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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: 2) by The Mighty Buzzard on Saturday January 27 2018, @05:36PM (2 children)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Saturday January 27 2018, @05:36PM (#628987) Homepage Journal

    And I applaud you for all that. I would however call you a self-made man. You owe your parents nothing financially or morally for your raising. The choice to bring you into this world was theirs thus so was the responsibility to raise you. There are usually going to be plenty of mutual debts of love and loyalty for them and you exchanging plenty of both but those don't really factor in here.

    Any contributions you care to make to create a better world for your children or even simply posterity I applaud you for as well. Demanding others do so as well under threat of imprisonment or death I cannot back you on though. I know of no way to make that a morally sound position.

    --
    My rights don't end where your fear begins.
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  • (Score: 0) by Anonymous Coward on Saturday January 27 2018, @07:54PM (1 child)

    by Anonymous Coward on Saturday January 27 2018, @07:54PM (#629082)

    I know of no way to make that a morally sound position.

    By now we all get that, Uzzard. But you do understand, do you not, that what you do not know is not exactly relevant to anything at all. Community College, bro! The only cure for ignorance is learning. Money is not an acceptable substitute.

    • (Score: 0) by Anonymous Coward on Saturday January 27 2018, @08:37PM

      by Anonymous Coward on Saturday January 27 2018, @08:37PM (#629127)

      what you do not know is not exactly relevant to anything at all.

      The only cure for ignorance is learning.

      You obviously have quite the journey ahead of you then.