A new report is showing that the wealth gap between the rich and poor is staggering out of control. According to a report released by the charity Oxfam, the hoarding has gotten even worse than most people think. The study says that the richest 85 people on earth (not 85,000 or 85%, just 85) control more wealth than nearly half the planet. Specifically, that’s 3.5 billion people, which is simply amazing.
This report is no surprise in a world where we believe that greed is a good thing and that another human being should be allowed to starve so that someone can pay slightly lower taxes. Is the world ever going to change? Probably not that much. We have such little willingness to hold each other accountable that this trend will probably continue.
In the African American community, the love of money can be just as great. Those who call on celebrities to give back to the black community are often attacked by people who are being exploited by the celebrities themselves. In order for any community to prosper, care for your fellow man is a necessary component. If the people at the top hoard everything for themselves, then your community and society are both doomed to fail.
Global inequality has increased to the extent that the £1 trillion combined wealth of the 85 richest people is equal to that of the poorest 3.5 billion – half of the world’s population – according to a new report from development charity Oxfam.
And the report, entitled Working For The Few, claims that growing inequality has been driven by a “power grab” by wealthy elites, who have co-opted the political process to rig the rules of the economic system in their favour.
Oxfam called on attendees at this week’s World Economic Forum, which brings together politicians and business leaders in the Swiss ski resort of Davos, to take a personal pledge to tackle the problem by refraining from dodging taxes or using their wealth to seek political favours.
Polling for the report found people in countries around the world – including two-thirds of those questioned in Britain – believe that the rich have too much influence over the direction their country is heading.
Oxfam chief executive Winnie Byanyima 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.