Thomas Paine

Thomas Paine
"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands by it now, deserves the love and thanks of man and woman."

Monday, 18 January 2016

Billionaires who own the same wealth as half the world

From Oxfam:

"Pre-Davos report shows how 1% now own more than rest of us combined

Runaway inequality has created a world where 62 people own as much as the poorest half of the world's population, according to an Oxfam report published today ahead of the annual gathering of the world's financial and political elites in Davos. This number has fallen dramatically from 388 as recently as 2010 and 80 last year.

An Economy for the 1%, shows that the wealth of the poorest half of the world's population - that's 3.6 billion people - has fallen by a trillion dollars since 2010. This 38 per cent drop has occurred despite the global population increasing by around 400 million people during that period. Meanwhile the wealth of the richest 62 has increased by more than half a trillion dollars to $1.76tr. Just nine of the '62' are women.

Although world leaders have increasingly talked about the need to tackle inequality, the gap between the richest and the rest has widened dramatically in the past 12 months. Oxfam's prediction - made ahead of last year's Davos - that the 1% would soon own more than the rest of us by 2016, actually came true in 2015, a year early."

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