Fire Earth

Earth is fighting to stay alive – mass dieoffs, triggered by anthropogenic assault and fallout of planetary defense systems offsetting the impact, could begin in 2016

What If the ‘Martians’ Had Invaded The World?

Posted by feww on January 18, 2016

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How Human Civilization Got So Screwed Up?

Why Humans Let their World Be Ruled by Evil?

The richest 1% now own more wealth than the rest of the world combined.

62 Individuals have as much wealth as the bottom half: Oxfam

In its latest report, Oxfam outlines how the wealth of the poorest half of the world’s population —more than 3.6 billion people—has fallen by a trillion dollars (41 percent) since 2010, while the wealth of the richest 62 people has inflated by more than half a trillion dollars to $1.76 trillion.

By what right, reason or rhyme?

The global inequality crisis is reaching new extremes. The richest 1% now have more wealth than the rest of the world combined. Power and privilege is being used to skew the economic system to increase the gap between the richest and the rest. A global network of tax havens further enables the richest individuals to hide $7.6 trillion. The fight against poverty will not be won until the inequality crisis is tackled.

The gap between rich and poor is reaching new extremes. Credit Suisse recently revealed that the richest 1% have now accumulated more wealth than the rest of the world put together. This occurred a year earlier than Oxfam’s much publicized prediction ahead of last year’s World Economic Forum. Meanwhile, the wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years. This is just the latest evidence that today we live in a world with levels of inequality we may not have seen for over a century.

AN ECONOMY FOR THE 1%

The gap between rich and poor is reaching new extremes. Credit Suisse recently revealed that the richest 1% have now accumulated more wealth than the rest of the world put together.

Meanwhile, the wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years.

This is just the latest evidence that today we live in a world with levels of inequality we may not have seen for over a century. ‘An Economy for the 1%’ looks at how this has happened, and why, as well as setting out shocking new evidence of an inequality crisis that is out of control.

Oxfam has calculated that:

  • In 2015, just 62 individuals had the same wealth as 3.6 billion people—the bottom half of humanity. This figure is down from 388 individuals as recently as 2010.
  • The wealth of the richest 62 people has risen by 44% in the five years since 2010 – that’s an increase of more than half a trillion dollars ($542 billion), to $1.76 trillion.
  • Meanwhile, the wealth of the bottom half fell by just over a trillion dollars in the same period —a drop of 41% .
  • Since the turn of the century, the poorest half of the world’s population has received just 1% of the total increase in global wealth, while half of that increase has gone to the top 1%.
  • The average annual income of the poorest 10% of people in the world has risen by less than $3 each year in almost a quarter of a century. Their daily income has risen by less than a single cent every year.

The report is posted at http://www.oxfamamerica.org/static/media/files/bp210-economy-one-percent-tax-havens-180116-en_0.pdf

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