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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: 1) by khallow on Monday January 29 2018, @02:20AM

    by khallow (3766) Subscriber Badge on Monday January 29 2018, @02:20AM (#629671) Journal

    You may think that you have an above average fund manager.

    First time I invested in a fund, I found that out. They had a great year and then several subpar ones right after I joined. I've since learned that even for relatively competent funds a great predictor for a bad year is having an extremely high year or two before due both to investments tending to rise in bursts and the "me too!" effect from new people piling on the train.