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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 sjames on Sunday January 28 2018, @06:33AM
Most of the people who have "the vision to create" simply got lucky enough that their first "vision" panned out. They, like most people, also have a lot of crap "visions". Had one of those happened to come first they'd have been too flat broke to try again.
Most people don't get "a small loan of a million dollars" from the Bank of Dad. Most also don't hit the lottery with the first ticket, or ever. The constant parade of winners on TV does not negate the reality that for every one of those there's a million people who will never win more than they spend.
Scratch the ever popular rags to riches stories of the fabulously wealthy and you'll find the "rags" were made by Gucci.
Naturally, the big winners attribute it all to some sort of superior ability in spite of objective evidence. It's just that a big win is enough to coast through the rest of life.