Oxfam’s latest shocking report reveals world’s inequality, as wealth is getting accumulated by a few (becoming more concentrated year by year).
I’m sure when you read about the rich in newspapers or see their lifestyle on television, a thought comes to the mind as to how some people can earn so much money.
Now here’s a report which is going to shock you.
Eight extremely wealthy men (six of them from America) have wealth as much as 3.6 billion people in the world (poorer half of the world’s population).
What is more shocking is that the wealth is becoming more concentrated year on year. In 2010, the wealth of the richest 388 people in the world was equivalent to that of the poorest fifty percent.
And as in previous years, the top 1% still have more wealth than the rest of the world put together.
I guess, probably this is the reason, there’s so much more chaos in the world today.
And one of the reasons mentioned is that the rich are successfully able to dodge taxes.
Oxfam is an international confederation of charitable organizations that works on the alleviation of global poverty. Oxfam wants the creation of an “economy that benefits everyone, not just the privileged few”.
Economist Gerard Lyons says Oxfam is right to target companies that are “increasingly focused on delivering ever-higher returns to wealthy owners and top executives.”
Oxfam released this information in its annual report, ahead of the World Economic Forum in Davos, Switzerland.