Stories
Slash Boxes
Comments

SoylentNews is people

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.

Original Submission

 
This discussion has been archived. No new comments can be posted.
Only 1% of World's Population Grabbed 82% of all 2017 Wealth | Log In/Create an Account | Top | 261 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 0) by Anonymous Coward on Saturday January 27 2018, @05:59PM

    by Anonymous Coward on Saturday January 27 2018, @05:59PM (#628999)

    Great. There are two schools of thought here, first that your parents funding your education is unfair, second that it is fair because opportunity is cross generational and every parent has the opportunity and responsibility to provide for their children. I believe the second to be true, my parents were not wealthy but provided for my education although I insisted on taking a bar job. We lived in a lower middle class area where I grew up exposed to vicious reverse snobbery, supporting myself became a matter of personal pride and self respect. On reflection it's only important that you make the most of available opportunities.

    I've known many supposedly "self-made" people who would never admit their finances are a result of inheritance and many supposed inheritance beneficiaries who are, in reality, self-made. Success in most fields requires the work be put in.