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

[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/