Paul L. Caron

Saturday, February 2, 2019

Oxfam: World's 26 Richest People Own As Much As The Poorest 50% (3.8 Billion People)


Oxfam, Public Good or Private Wealth?:

Our economy is broken, with hundreds of millions of people living in extreme poverty while huge rewards go to those at the very top.

The number of billionaires has doubled since the financial crisis and their fortunes grow by $2.5bn a day, yet the super-rich and corporations are paying lower rates of tax than they have in decades. The human costs – children without teachers, clinics without medicines – are huge. Piecemeal private services punish poor people and privilege elites. Women suffer the most, and are left to fill the gaps in public services with many hours of unpaid care.

We need to transform our economies to deliver universal health, education and other public services. To make this possible, the richest people and corporations should pay their fair share of tax. This will drive a dramatic reduction in the gap between rich and poor and between women and men.

Tax | Permalink


But the countries that have more private wealth also have less inequality. This is a very dated approach.

Posted by: Mike Livingston | Feb 2, 2019 3:31:31 AM

The more a society is a meritocracy, the more wealth inequity there will be. And the more technolgically advanced an economy becomes, the greater a percentage of the population will be shut out of decent wage-earning positions, because despite our best efforts (e.g., public schooling) there is a significant tail of the population's IQ curve that makes them unemployable, and that grows the more technologically sophisticated the working world becomes..

Posted by: ruralcounsel | Feb 4, 2019 4:15:32 AM