SoylentNews is people
SoylentNews
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.
This discussion has been archived.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
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
The mosquito is the state bird of New Jersey.
-- Andy Warhol
(Score: 3, Informative) by sjames on Saturday January 27 2018, @06:22PM (4 children)
Well, when Carly left HP, they partied in the isles of the cube farm. They never missed her. Still don't. She still got a golden parachute and a job before the seat of her chair was even cold.
Trump had the "vision" to open the only casino in Atlantic city that couldn't turn a profit during the boom. Let's talk about the CEO of Sears... or Tandy... Both got paid more in a year than a sales person will make in a lifetime.
Then there's the bankers who had the vision to line their pockets and crash the world economy. Or the ones who had th "vision" to launder drug money.
Plenty of people have "vision" most lack only opportunity.
At least the artist who had the "vision" to poop in a can and sell it actually tangibly contributes to the product.
(Score: 2, Troll) by The Mighty Buzzard on Saturday January 27 2018, @06:32PM (3 children)
You think I'm going to support failures being paid as if they weren't? Not a chance. That's the business of the ones doing the hiring though. Me, I'd peg a CEO's salary to say the company's median salary x4 and make the rest of their compensation contingent on decade-long growth in net profits. That's me though. I've no business telling someone how to run their company, though I have no problem opining upon mismanagement.
Not remotely true. Ideas are not even close to all created equal and they lack the everlovin fuck out of the will to see their vision made reality.
My rights don't end where your fear begins.
(Score: 2) by sjames on Saturday January 27 2018, @07:43PM
Problem is, it's a big circle jerk. A sits on B's board, B sits on A's board. They grant each other stupidly large amounts of money. They talk about "vision".
It takes money to make a vision reality (for better or worse). If you don't have it, you won't likely get it. If you have enough of it, you can spout %99 crap ind that 1% will make sure you continue to have money. Or you can commit serial fraud and get excused for it because you have money.
(Score: 0) by Anonymous Coward on Saturday January 27 2018, @11:38PM
If The Workers were the ones deciding how the company's money should be used, I'm quite certain that that wouldn't happen.
OTOH, as sjames notes, Capitalist boards of directors are circle-jerks of other CEOs.
Germany gets this closer to right WRT their corporations over a certain size:
Half of the board is selected by The Workers.
If USA is going to remain Capitalist, it could do a lot worse[1] than taking cues from Germany.
Even smarter is Italy's Marcora Law. [google.com]
That empowers workers who have been idled by boom-and-bust Capitalists to form worker-owned cooperatives.
At last count, the region of Emilia-Romagna in northern Italy had 8300 of those co-ops, accounting for about a third of the economy there.
[1] With stock buy-backs and an ever-increasing gulf between exec compensation and worker compensation, with no/little actual investment in production capability, it's hard to imagine how USAian corporations could be doing worse.
-- OriginalOwner_ [soylentnews.org]
(Score: 2) by Runaway1956 on Sunday January 28 2018, @09:29PM
I've read that historically, top management and/or owners made median wages x 40. That may seem excessive to some of us, but at least salaries were tied to wages. Today, there is no tie.
Abortion is the number one killed of children in the United States.