Yes, 2013 was a very good year...if you were rich


According to many financial experts, last year marked a turning point in which the world finally began to put the financial crisis behind it. But if 2013 was the year when stock and property markets recovered to pre-crisis levels, it was also a period when the gap between the super rich and everyone else widened to levels not seen for practically a century. In the United States, as much as half of national income went to the very rich, a concentration of wealth last seen in 1917. In Europe poverty has made a comeback, and the most disadvantaged are scrambling to feed themselves and their families. Martine Orange reports.

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If you believe the experts, 2013 was a much better year than expected. For many of them the upheavals caused by the 2008 economic crisis were now over. To back their interpretation of a return to normality, commentators turned to the “historic” performances of world stock markets. From New York to Tokyo, from Frankfurt to London, the markets soared to new records, eradicating all trace of 2008.