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Only 1% grabbed 82% of all 2017 wealth

Accepted submission by canopic jug at 2018-01-22 13:43:58

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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