Updated 2 years ago

Top 1% Richer Than Rest of the World Combined


To mark the start of the World Economic Forum in the Swiss municipality of Davos on Wednesday, Oxfam said that wealth accumulated by this small portion of the world_s population has increased from 44 percent in 2009 to 48 percent in 2014.

According to the international agency, current trends indicate that the wealth of this one percent will further increase in 2016.

Executive director Winnie Byanyima noted that increase in amassing wealth following the deep recession of 2008-2009 is a dangerous tendency and should be reversed.

_We want to bring a message from the people in the poorest countries in the world to the forum of the most powerful business and political leaders. The message is that rising inequality is dangerous,_ Byanyima told The Guardian.

_We see a concentration of wealth capturing power and leaving ordinary people voiceless and their interests unattended to,_ Byanyima added.

The executive director wondered if people really want to live in a world where one percent of the population may have more wealth than everyone else.

Byanyima stressed that _the scale of global inequality is quite simply staggering and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast._

Oxfam explained that it will launch a campaign for the approval of urgent measures to curb the _rising inequality,_ starting with tackling the problem of tax evasion by certain companies

At the same time, it will press for an increase in investment in public services, such as education and health.

Byanyima added that extreme inequality _is not just an accident or a natural rule of economics. It is the result of policies, and with different policies it can be reduced._

Latin American Herald Tribune