SoylentNews is people
SoylentNews
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.
This discussion has been archived.
No new comments can be posted.
Only 1% of World's Population Grabbed 82% of all 2017 Wealth
|
Log In/Create an Account
| Top
| 261 comments
| Search Discussion
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
There is nothing wrong with Southern California that a rise in the
ocean level wouldn't cure.
-- Ross MacDonald
(Score: 0) by Anonymous Coward on Saturday January 27 2018, @04:53PM (1 child)
dude you are blind if you can't see governments are in place so they can bail out the mega banks and corporations that very few of that 1% own
(Score: 1) by khallow on Saturday January 27 2018, @05:48PM
Insurer of last resort is generally considered a legitimate function of government. So some level of "bail out" is expected when things go really bad on a large scale. What sets the bail outs of past decade (for example) apart is that the bailouts depended on political connections (Bank of America and the United Auto Workers doing preferentially much better than the buyout targets of BoA during 2007-2010 period or the bond holders of General Motors and Chrysler who should have been ahead of the UAW in the bankruptcy proceedings).