Much of the 99% analysis focuses on how the world might look in the year 2050. And of course that depends on the types of policies that we follow between now and then.
Today’s median earner takes home just under £25,000 year. What will that figure be in 2050?
If we were to follow the pre-2010 trends, by 2050 the median earner would be taking home almost £35,000 a year.
At the other end of the spectrum, if we follow the coronavirus with a no-deal Brexit and permanent austerity, we might be looking much more like £16,000.
In the first case, the average person would have a far easier life than today – though still not luxurious. In the second case most people would be living in or near today’s poverty line. The UK would have become a bit like South Africa: a small number of immensely wealthy people living surrounded by intense security to protect them from the impoverished masses.
And of course the people to whom this matters most are today’s younger generations – those now aged under 30 – who will have to live for many decades in this world.
Generation 99 is a project exploring how this generation can shape its own destiny, and ensure that in 2050, the world is a much better place to live in.