# Income Inequality-France Has Never Been Richer **URL:** \ **Category:** Macro Economic Trends and Risks\ **Created:** [October 22, 2026, 2:41pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898 "2026-10-22T14:41:02Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![tjscott0](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/tjscott0/32/1083_2.png) [@tjscott0](https://discussion.fool.com/u/tjscott0)\ **Post date:** [October 22, 2026, 2:41pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/1 "2026-10-22T14:41:02Z")
> **[High schoolers, students: the twilight of macronism](https://thomaspiketty.wordpress.com/2026/10/20/high-schoolers-students-the-twilight-of-macronism/)** > > The current high school and student movement in France marks the twilight of Macronism. Young people are asking for one simple thing: resources to get an education and access to quality studies. In… _To justify the inadequacy of education funding, and in particular the decrease in spending per student, the government and its supporters argue that France cannot afford to invest more. They are making two reasoning errors. Public debt has indeed risen from 20% of GDP in 1970 to 120% today. But at the same time, **private wealth has grown much more dramatically: It has gone from 300% to 600% of GDP, with extreme concentration among the wealthiest financial fortunes. In other words, France’s national wealth – the sum of private and public assets minus private and public debts – has never been so high, not only in absolute terms but also as a percentage of GDP (which itself has never been higher).**_ I sense a trend here. > **[UK’s 50 richest families hold more wealth than 50% of population, analysis finds](https://www.theguardian.com/news/2025/may/19/uk-50-richest-families-hold-more-wealth-than-50-of-population-analysis-finds)** > > Equality Trust says billionaires getting ‘ludicrously’ richer, with top two now wealthier than whole of 1990 rich list > **[Global Wealth Report 2026: Global wealth rose over 10% in 2025 | UBS Global](https://www.ubs.com/global/en/media/display-page-ndp/en-20260630-gwr-2026.html)** > > In 2025, global wealth expanded at its fastest pace since 2017, marking the third consecutive year of growth. The latest edition of the UBS Global Wealth Report shows a broad-based increase in personal wealth, driven by strong financial markets and... **and rising non‑financial assets, with average wealth growing faster than global economic output. However, gains were uneven, with differences across regions and wealth segments.** More at link. > **[Wealth Inequality - Inequality.org](https://inequality.org/facts/wealth-inequality/)** > > The United States exhibits has more inequality and disparities of wealth between rich and poor than any other major developed nation. _As of January 1, 2026, the collective net worth of America’s top 12 billionaires now surpasses $2.7 trillion. Their combined wealth has more than quadrupled, up from $608 billion on March 18, 2020, according to Institute for Policy Studies analysis of Forbes [Real Time Billionaire Data](https://www.forbes.com/real-time-billionaires/#a9ac9993d788)._ _Comparing the wealthiest Americans in 1918 and 2025, economist [Paul Krugman finds](https://paulkrugman.substack.com/p/meet-the-new-bosses-worse-than-the?utm_source=substack&publication_id=277517&post_id=202048275&utm_medium=email&utm_content=share&utm_campaign=email-share&triggerShare=true&isFreemail=true&r=718ixs&triedRedirect=true) that today’s top fortunes represent a significantly larger share of both national wealth and economic output than they did during the Gilded Age, an era commonly associated with the extreme concentration of wealth._ ---
**Author:** ![bjurasz](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/bjurasz/32/7233_2.png) [@bjurasz](https://discussion.fool.com/u/bjurasz)\ **Post date:** [October 22, 2026, 3:00pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/2 "2026-10-22T15:00:31Z")
When normal people hoard belongings we intervene, tell them they have a problem. When rich people hoard wealth we celebrate it. ---
**Author:** ![DrBob2](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/drbob2/32/3456_2.png) [@DrBob2](https://discussion.fool.com/u/DrBob2)\ **Post date:** [October 22, 2026, 4:23pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/3 "2026-10-22T16:23:42Z")
> [@tjscott0](#): > > To justify the inadequacy of education funding, and in particular the decrease in spending per student, the government and its supporters argue that France cannot afford to invest more The weird (?) part of it all is that French government spending is already 55-60% of their GDP. It would appear the government needs to shift its spending, not spend more. DB2 ---
**Author:** ![WendyBG](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/wendybg/32/67464_2.png) [@WendyBG](https://discussion.fool.com/u/WendyBG)\ **Post date:** [October 22, 2026, 8:18pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/4 "2026-10-22T20:18:35Z")
> [@bjurasz](#): > > When normal people hoard belongings we intervene, tell them they have a problem. When rich people hoard wealth we celebrate it. Usually “normal” hoarders collect junk. Rich “hoarders” collect money. Nobody criticizes “normal” hoarders who collect money. 😉 Wendy ---
**Author:** ![Goofyhoofy](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/goofyhoofy/32/4721_2.png) [@Goofyhoofy](https://discussion.fool.com/u/Goofyhoofy)\ **Post date:** [October 23, 2026, 2:27pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/5 "2026-10-23T14:27:30Z")
> [@WendyBG](#): > > Nobody criticizes “normal” hoarders who collect money. I do. I have a neighbor who is a doctor. Plenty of money. Doesn’t spend a dime, house looks like crap, yard overgrown, etc. When he’s visiting his kids I feed his cats, and the inside of the house looks like the outside. The kitchen is from the 1950’s even though it’s an 80”s house. Stuff piled on an ironing board because the dining room table is already full. Etc. Yeah he hoards money, but everything else, too. (Broken down car in the driveway, hasn’t moved in 8 years,) Yeah, I criticize 😉 ---
**Author:** ![FOOLME45](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/foolme45/32/2642_2.png) [@FOOLME45](https://discussion.fool.com/u/FOOLME45)\ **Post date:** [October 26, 2026, 12:06pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/6 "2026-10-26T12:06:33Z")
> [@DrBob2](#): > > The weird (?) part of it all is that French government spending is already 55-60% of their GDP. ![HVdrxy9XUAAf4_q](https://us1.discourse-cdn.com/motleyfoolfree/original/3X/8/2/821ea9039f1d43ad2bb21ff7dbbdb380d1708ecd.webp) Apparently spending the most by govt does not make for a better and happier society. Perhaps, Dostoevsky was right. ---
**Author:** ![iampops5](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/iampops5/32/1543_2.png) [@iampops5](https://discussion.fool.com/u/iampops5)\ **Post date:** [October 26, 2026, 12:26pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/7 "2026-10-26T12:26:06Z")
The cited articles were a good read. I always enjoy Piketty. ---
**Author:** ![jaagu](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/jaagu/32/6160_2.png) [@jaagu](https://discussion.fool.com/u/jaagu)\ **Post date:** [October 26, 2026, 6:17pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/8 "2026-10-26T18:17:04Z")
@FOOLME45 What kind of propaganda are you selling? Cherry picking numbers from over 40 years ago. Where is the US on the chart? Where is the link? ---
**Author:** ![FOOLME45](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/foolme45/32/2642_2.png) [@FOOLME45](https://discussion.fool.com/u/FOOLME45)\ **Post date:** [October 26, 2026, 6:30pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/9 "2026-10-26T18:30:34Z")
> [@jaagu](#): > > What kind of propaganda are you selling? Cherry picking numbers from over 40 years ago. Where is the US on the chart? Where is the link? It’s not propaganda it’s a Rand chart illustrating just how massive the spending is in France compared to communist countries at their peak to GDP. It is in fact a dire warning for the US as well. What it tells us is that high spending paired with diminishing economic growth does not work long term. Despite the fact that they have free college, free health care, generous pensions and so on, it is never enough, even when it exceeds the spending of full blown communist countries. “The more the govt spends the worst the conditions get for people” [David Friedberg: France’s Crisis Is a Warning for America](https://www.youtube.com/shorts/wO4BLBzNEFs) ---
**Author:** ![jaagu](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/jaagu/32/6160_2.png) [@jaagu](https://discussion.fool.com/u/jaagu)\ **Post date:** [October 27, 2026, 9:40am UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/10 "2026-10-27T09:40:38Z")
> [@FOOLME45](#): > > David Friedberg: France’s Crisis Is a Warning for America He is a super supporter of Donald Trump. ---
**Author:** ![FOOLME45](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/foolme45/32/2642_2.png) [@FOOLME45](https://discussion.fool.com/u/FOOLME45)\ **Post date:** [October 27, 2026, 10:26am UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/11 "2026-10-27T10:26:06Z")
> [@jaagu](#): > > He is a super supporter of Donald Trump. it’s the worst kind of ignorance when someone else’s politics prevents you from seeing the truth. But, this has become the insidiousness of the left and the narrowness of their Overton window, to only agree and listen to those that also share their ideology. By the way, I would hardly call him a super supporter. Of course, the Rand research group is agnostic politically and is the source of the chart. ---
**Author:** ![DrBob2](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/drbob2/32/3456_2.png) [@DrBob2](https://discussion.fool.com/u/DrBob2)\ **Post date:** [October 27, 2026, 11:37am UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/12 "2026-10-27T11:37:50Z")
> [@jaagu](#): > > He is a super supporter of Donald Trump. Do you alway identify someone by whom they support? “Oh, she’s a big supporter of Gavin Newson.” DB2 ---
**Author:** ![jaagu](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/jaagu/32/6160_2.png) [@jaagu](https://discussion.fool.com/u/jaagu)\ **Post date:** [October 27, 2026, 10:37pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/13 "2026-10-27T22:37:41Z")
> [@FOOLME45](#): > > David Friedberg: France’s Crisis Is a Warning for America ![image](https://us1.discourse-cdn.com/motleyfoolfree/original/3X/0/2/021e55727c6ec9a3dce7289b7c6293b27b1e2d08.jpeg) ---
**Author:** ![jaagu](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/jaagu/32/6160_2.png) [@jaagu](https://discussion.fool.com/u/jaagu)\ **Post date:** [October 27, 2026, 10:52pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/14 "2026-10-27T22:52:59Z")
> [@FOOLME45](#): > > It’s not propaganda it’s a Rand chart illustrating just how massive the spending is in France compared to communist countries at their peak to GDP. He got the chart from Michael A. Arouet ([Michael A. Arouet (@MichaelAArouet) / X](https://x.com/MichaelAArouet)) Not sure why you think it is a Rand research. I tried to find ir on Rand’s website, but found nothing. > **[Michael A. Arouet — Grokipedia](https://grokipedia.com/page/Michael_A_Arouet)** > > Michael A. Arouet is a pseudonymous online commentator specializing in analyses of the economy, politics, investing, technical charts, and ironic commentary on current events, shared primarily through ---
**Author:** ![Goofyhoofy](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/goofyhoofy/32/4721_2.png) [@Goofyhoofy](https://discussion.fool.com/u/Goofyhoofy)\ **Post date:** [October 27, 2026, 11:30pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/15 "2026-10-27T23:30:31Z")
The chart is pretty meaningless without including something about “what it pays for.” For example, there’s a huge chunk in the “big” numbers - like public health care, that isn’t in the US number. You could argue that the US system is superior, except that every independent study says it isn’t, that we pay more, receive less, and have lower life expectancies than lots of countries with “public health”. But you could make the argument, I guess. Also in some of those other numbers are things like “free or highly subsidized higher education”, a more generous social safety net, and so on. On the other side, we spend a higher percentage on defense and military than do most comparable countries. ---
**Author:** ![Leap1](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/leap1/32/72176_2.png) [@Leap1](https://discussion.fool.com/u/Leap1)\ **Post date:** [October 27, 2026, 11:38pm UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/16 "2026-10-27T23:38:12Z")
> [@FOOLME45](#): > > it’s the worst kind of ignorance when someone else’s politics prevents you from seeing the truth. Did he just say that? I think he does not listen to himself. ---
**Author:** ![FOOLME45](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/foolme45/32/2642_2.png) [@FOOLME45](https://discussion.fool.com/u/FOOLME45)\ **Post date:** [October 28, 2026, 1:20am UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/17 "2026-10-28T01:20:15Z")
> [@jaagu](#): > > Not sure why you think it is a Rand research. I tried to find ir on Rand’s website, but found nothing. The podcast referenced it as a Rand research. Does it matter? It doesn’t to me only what the data seems to show. France is spending more as a % GDP than communist countries at their peak. It is unsustainable and people still are unhappy and riot. What does it say about the ineffectiveness of continued govt spending? ---
**Author:** ![FOOLME45](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/foolme45/32/2642_2.png) [@FOOLME45](https://discussion.fool.com/u/FOOLME45)\ **Post date:** [October 28, 2026, 1:21am UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/18 "2026-10-28T01:21:15Z")
> [@Goofyhoofy](#): > > The chart is pretty meaningless without including something about “what it pays for.” Somehow some of the smartest guys in the world are blown away by the data but you view it as meaningless. ---
**Author:** ![Leap1](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/leap1/32/72176_2.png) [@Leap1](https://discussion.fool.com/u/Leap1)\ **Post date:** [October 28, 2026, 2:42am UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/19 "2026-10-28T02:42:53Z")
Goof, That’s an interesting point about experts in the wrong hands. France’s spending on public goods is lower. Universal care included France is a deal. Their government also funds the pension system. Most Americans should only be so lucky. ---
**Author:** ![captainccs](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/captainccs/32/3775_2.png) [@captainccs](https://discussion.fool.com/u/captainccs)\ **Post date:** [October 28, 2026, 10:48am UTC](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898/20 "2026-10-28T10:48:09Z")
> [@Goofyhoofy](#): > > The chart is pretty meaningless without including something about “what it pays for.” Debt is debt no matter what you spent it on. The Captain [Next page](https://discussion.fool.com/t/income-inequality-france-has-never-been-richer/126898.md?page=2)