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posted by
martyb
on Saturday January 27 2018, @12:43PM
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
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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Only 1% of World's Population Grabbed 82% of all 2017 Wealth
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(Score: 3, Insightful) by Runaway1956 on Saturday January 27 2018, @12:50PM (1 child)
Globalization is all about redistributing wealth to the poorest people in the world! I read it in a newspaper, as well as the intartubes, it's gotta be true! It isn't possible that it's all a conspiracy to make us all poor!
Conspiracy theories are funny, in that no one ever seems to prove anything with them. All the same, it has been clear for decades that a very small number of people either own or control all of the largest corporations. What is hard to believe about that small number of people manipulating all the rest of us?
Abortion is the number one killed of children in the United States.
(Score: 4, Interesting) by Anonymous Coward on Saturday January 27 2018, @04:13PM
Suppose that outsourcing and migration cuts American wages from $200/day to $100/day while increasing 3rd-world wages from $2/day to $5/day. Wealthy investors get lots of cheap labor, so they each go from having $1 billion to having $100 billion.
The global poor win by a factor of 2.5, the rich win by a factor of 100, and the typical American loses by a factor of 2.