A study released today from Oxfam reports that the richest 1 percent in the world are on the verge of controlling more than half of the globe’s total wealth. Already the richest 80 people in the world together own $1.9 trillion, which is just about as much as is owned by the 3.5 billion people in the bottom half of the world put together. This isn’t because of the free market. Oxfam notes that the biggest gainers at the top have been investors in finance, insurance, and health, whose interests have been enhanced by multimillion-dollar lobbying campaigns for laws that benefit them. Whatever you might think about the fairness or unfairness of this, it bodes ill for the global economy and for global stability. How do you think this will end?
Posted on: Mon, 19 Jan 2015 19:48:26 +0000
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