Comparative Poverty: The Top 1% vs the Top 0.1%

Someone at the bottom of the top percentile of incomes is on about £120,000 a year. The top 0.1%, however, gets over £500,000…. The very rich price the reasonably rich out of houses and schools: top private school fees have soared in recent years because they market themselves to the global rich.1

The Palms Casino Resort in Las Vegas is taking the concept of luxe travel to a whole different level. Its new Damien-Hirst-designed Empathy Suite costs $100,000 a night.

The room is the most expensive in America, beating out one at The Mark hotel, which previously held the accolade at $75,000 a night. And Empathy is also one of the world’s most expensive hotel accommodations, according to The Palms. (In fact, it’s potentially the most expensive: The Royal Penthouse Suite at the President Wilson Hotel in Geneva — at about $80,000 a night — was the world’s most expensive suite in 2018, according to Lonely Planet.)2

1 https://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2019/03/the-1-vs-the-01.html

2 https://marginalrevolution.com/marginalrevolution/2019/03/markets-in-everything-60.html#comments

Chris (I thought that it was quite nice but I prefer a Travelodge)

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