Reform Is Not Enough to Stem the Rising Tide of Inequality Worldwide

7 02 2016

By: William I. Robinson

We are nearing 2016, the year when the richest 1 percent of humanity will own more than the rest of the world, according to proje2016_0101r_ctions made by the nongovernmental organization Oxfam.

This is up from the 1 percent owning 44 percent of the world’s wealth in 2010 and 48 percent in 2014. If current trends continue, the 1 percent will own 54 percent by 2020.

The top 80 billionaires were worth $1.9 trillion in 2014, an amount equal to the bottom 50 percent. These 80 billionaires saw a 50 percent rise in their wealth in just four years, from 2010 to 2014, during which time the poorest 50 percent saw a drop in their wealth. In other words, there has been a huge transfer of wealth in a very short period of time from the poorest half of humanity to the richest 80 individuals on the planet.  READ THE ENTIRE PIECE HERE ON TRUTH-OUT


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