Just eight men own half of the world's wealth
Capitalism and patriarchy. Ain't it great?
A recent report from oxfam shows that just eight men own half the wealth of the world. Six of them are from the USA, one from Mexico and one from Spain.
“Big business and the super-rich are fuelling the inequality crisis by dodging taxes, driving down wages and using their power to influence politics.
Oxfam’s report shows how our broken economies are funnelling wealth to a rich elite at the expense of the poorest in society, the majority of whom are women.
The report outlines how the super-rich use a network of tax havens to avoid paying their fair share of tax and an army of wealth managers to secure returns on their investments that would not be available to ordinary savers. Contrary to popular belief, many of the super-rich are not ‘self-made’. Oxfam analysis shows over half the world’s billionaires either inherited their wealth or accumulated it through industries which are prone to corruption and cronyism.”
But there are other ways. for example,
“The multi-billion Euro company Mondragon, is owned by its 74,000 strong workforce. All employees receive a decent wage because its pay structure ensures that the highest paid member of staff earns no more than 9 times the amount of the lowest paid.”
Read more at www.oxfam.org
I'm one of those 8 men and no, I've not giving you a loan!