Why is the Rapid Rise in Rate of Concentration of Wealth Shown by the Oxfam Report happening?

[Baobab]

Last edited Fri May 27, 2016, 05:30 PM - Edit history (1)

Recently a report was issued by OXFAM, the global food justice NGO showing the incredibly steep rise in the rate of concentration of wealth since 2010..

Look at the following numbers.


2010 - 388

2011 - 177

2012 - 159

2013 - 92

2014 - 80

2015 - 62

In the report, Oxfam concluded that:

• In 2015, just 62 individuals had the same wealth as 3.6 billion people – the bottom half of humanity. This figure is down from 388 individuals as recently as 2010.

• The wealth of the richest 62 people has risen by 45% in the five years since 2010 – that's an increase of more
than half a trillion dollars ($542 bn), to $1.76 trillion.

• Meanwhile, the wealth of the bottom half fell by just over a trillion dollars in the same period – a drop of 38%.

• Since the turn of the century, the poorest half of the world’s population has received just 1% of the total increase in global wealth, while half of that increase has gone to the top 1%.

• The average annual income of the poorest 10% of people in the world has risen by less than $3 each year in almost a quarter of a century. Their daily income has risen by less than a single cent every year.

Executive summary:

https://www.oxfam.org/sites/www.oxfam.org/files/file_attachments/bp210-economy-one-percent-tax-havens-180116-summ-en_0.pdf

Full Report:

https://www.oxfam.org/sites/www.oxfam.org/files/file_attachments/bp210-economy-one-percent-tax-havens-180116-en_0.pdf
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Where Is All the World’s Money Going? “Far from trickling down, income and wealth are instead being sucked upwards at an alarming rate,” a new Oxfam study finds.


http://www.theatlantic.com/business/archive/2016/01/widening-wealth-gap/424695/

[TampaAnimusVortex]

1. It's simple

Because the guys who print the money are in bed with the people who they "loan" it to (bankers) who pay politicians to keep the system going. This keeps the Wall St. game going non-stop cranking new money into the same pockets.

See
http://www.democraticunderground.com/10027861155

[Odin2005]

2. Because it is inhierent to Capitalism. Marx was talking about this 150 years ago.

You can't "fix" Capitalism, the Capitalist Class always manages to start hoarding the wealth again.