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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOxfam: 85 richest people as wealthy as poorest half of the world
http://www.theguardian.com/business/2014/jan/20/oxfam-85-richest-people-half-of-the-worldThe InterContinental Davos luxury hotel in the Swiss mountain resort of Davos. Oxfam report found people in countries around the world believe that the rich have too much influence over the direction their country is heading. Photograph: Arnd Wiegmann/REUTERS
The world's wealthiest people aren't known for travelling by bus, but if they fancied a change of scene then the richest 85 people on the globe who between them control as much wealth as the poorest half of the global population put together could squeeze onto a single double-decker.
The extent to which so much global wealth has become corralled by a virtual handful of the so-called 'global elite' is exposed in a new report from Oxfam on Monday. It warned that those richest 85 people across the globe share a combined wealth of £1tn, as much as the poorest 3.5 billion of the world's population.
The wealth of the 1% richest people in the world amounts to $110tn (£60.88tn), or 65 times as much as the poorest half of the world, added the development charity, which fears this concentration of economic resources is threatening political stability and driving up social tensions.
It's a chilling reminder of the depths of wealth inequality as political leaders and top business people head to the snowy peaks of Davos for this week's World Economic Forum. Few, if any, will be arriving on anything as common as a bus, with private jets and helicoptors pressed into service as many of the world's most powerful people convene to discuss the state of the global economy over four hectic days of meetings, seminars and parties in the exclusive ski resort.
TBF
(32,081 posts)secondwind
(16,903 posts)Trillo
(9,154 posts)same as it ever was
ck4829
(35,078 posts)valerief
(53,235 posts)Half the world are just layabouts.
That's what we're supposed to believe.
JackInGreen
(2,975 posts)Truth from a good Irish boy.
(edited because I'm having issues linking a youtube video)
cer7711
(502 posts)But unsurprising. This is exactly the result end-game capitalism leads to without proper taxation policies in place to circulate wealth.
As liberals we shouldn't be running from extolling the virtures of progressive taxation, but rather explaining at every turn how regressive taxation destroys the middle and working classes of a country.
tblue
(16,350 posts)frwrfpos
(517 posts)Capitalism not only condones but encourages greed and hoarding of money at the expense of people. When 85 human beings control as much wealth as the other half,something is very very wrong
reformist2
(9,841 posts)niyad
(113,490 posts)Progressive dog
(6,915 posts)That would be over 10% of the USA population.
PumpkinAle
(1,210 posts)so high is number 3 on the list.
cer7711
(502 posts)See especially the line: "Sweden has continued to lower taxes on the rich . . ."
PumpkinAle
(1,210 posts)Rex
(65,616 posts)America is always leading the way!
BelgianMadCow
(5,379 posts)it will set us free.
reformist2
(9,841 posts)LondonReign2
(5,213 posts)It's uncontrolled, unregulated, and untaxed capitalism that is the problem.
reformist2
(9,841 posts)cer7711
(502 posts)Last edited Wed Jan 22, 2014, 11:15 AM - Edit history (2)
Nothing wrong with the profit motive--duly taxed, regulated and controlled by governmental authority for the good of all.
It's unrestrained, gangster-style Crony-Capitalism--or the term I prefer, "Scroogilistic Crapitalism"--that leads to obscene disparities of wealth (and health, happiness, education, opportunities for advancement, etc.)
El_Johns
(1,805 posts)JEB
(4,748 posts)What a better world it could be.
polly7
(20,582 posts)So the real question is: in a vastly unjust society, does democracy work? Or does it become just a formal mechanism to accommodate those inside the system, and ignore the excluded? Do those 300 sitting in the plane of extreme wealth have the same view of the world as the 3 billion poor left on the ground? And if not, does their view of the world counts as much as that of the 300 people on the plane?
http://www.globalissues.org/news/2013/09/12/17458