Wealth and Inequality | Oxfam shows the true colors of the rich
The NGO Oxfam today launched its report titled “Governing for the elites: Kidnapping democratic and economic inequality” which claims that the increasing concentration of power leads to extreme wealth and perpetuates inequality. The conclusions of this report are simply devastating and show something we already knew: Wealth is extremely unequally distributed in the world. Here are some figures:
– Almost half of the world’s wealth is held by just 1% of the population.
– The wealth of the 1% of the richest people in the world amounts to 110 billion dollars, 65 times more than the total wealth owned by the poorest half of the world population.
– The poorest half of the world population (3,750 million people) has the same wealth as the 85 richest people in the world.
– The richest 1% of the population has seen its fortunes between 1980 and 2012 increased in 24 of the 26 countries for which data is available.
The report of the organization will be presented at the World Economic Forum to be held in the Swiss city of Davos from next Wednesday, with the intention that commitments are taken to curb inequality on the planet. This is a totally devastating report that is also not without controversy, because Oxfam suggests that some political institutions give a deal of value to the economic elite at the expense of citizens on foot. “We are hijacking the political power to manipulate the rules of the economic game.”