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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 Thursday February 01 2018, @02:43AM

    by Anonymous Coward on Thursday February 01 2018, @02:43AM (#631305)

    Those who lack the vision to create are always envious of those who don't. You can't have a rational discussion with them...

    He was talking about inheritance and interest/dividends. You completely changed the subject to the few one percenters who do some work and talked about their "difficulties" (like valuing an employee), to his reply you challenged him to something that might be impossible from his position and personally attacked him making absolute generalizations. That is not a rational discussion coming from you, it is not even rational personal attacks. It is just plain dumb.

    Give me one million in seed capital and I'm sure I can multiply it. Alternatively, feed me and finance my living for years in good institutions with well connected people (those who know how to outsource to China).

    Go tell the Chinese who works in manufacture (and actually produced the wealth) to start a business... Most of the privileged are blind of their own privileges (like being in a country where seed capital comes easy from daddy or friends) and that seems to be your case. You claim it's not possible to have a rational discussion with the previous AC, but you seem completely ignorant of the reality of the bottom 70% (tip: they are not in America).