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.
(Score: 2, Informative) by khallow on Saturday January 27 2018, @05:40PM (5 children)
No monopoly provider of beans means you're way off. And what kind of bean are you obligated to buy? Is it red, kidney, lima, black, white, green, chile, etc? That's just the beans I've eaten over the past couple of months. And each time I buy a can, my voice is heard.
As to the drug that keeps you alive, it's worth noting that a system doesn't have to work perfectly to work well. And these are invariably government-enforced monopolies either via the patent system or barrier to entry for competitors. In other words, they tend to stem from the least capitalist parts of society.
(Score: 2) by The Mighty Buzzard on Saturday January 27 2018, @06:11PM (1 child)
Well said.
My rights don't end where your fear begins.
(Score: 0) by Anonymous Coward on Sunday January 28 2018, @03:09AM
(Score: 3, Touché) by fustakrakich on Saturday January 27 2018, @10:56PM (2 children)
Trying buying a can of beans with just beans inside. And yes, if I am the only person in my neighborhood/town looking for kidney beans, I won't find any. Why would anyone bring any in just for me?
it's worth noting that a system doesn't have to work perfectly to work well.
Again, you're using statistics, like the communists. TMB is under the impression that the individual makes the rules. Yes, thy do, through collective action (heh, bargaining) of the market. Now, when 1% has all the chips, who do you think shapes the market?
government-enforced monopolies either via the patent system or barrier to entry for competitors.
Yes, capitalists need those barriers to makes those billions, along with a huge military to protect their exclusive property claims. So, how well will capitalism function without those protections?
The consumers have every right to use that same government to protect their interests. It's the only way for that other 99% to be heard.
La politica e i criminali sono la stessa cosa..
(Score: 1) by khallow on Sunday January 28 2018, @04:00AM (1 child)
I count six successful cases in my post alone.
They don't. They don't have my labor for starters.
Quite well, of course.
Or they can just not buy products they don't like.
(Score: 1) by fustakrakich on Sunday January 28 2018, @05:57AM
Or they can just not buy products they don't like.
You got it backwards. It's about being able to acquire the product a person needs at a reasonable price when there is insufficient market demand. Capitalism does not serve the individual, especially one with little capital. It is driven by a collective called the "market". There is no other word for it. Such as it is, more consumer activism is needed to create a balance or power. The best an individual can hope for is that everybody else goes along. And if they use it, the power of their vote can easily make up for their lack of capital.
La politica e i criminali sono la stessa cosa..