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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:To recap Re:To recap (Score: 2, Touché) by khallow on Sunday January 28 2018, @03:01PM (1 child)

  by khallow (3766) on Sunday January 28 2018, @03:01PM (#629461) Journal

  It seems you need the mind-set from already having wealth

  Hmmm, "mind-set" [oxforddictionaries.com]:

  The established set of attitudes held by someone.

  So being wealthy is a matter of attitude. And luck. So how much of the world has the necessary attitude? I mean there's not much point to complaining about wealth inequality if most poor are that way because of attitude. They can always get a better, wealthier attitude. That's a pretty easy fix.

  Bottom line is that actually employing people and building wealth via a business in a useful way is hard work

  Telling other people what to do is not hard work.

  So employing people and building wealth via a business in a useful way is merely a matter of telling people what to do?
  
  Go make me a supersonic passenger jet that's more economical than the 787 in fuel usage per passenger. Yes, you're right that was pretty easy. So where's my jet parked?
  
  I'm getting this vague idea that you might not have a clue.

  Parent

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• Re:To recap (Score: 0) by Anonymous Coward on Thursday February 01 2018, @03:03AM

  by Anonymous Coward on Thursday February 01 2018, @03:03AM (#631315)

  So employing people and building wealth via a business in a useful way is merely a matter of telling people what to do?

  Yes, you have the money and hire a manager and tell him like you said. Then he tells the engineers to do some work and a lot of people to do most of the work. You have the money and you tell people what to do, it is not hard work. 80 hours of office job from your manager is not hard work either when compared with getting the iron to build your jet.

  Go make me a supersonic passenger jet that's more economical than the 787 in fuel usage per passenger. Yes, you're right that was pretty easy. So where's my jet parked?

  I'll give you a clue: Telling a stranger in the Internet to make something and point out that magic didn't happen is not an actual point.

  Parent