January 23, 2014

Jonathan Williams

85 people are now as wealthy as half of the world

Source: Oxfam

A recent report by Oxfam has shed new light on the growing crisis of economic inequality. According to the report, one percent of the human population now controls almost half of the world’s wealth. The 85 wealthiest individuals own as much as half of the world’s population.

The report warns of the dangers of inequality to economic democracy:

This massive concentration of economic resources in the hands of fewer people presents a real threat to inclusive political and economic systems, and compounds other inequalities – such as those between women and men. Left unchecked, political institutions are undermined and governments overwhelmingly serve the interests of economic elites – to the detriment of ordinary people.

President Obama has described inequality as “the defining challenge of our age,” though the administration’s efforts to address the challenge remain to be seen. Meanwhile, for the first time ever over half of the current members of Congress are millionaires.

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1 Comment on “85 people are now as wealthy as half of the world”

  1. Paris Humble-Chavez

    find that interesting; they sold their souls for the lost of freedom of all and what really America stands for. They sold us out! WE better vote for some real honest people. Or revamp the system. This one isn’t working any more. Money, power of evil, has only taken joy out of their lives, and they don’t even know it. How sad. Those that do fight back smartly. Michael Jackson, Brice Taylor, Candy Jones, etc.

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