Displaying items by tag: global inequality

An Oxfam report, released to coincide with the International Economic Forum at Davos, reveals that the world’s 26 richest people own as much as half the planet’s population. Addressing such large disparities may require coordinated action at the global level - for example a wealth tax. The widening gap is hindering the fight against poverty. A 12% increase in the wealth of the very richest contrasts with a fall of 11% in the wealth of the poorest half of the world’s population. In the ten years since the financial crisis, the number of billionaires has nearly doubled. The report said that a wealth tax on the 1% wealthiest would raise enough to educate every child not in school and provide healthcare that would prevent three million deaths. Ten thousand people are dying for lack of healthcare every day. But despite the profound impact of these statistics, there is little sense of urgency to act on any of the issues.