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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: 2, Insightful) by khallow on Sunday January 28 2018, @03:29PM
That's a fairly tenuous connection which ignores both peoples' ability to game that system (say by adopting better surnames or marrying into a surname), the differences in social mobility in past and present (social mobility two centuries ago is not social mobility today, the two countries you mentioned were significantly less socially mobile three generations ago, for example), and perhaps a bit of p-hacking too (this would not be the first time some researchers swore there was statistical significance at such low levels when there was not).