How the Billionaire Boom Is Fueling Inequality — and Threatening Democracy
As wealth concentrates at the top, Europe must act now to defend democracy and economic stability for all.
13 May 2025
Fernanda Balata and Sebastian Mang wrote about the myth of trickle-down economics in Social Europe:
Trickle-down economics is a myth. Instead of fostering prosperity, extreme wealth accumulation fuels inequality, destabilises economies, and undermines democracy. In 2024, the wealth of Europe’s 440 billionaires grew by nearly €400 million each day, with a new billionaire emerging almost weekly. This contrasts with the widespread concern of Europeans struggling to meet the cost of living. But this is a global issue: while the world may soon have five trillionaires, global poverty rates remain stagnant.
Topics Democracy & participation
