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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   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.

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  • (Score: 0) by Anonymous Coward on Sunday January 28 2018, @01:37PM

    by Anonymous Coward on Sunday January 28 2018, @01:37PM (#629432)

    Everyone I've met who is or approaches the 1% works way too many 12 to 16 hour days, and a lot of weekends besides, and pays a horde of staff and employees.

    If they already pay a horde of staff and employees, then they probably enjoy working those 12-16 hours and weekends. Otherwise, they'd just hire a couple of other people to do that work as well.