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Inequality - how wealth becomes power (1/2) | (Poverty Richness Documentary) DW Documentary

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Published on Aug 18, 2018

Germany is one of the world’s richest countries, but inequality is on the rise. The wealthy are pulling ahead, while the poor are falling behind.

For the middle classes, work is no longer a means of advancement. Instead, they are struggling to maintain their position and status. Young people today have less disposable income than previous generations. This documentary explores the question of inequality in Germany, providing both background analysis and statistics. The filmmakers interview leading researchers and experts on the topic. And they accompany Christoph Gröner, one of Germany’s biggest real estate developers, as he goes about his work. "If you have great wealth, you can’t fritter it away through consumption. If you throw money out the window, it comes back in through the front door,” Gröner says. The real estate developer builds multi-family residential units in cities across Germany, sells condominium apartments, and is involved in planning projects that span entire districts. "Entrepreneurs are more powerful than politicians, because we’re more independent,” Gröner concludes. Leading researchers and experts on the topic of inequality also weigh in, including Nobel-prize winning economist Joseph Stiglitz, economist Thomas Piketty, and Brooke Harrington, who carried out extensive field research among investors from the ranks of the international financial elite. Branko Milanović, a former lead economist at the World Bank, says that globalization is playing a role in rising inequality. The losers of globalization are the lower-middle class of affluent countries like Germany. "These people are earning the same today as 20 years ago," Milanović notes. "Just like a century ago, humankind is standing at a crossroads. Will affluent countries allow rising equality to tear apart the fabric of society? Or will they resist this trend?”
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Comments • 3,841

Riho Hiiepuu
What most of the people seem to forget, is that there is a difference between working hard and working smart. there is a saying that if hard work was all you needed to be rich, then physical labor workers would be the richest people. The other thing is responsibility and risk taking. The security guard makes a mistake, something might happen or not, probably might not affect anyone badly. If he is fired, he can look for a new job. The CEO makes a small mistake, that could mean that all of his employees will need to find new jobs the next day and and he has to start over from nothing. with so many people losing their jobs can ruin the economy of a city if the company is big enough. Responsibility and value is what gets you paid a lot, second is risks you are willing to take. 95% of the people are just not willing to take such risks, time investments, and responsibility. THIS is the reason why the difference between the rich and middle class is so huge. Even in this documentary it says that the rich guy started from the bottom, doing simple construction jobs. But he was willing to risk it all by starting his own company and try and survive. His company did and now its huge. I don't see the inequality. Everyone has opportunities in life that they could use to get to a better place. Want better things in life? Learn, improve yourself and work for it, that means taking risks and dealing with failures.
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D Sun
I have to say DW is way better than CNN, BBC, Fox news...etc, those media organizations always try really hard to spread their propaganda, to brainwash their audiences. DW on the other hand just tell the stories as the way they are, let the audiences to decide themselves.
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Nine Tailed Fox
“It is evident that most people don’t know how money works, if they did there would be a revolution before tomorrow’s sunrise “. -HENRY FORD
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Reginald Dawson
Too many people believe they are 'Middle Class' when they are really with the class of Working Poor. 'Middle Class' is a feeling for the too many. Wealth is measured in numbers and proven on financial statements.
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QuantumPhysics4u
"We are all self made, but only the successful will admit it."
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Justin Russell
“I speak two or three foreign languages”.....well, which is it? Two or three? Sounds like talk from a typical security guard
ebiros2
This guy can't enjoy his house with a pool because he has no time. Classic case of having a cake and can't eat it.
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oberon79
1998 me in high school: how could a prosper and rich empire like roma collapse? 2018 me: oh...
NPC with AI features
In a time, when an entire generation is being taught from birth, that they're all so unique and special, most cannot even imagine anymore, that they're essentially just a number, and can be replaced in an instant with countless other numbers. Someone, who brings in millions for his investors, will be in a much higher place, than someone, who 'just wants to work hard', because the market cares only about value. And in such a market, a random luck of being in the right place, at the right time, even for a single second, can be worth much more, than decades of hard work with no holidays.
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Umuntu
Why is there a sudden wave of socialist thinking?
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