Tuesday, January 23, 2018

Greed Versus Need

 Four out of every five dollars of wealth generated in 2017 ended up in the pockets of the richest one percent, while the poorest half of humanity got nothing, Oxfam found.

"It reveals how our economies are rewarding wealth rather than the hard work of millions of people," Winnie Byanyima, Oxfam's executive director, said. "The few at the top get richer and richer and the millions at the bottom are trapped in poverty wages."

"The economic model is not working at all," Oxfam report co-author, Iñigo Macías Aymar, explained. "The way this wealth is being distributed we are really worried, it's being concentrated in fewer hands."

The number of billionaires rose at a rate of one every two days between March 2016 and March 2017.

In the United States the three richest people own the same wealth as the poorest half of the population.

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