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Common Dreams reports
The world's richest 1 percent now own more wealth than [the remaining] 99 percent combined. This finding comes from Credit Suisse's Global Wealth Report for 2015, [redirects to a PDF] released last week. Last year, Credit Suisse found the richest 1 percent of adults owned 48 percent of global wealth. According to the new report, the [richest] 1 percent now hold 50.4 percent of all the world's household wealth.
Credit Suisse's findings are in line with Oxfam's prediction that global wealth inequality is only becoming greater. Last January, we predicted that the richest 1 percent would capture more than half of all household wealth by 2016. It looks like our prediction was right, but that we were too conservative, since it has happened a year early. Alas, our forecast was confirmed, but it's nothing to celebrate.
When you look at the very top of the global wealth pyramid, the situation is much more alarming. When we first calculated in January 2014, the 85 richest individuals own more wealth than the poorest half of the planet. This trend has also worsened since that time. Last January, it was down to 80 people.
The implications of rising extreme wealth inequality are greatly worrying. The highly unbalanced concentration of economic resources in the hands of fewer and fewer people impacts social stability within countries and threatens security on a global scale. It makes poverty reduction harder, threatens political inclusion, and compounds other inequalities.
(Score: 1) by Bobs on Sunday October 25 2015, @02:45PM
Face it. This is what humans are.
that is a great attitude!
Other times people have shared this attitude (USA-centric):
Saying you are powerless to affect change is a poor, uninformed decision and is giving up and accepting the status quo. It may feel easier but it doesn't make it right or true.
(Score: 2) by frojack on Sunday October 25 2015, @06:18PM
Yes yes, nice rant.
But you've done nothing to disprove the statement that wealth has always been concentrated into the hands of a minority.
In fact, you've pretty well proven the OP's point. Not sure if that is where you thought you were going.
No, you are mistaken. I've always had this sig.
(Score: 2) by Mr Big in the Pants on Sunday October 25 2015, @07:20PM
Nice straw man, but you have missed the point.
Last 50 years: Corporate influenced governments with wealth in the hands of individuals
before that: robber barons and industrialists
before that: Monarchs, royalty of various flavours and the rise of the merchant class
before that: Monarchs and tribal leaders
Before that: damn dirty apes...
This was about the wealthy/privileged few being at the top shitting down on a population of the ignorant many.
TECHNOLOGY may have may the lot of the many better, but that does not change the pattern.
And anywhere resources dry up, climate changes or war breaks or whatever such there is not enough to go around you will see very quickly how similar a 1st world country is to a 3rd world country. (eg. briefly during Katrina)