Wednesday, October 8, 2014

Inequality fact of the day

From Guardian, on a recent Oxfam report,
The richest 85 people across the globe share a combined wealth of £1tn, as much as the poorest 3.5 billion of the world's population... The wealth of the 1% richest people in the world amounts to $110 tn (£60.88 tn), or 65 times as much as the poorest half of the world... Winnie Byanyima, the Oxfam executive director who will attend the Davos meetings, said: "It is staggering that in the 21st Century, half of the world's population – that's three and a half billion people – own no more than a tiny elite whose numbers could all fit comfortably on a double-decker bus."
As the report writes, such staggering inequality invariably translates into political capture.

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