‘Great Polarization’ May Be Next for World’s Rich, UBS Says

Spy Scandal Leaves UBS Group AG With A Headache

Photographer: Stefan Wermuth/Bloomberg

The huge boost to the fortunes of technology and health-care billionaires during the coronavirus pandemic may be the beginning of a more permanent trend.

The Covid-19 shock could act as a catalyst to spur increased opportunities for those who offer digital or other tech solutions, while the wealth of those in older industries may in turn suffer, UBS Group AG and PricewaterhouseCoopers said Wednesday in a report.

“Those that are the innovators and the disruptors, the architects of creative destruction in the economy, are still increasing their wealth,” the 2020 Billionaires Insights report found. “The net wealth of billionaires in entertainment, financial services, materials and real estate sectors lagged the rest of the universe.”

Despite the global economic shock, the world’s 500 richest people are a combined $813 billion richer now than they were at the beginning of the year, according to the Bloomberg

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Tool could be used to simulate interventions on issues such as polarization — ScienceDaily

Northwestern University researchers have developed the first quantitative model that captures how politicized environments affect U.S. political opinion formation and evolution.

Using the model, the researchers seek to understand how populations change their opinions when exposed to political content, such as news media, campaign ads and ordinary personal exchanges. The math-based framework is flexible, allowing future data to be incorporated as it becomes available.

“It’s really powerful to understand how people are influenced by the content that they see,” said David Sabin-Miller, a Northwestern graduate student who led the study. “It could help us understand how populations become polarized, which would be hugely beneficial.”

“Quantitative models like this allow us to run computational experiments,” added Northwestern’s Daniel Abrams, the study’s senior author. “We could simulate how various interventions might help fix extreme polarization to promote consensus.”

The paper will be published on Thursday (Oct. 1) in the journal Physical Review

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