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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   
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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Original Submission

• Re:Oh Wise Sages... Re:Oh Wise Sages... (Score: 0) by Anonymous Coward on Saturday January 27 2018, @07:41PM (1 child)

  by Anonymous Coward on Saturday January 27 2018, @07:41PM (#629066)

  Oh the irony.. What happened to all your talk about wealth being generated? If more people are employed then there should be more overall wealth. Yet again you are a hypocrite and moron. I should start up a SN bingo game, the responses here are predictable enough to make it work.

  Parent

• Re:Oh Wise Sages... (Score: 2) by Gaaark on Saturday January 27 2018, @08:22PM

  by Gaaark (41) on Saturday January 27 2018, @08:22PM (#629117) Journal

  He's saying that if you have 100 jobs for 100 people, then suddenly there are 200 people for those 100 jobs, the wage offering will go down due to there being more people applying for the job,
  NOT,
  more people are working so the family income should go up.

  More people looking for the same jobs makes wage go down. (50 people looking for 100 jobs means wage will go up: supply and demand). Logical.

  --
  --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---

  Parent