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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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There is nothing wrong with Southern California that a rise in the
ocean level wouldn't cure.
-- Ross MacDonald
(Score: 2, Insightful) by Anonymous Coward on Sunday January 28 2018, @03:05AM (1 child)
Actually, it's consumers that are the job creators.
That empty space on the shelf after you've picked up something and taken it to the checkout counter represents a need for a worker to make another widget to fill that space.
When the Capitalist exploiters won't pay a living wage to their employees, The Workers don't have money to buy that widget, there's no need for another widget to be produced, and the consumption feedback loop breaks down.
That's called an economic downturn.
Keep it up and you have a depression.
Oh, and Henry Ford had this stuff figured out over a century ago.
The latest batch of "geniuses" are oblivious WRT the wisdom of George Santayana and they refuse to learn from the past.
-- OriginalOwner_ [soylentnews.org]
(Score: 0) by Anonymous Coward on Sunday January 28 2018, @10:11PM
That's silly. Do you think people were crying out for light bulbs, auto-mobiles or washing machines before these things were commercialized? You may as well say it's the advertiser that is the job creator for convincing the consumer to purchase items they do not need.