The World’s 1 Percent Will Own More Than the Other 99 Percent Combined by 2016
Can we please stop calling it the "wealth gap"? The figures Oxfam recently reported on global inequality can only be described as a growing abyss between the world's über-rich and the rest of us.
The 1 percent already has half of the world's means under its thumb and, at this rate, is set to accumulate even more. Shutterstock
Can we please stop calling it the “wealth gap”? The figures Oxfam recently reported on global inequality can only be described as a growing abyss between the world’s über rich and the rest of us.
The Guardian:
The charity’s research, published on Monday, shows that the share of the world’s wealth owned by the best-off 1% has increased from 44% in 2009 to 48% in 2014, while the least well-off 80% currently own just 5.5%.
Oxfam added that on current trends the richest 1% would own more than 50% of the world’s wealth by 2016.
Winnie Byanyima, executive director of Oxfam International and one of the six co-chairs at this year’s WEF, said the increased concentration of wealth seen since the deep recession of 2008-09 was dangerous and needed to be reversed.
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—Posted by Natasha Hakimi Zapata
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