In theory, the global economic system is designed to bring prosperity to all the world’s inhabitants, but, sadly, it’s only the richest 1% of the lot that benefit.
The latest Oxfam report paints this gloomy picture, questioning the integrity of all claims world leaders make. It raises an intriguing point: “Although world leaders have increasingly talked about the need to tackle inequality, the gap between the richest and the rest has widened dramatically in the past 12 months”.
Oxfam’s assessment revealed that in 2015 just 62 individuals were worth what 3.6 billion people had combined. Besides, from 2010 up to 2015, their wealth had increased 44% to $1.76trn.
While the rich have more than enough to money to burn, the situation of the poor’s plight is only exacerbating. Since 2000, they have only received 1% of global increase in global wealth.
