Oxfam: 62 people own the same as half the world

EPA/FOTIS PLEGAS G.

Oxfam stressed that governments should also take action to ensure that work pays for those at the bottom as well as for those at the top – including moving minimum wage rates towards a living wage and tackling the pay gap between men and women. (pic: Unemployed Greek citizens waiting in line at a Manpower Employment Organization (OAED) in Athens, Greece 2013)

The current economic model underpinned by deregulation, privatization and financial secrecy has seen the wealth of the richest 62 people jump by 44 per cent in five years to $1.76 trillion


Despite promises, world leaders are failing to tackle inequality as the wealth of the richest 62 people jump by 44 per cent in five years to $1.76 trillion, owing the same as half of the world.

According to the report, An Economy for the 1%, the wealth of the poorest half of the world’s population has fallen by a trillion dollars since 2010, a drop of 41 percent. The drop has occurred in parallel with the increase of the global population by 400 million. Out of the current ‘62’, rulers of the...


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