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Half Of World’s Richest 1% Live In U.S. (6th January, 2012)

Half of the richest one per cent of people in the world live in the United States. This figure comes from a World Bank economist called Branko Milanovic. His new book “The Haves and the Have-Nots” looks at how money is spread around the world. He found there are 60 million people in the world on $34,000 a year, after tax, and 29 million of these live in the U.S. He said this amount is for each person, so a family of four would need to make $136,000 to be among the richest one per cent.

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There are four million people in Germany who get a post-tax salary of $34,000. The rest are in Europe, Latin America and a few Asian countries. Milanovic also says that middle class in America is different from other countries. Most middle class people outside of America do not own their own home, have a car or save for retirement and their kids’ college education. His book says there is a growing middle class in the world’s most populated countries, China and India, but it is still very small and most Chinese and Indians are poor.

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PHRASE MATCH

Match the following phrases from the article.

Paragraph 1

1.

Half of the richest one

a.

to make $136,000

2

The Haves and the

b.

around the world

3.

how money is spread

c.

Have-Nots

4.

this amount is for

d.

richest one per cent

5.

a family of four would need

e.

per cent of people

6.

among the

f.

each person

 

Paragraph 2

1.

post-tax

a.

retirement

2

The rest are

b.

home

3.

middle

c.

salary

4.

own their own

d.

populated countries

5.

save for

e.

in Europe

6.

the world’s most

f.

class


LISTENING GAP FILL

___________________ one per cent of people in the world live in the United States. This ___________________ a World Bank economist called Branko Milanovic. His new book “The Haves and the Have-Nots” looks at ___________________ around the world. He found there are 60 million people in the world on $34,000 a year, ___________________, and 29 million of these live in the U.S. He said this amount ___________________, so a family of four would ___________________ $136,000 to be among the richest one per cent.

There are four million people in Germany ___________________ salary of $34,000. ___________________ Europe, Latin America and a few Asian countries. Milanovic also says that middle class in America ___________________ other countries. Most middle class people outside America do not ___________________ home, have a car or ___________________ and their kids’ college education. His book says there is a growing middle class in the world’s ___________________ countries, China and India, but it is still very small and most Chinese and Indians are poor.


MULTIPLE CHOICE

Half of the richest one per cent (1) ____ people in the world live in the United States. This (2) ____ comes from a World Bank economist called Branko Milanovic. His new book “The Haves and the Have-Nots” (3) ____ at how money is spread around the world. He found there are 60 million people in the world on $34,000 a year, after (4) ____, and 29 million of these live in the U.S. He said this (5) ____ is for each person, so a family of four would need to (6) ____ $136,000 to be among the richest one per cent.

There are four million people in Germany who get a (7) ____-tax salary of $34,000. The (8) ____ are in Europe, Latin America and a (9) ____ Asian countries. Milanovic also says that middle class in America is different from (10) ____ countries. Most middle class people outside America do not own their own home, have a car or save for retirement and their kids’ college education. His book says there is a (11) ____ middle class in the world’s most populated countries, China and India, but it is (12) ____ very small and most Chinese and Indians are poor.

Put the correct words from this table into the article.

1.

(a)

from

(b)

of

(c)

for

2.

(a)

statue

(b)

reckon

(c)

figure

3.

(a)

looks

(b)

look

(c)

looking

4.

(a)

tax

(b)

taxed

(c)

taxing

5.

(a)

amounts

(b)

amounted

(c)

amounts

6.

(a)

be

(b)

make

(c)

do

7.

(a)

post

(b)

mail

(c)

letter

8.

(a)

rest

(b)

relax

(c)

break

9.

(a)

several

(b)

few

(c)

various

10.

(a)

another

(b)

the others

(c)

other

11.

(a)

growth

(b)

grew

(c)

growing

12

(a)

stand

(b)

still

(c)

although


SPELLING

Spell the jumbled words (from the text) correctly.

Paragraph 1

1.

oleepp in the world

2.

This fgireu comes from a World Bank economist

3.

money is sdarpe around the world

4.

$34,000 a year, ftera tax

5.

this oamnut is for each person

6.

be nomga the richest

 

Paragraph 2

7.

four nimllio people

8.

post-tax alasyr of $34,000

9.

idldem class in America

10.

save for imrertneet

11.

college nidaucote

12.

the world’s most pepdauolt countries


PUT THE TEXT BACK TOGETHER

Number these lines in the correct order.

1  )

Half of the richest one per cent of people in the world live in the United States. This figure

(    )

There are four million people in Germany who get a post-tax salary of

(    )

person, so a family of four would need to make $136,000 to be among the richest one per cent.

(    )

$34,000. The rest are in Europe, Latin America and a few Asian countries. Milanovic also says that middle

(    )

comes from a World Bank economist called Branko Milanovic. His new

(    )

the world. He found there are 60 million people in the world on $34,000 a year, after

(    )

America do not own their own home, have a car or save for retirement and their kids’ college

(    )

class in America is different from other countries. Most middle class people outside

(    )

book “The Haves and the Have-Nots” looks at how money is spread around

(    )

tax, and 29 million of these live in the U.S. He said this amount is for each

(    )

countries, China and India, but it is still very small and most Chinese and Indians are poor.

(    )

education. His book says there is a growing middle class in the world’s most populated


THE READING / TAPESCRIPT

With a partner, put the words back into the correct order.

1.

of     one     of     Half     richest     cent     the     per     people.    

2.

comes     economist     from     a     This     World     figure     Bank.    

3.

world     the     around     spread     is     money     How.    

4.

$34,000     on     world     the     60     in     people     million.    

5.

this     He     person     for     amount     said     is     each     .

6.

post     -     tax     salary     People     in     Germany     who     get     a.     

7.

America   from    in   different    countries    class    is    other    Middle.

8.

people     America     Most     class     outside     middle.    

9.

retirement     for     save     or     car     a     Have.    

10.

growing     says     a     class     book     is     middle     His     there.    


DISCUSSION (Write your own questions)

STUDENT A’s QUESTIONS (Do not show these to student B)

1.

________________________________________________________

2.

________________________________________________________

3.

________________________________________________________

4.

________________________________________________________

5.

________________________________________________________

6.

________________________________________________________

------------------------------------------------------------------------------

STUDENT B’s QUESTIONS (Do not show these to student A)

1.

________________________________________________________

2.

________________________________________________________

3.

________________________________________________________

4.

________________________________________________________

5.

________________________________________________________

6.

________________________________________________________


WRITING

Write about being rich for 10 minutes. Show your partner your paper. Correct each other’s work.

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________

______________________________________________________________________________


HOMEWORK

1. VOCABULARY EXTENSION: Choose several of the words from the text. Use a dictionary or Google’s search field (or another search engine) to build up more associations / collocations of each word.

2. RICH: Search the Internet and find more information about the world’s richest people. Talk about what you discover with your partner(s) in the next lesson.

3. MAGAZINE ARTICLE: Write a magazine article about being rich. Include an imaginary interview with a very rich person. Read what you wrote to your classmates in the next lesson. Give each other feedback on your articles.

4. WHAT HAPPENED NEXT? Write a newspaper article about the next stage in this news story. Read what you wrote to your classmates in the next lesson. Give each other feedback on your articles.

5. LETTER: Write a letter to an expert on being rich. Ask him/her three questions about being rich. Give him/her three of your opinions on it. Read what you wrote to your classmates in the next lesson. Your partner will answer the questions you asked.

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