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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   
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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Original Submission

• Re:the usual garbage Re:the usual garbage (Score: 2) by Whoever on Sunday January 28 2018, @06:35AM (1 child)

  by Whoever (4524) on Sunday January 28 2018, @06:35AM (#629353) Journal

  Perhaps you should look at my comment [soylentnews.org] and Sulla's reply.

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• Re:the usual garbage (Score: 1) by khallow on Sunday January 28 2018, @11:47AM

  by khallow (3766) on Sunday January 28 2018, @11:47AM (#629404) Journal

  Well, let us also keep in mind that good companies are more likely to attract talent below normal rates just for the sake of getting in on a good thing, while failing companies are sinking ships that your would-be executive would normally flee from. Yes, illegal activity drives up the costs of hiring new executives who would be in on the crime. But so does any sort of business problem - particularly when those problems could result in mass layoffs and bankruptcy.

  Parent