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Only 1% of World's Population Grabbed 82% of all 2017 Wealth

posted by martyb on Saturday January 27 2018, @12:43PM   Printer-friendly
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.

canopic jug writes:

The 1% grabbed 82% of all wealth created in 2017

More than $8 of every $10 of wealth created last year went to the richest 1%.

That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.

Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.

"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.

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  • (Score: 4, Interesting) by maxwell demon on Saturday January 27 2018, @03:52PM (3 children)

    by maxwell demon (1608) on Saturday January 27 2018, @03:52PM (#628904) Journal

    OK, so if someone points out that the communist countries didn't implement pure communism, then it's a "no true Scotsman" argument, while if someone points out that the capitalist countries didn't implement pure capitalism, that's merely "we strayed from the way."

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    The Tao of math: The numbers you can count are not the real numbers.
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  • (Score: 0) by Anonymous Coward on Saturday January 27 2018, @04:14PM (1 child)

    by Anonymous Coward on Saturday January 27 2018, @04:14PM (#628922)

    OK, so if someone points out that the communist countries didn't implement pure communism, then it's a "no true Scotsman" argument, while if someone points out that the capitalist countries didn't implement pure capitalism, that's merely "we strayed from the way."

    Western nations have had hybrid, liberal governance since the end of WW2.

    • (Score: 0) by Anonymous Coward on Sunday January 28 2018, @09:45AM

      by Anonymous Coward on Sunday January 28 2018, @09:45AM (#629380)

      So have the Eastern too. Yet both these facts are irrelevant here.

  • (Score: 3, Touché) by The Mighty Buzzard on Saturday January 27 2018, @04:54PM

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Saturday January 27 2018, @04:54PM (#628951) Homepage Journal

    Nope. I don't ask for perfection, only its earnest pursuit.

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