Winnipeg Free Press - PRINT EDITION

When 85 equals 3.5 billion

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A new Oxfam report on global poverty shows just 85 people hold as much wealth as the poorest 3.5 billion. That's half the world's population.

In other words, the top 0.00000001 per cent are worth as much as the bottom 50 per cent combined. On a country-by-country basis, the filthy rich have only been getting richer. Between 1980 and 2012, the wealthiest one per cent increased their share of the spoils in 24 of the 26 countries Oxfam surveyed. This includes the United States, where the wealthiest one per cent have captured 95 per cent of all economic growth since the financial crisis of 2009, while the bottom 90 per cent have gotten poorer.

 

-- Washington Post-Bloomberg

Republished from the Winnipeg Free Press print edition January 25, 2014 D5

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