时，银行会假设有足够的人会把他们的储蓄存到银行里，这样银行就可以把这些钱借给那些想贷款买房或创业的人，但要求这些人支付贷款利息。这种金融杠杆实际上为社会增加了很多价值，否则，每个人都必须用现金支付他们的房子、汽车或任何你需要的东西，这对大多数人来说是不可能的。如果没有这些银行，房价将比现在更高。只有有钱人才能买车，因为只有他们有钱用现金买车，而新车的市场也会因此而缩小，所以祝你有一辆二手车。需求的减少也会使汽车更贵。此外，制造这些汽车的公司也需要用现金支付工厂的费用。我也有左倾倾向，但所有这些评论都是建立在完全无视基本经济学的基础上的。

Heidi
@Mark Golding
Yep! That is why I prefer living a simple minimalist lifestyle than being in debt.

是的!这就是为什么我喜欢过一种简单的极简主义的生活方式而不是负债。

Sakura Chan
@Heidi
living like that scares me. It feels like the only way to be free and safe is by having a lot of money otherwise you're always a slave to someone. Like if you get cancer tomorrow or a car accident or something= homeless

那样的生活让我害怕。感觉上，获得自由和安全的唯一方式就是拥有大量金钱，否则你就永远是某人的奴隶。比如如果你明天得了癌症，或者出了车祸，或者别的什么 = 无家可归

piyush bhattad
Welcome to the dystopian society of capitalism where world has enough for everyone's need but not for everyone's greed

欢迎来到资本主义的反乌托邦社会，在这个社会里，世界有足够的资源满足每个人的需求，但不能满足每个人的贪婪

MonkeySpecs301
stealing from the real producers of society, they've been doing it since the dawn of civilization.

从真正的社会生产者那里偷东西，他们从文明之初就一直在这么做。

gordon Nz
@MonkeySpecs301 it's called taxes used to wage war enslave and rob others

@MonkeySpecs301 它被称为税收，用来发动战争，奴役和抢劫他人

Go Digital Website
The person who doesn't know where his next dollar is coming from usually doesn't know where his last dollar went.

不知道他下一美元从哪里来的人通常也不知道他上一美元到哪里去了。

AndTheTimeGoesOn
It is funny how these people trying to stop the banks from making money are asking for the exact opposite of what they should be asking for. A bank creates money each time it deems a customer worth of credit. THIS IS TOTALY FINE. If the bank makes a mistake and the customer cannot pay, the bank will lose their own money because the bank still owes the money to the central bank. The problem comes when the central bank lends even more money to a failing bank just because they are friends or family. Then banks can not loose. The problem is not in the fiat system. The problem is in the opaque central banks that take decisions in secret and lend money to their friends without any accountability. Imagine you are a family member of a central bank controller. You give a loan or make an investment: if it works you make money legally. If it fails you ask the central bank for more money until you win. All legal. Losses are transformed into inflation and paid by all, gains are all yours.

有趣的是，这些人试图阻止银行赚钱，却提出了与他们应该提出的要求完全相反的要求。银行每次认为客户有信用价值时就会创造货币。这完全没问题。如果银行出了差错，客户不能付款，银行就会损失他们自己的钱，因为银行还欠中央银行钱。当央行仅仅因为一家濒临倒闭的银行是朋友或家人，就借给他们更多的钱时，问题就来了。那么银行就不能放松了。问题不在于法定制度。问题在于不透明的央行，它们秘密决策，不承担任何责任的情况下把钱借给它们的朋友。假设你是一位央行行长的家庭成员。你提供贷款或进行投资，如果这可行，你就可以合法地赚钱。如果失败了，你就向中央银行要更多的钱，直到你赢，一切合法。损失转化为通货膨胀，由所有人承担，收益归你所有。

Ken Richard
@AndTheTimeGoesOn Profit is privatized, loses are socialized. Heads they win, tails you lose.

@AndTheTimeGoesOn 利润私有化，损失社会化。正面他们赢，反面你们输。

Mr Egusi
This is unprecedented daylight robbery of the masses on an incredible scale.
Quantitative Easy is the biggest scam ever unleashed on people.

这是前所未有的光天化日之下对群众的抢劫，规模之大令人难以置信。
量化宽松是有史以来对人民实施的最大骗局。

Amit Kumar
@Mr Egusi Federal Reserve Bank of USA has destroyed the lives of billions of people. We need an armed revolution. And an inside revolution in USA. No one should be allowed to print money.. least of all a private company

@Mr Egusi 美国联邦储备银行摧毁了数十亿人的生命。我们需要一场武装革命，以及美国的内部革命。任何人都不应该被允许印钞票……尤其是一家私人公司

brahim119
@Amit Kumar I totally disagree. That just creates chaos and misery and was and will never be a long term solution, History is witness.

@Amit Kumar 我完全不同意。这只会造成混乱和痛苦，过去和将来都不会是长期的解决办法，历史就是明证。

May the Science be with You
The gap between the poor and rich is ever widening. It's harder for the poor afford things, especially necessities like housing. The poor might have more money compared to previous times, but that is only due to inflation, that money isn't worth as much as it used to be anymore, so effectively, the poor are becoming poorer. The reason they don't have it worse but actually better in many ways than people in the past is thanks to the technolocial advancement. If it weren't for that, the poor would live like shit.

贫富差距在不断扩大。穷人更难买得起东西，尤其是住房等必需品。与以前相比，穷人可能拥有更多的钱，但这只是由于通货膨胀，这些钱不再像以前那样值钱了，所以实际上，穷人正在变得更穷。他们之所以没有比过去更糟，但实际上在很多方面都比过去的人好，这要归功于技术的进步。如果不是这样，穷人就会过得像屎一样。