Reward work, not wealth

22 January, 2018 at 13:37 | Posted in Economics | 2 Comments

Eighty-two​ percent of the wealth generated last year went to the richest one percent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam report released today …

170103-Inequality-graphics-862x456Billionaire wealth has risen by an annual average of 13 percent since 2010 – six times faster than the wages of ordinary workers, which have risen by a yearly average of just 2 percent. The number of billionaires rose at an unprecedented rate of one every two days between March 2016 and March 2017.

It takes just four days for a CEO from one of the top five global fashion brands to earn what a Bangladeshi garment worker will earn in her lifetime. In the US, it takes slightly over one working day for a CEO to earn what an ordinary worker makes in a year.

Oxfam

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  1. Its the same the whole world over
    Its the poor what gets the blame
    And the rich what gets the gravy
    Ain’t it all a blooming shame!

  2. Further Reading
    The Guardian- Half of world’s wealth now in hands of 1% of population –
    https://www.theguardian.com/money/2015/oct/13/half-world-wealth-in-hands-population-inequality-report

    U.S. Income Distribution: Just How Unequal?Salvatore Babones is a senior lecturer in sociology and social policy at the University of Sydney
    http://inequality.org/research/unequal-americas-income-distribution/

    The World Bank: Measuring Inequality
    http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTPOVERTY/EXTPA/0,,contentMDK:20238991~menuPK:492138~pagePK:148956~piPK:216618~theSitePK:430367,00.html

    Growing Unequal? Income Distribution and Poverty in OECD Countries.
    http://www.oecd.org/social/soc/growingunequalincomedistributionandpovertyinoecdcountries.htmResearch at UNU-WIDER

    The triple challenge facing societies today of structural transformation, inclusion and sustainability is the focus of UNU-WIDER’s work programme 2014-2018. These are seen as key challenges to human development that will shape policy and research needs over the foreseeable future.

    United Nations University World Institute for Development Economics Research
    https://www.wider.unu.edu/research/Database/en_GB/database

    Income Inequality Estimation of Rural Region of KP Province: A Gini Coefficient Approach
    Zaheer Ahmad Qureshi* and Khuram Nawaz Sadozai
    http://researcherslinks.com/current-issues/Income-Inequality-Estimation-of-Rural-Region-of-KP-Province-A-Gini-Coefficient-Approach/14/1/280/html#CucWCUDuL2HRvWJg.99


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