Showing posts with label Oxfam. Show all posts
Showing posts with label Oxfam. Show all posts

Tuesday, January 17, 2017

IT'S CAPITALISM, STUPID: Just eight men own same wealth as half the world

According to the latest report published by Oxfam eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity. Oxfam's report 'An economy for the 99%'shows that the gap between rich and poor is far greater than had been feared. 

More specifically:
• Eight men now own the same amount of wealth as the poorest half of the world.

• Over the next 20 years, 500 people will hand over $2.1 trillion to their heirs – a sum larger than the GDP of India, a country of 1.3 billion people.

• The incomes of the poorest 10% of people increased by less than $3 a year between 1988 and 2011, while the incomes of the richest 1% increased 182 times as much.

• A FTSE-100 CEO earns as much in a year as 10,000 people in working in garment factories in Bangladesh.

• In the US, new research by economist Thomas Piketty shows that over the last 30 years the growth in the incomes of the bottom 50% has been zero, whereas incomes of the top 1% have grown 300%.

• In Vietnam, the country’s richest man earns more in a day than the poorest person earns in 10 years.