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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: 2) by tizan on Saturday January 27 2018, @11:46PM (1 child)

  by tizan (3245) on Saturday January 27 2018, @11:46PM (#629217)

  This is what is bothersome...most countries build large militaries to protect what ?
  For many people who are poor it won't make a difference in their lifetime if Putin or Trump is ruling. ..so why not invest in better society than the military to protect the existing one, so be it if Putin takes over.

  Parent

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• Re:Oh Wise Sages... (Score: 1) by khallow on Sunday January 28 2018, @04:17AM

  by khallow (3766) on Sunday January 28 2018, @04:17AM (#629324) Journal

  Well, there's always the problem of your wonderful society being taken over by a terrible society because you didn't bother to protect it.

  Parent