This is REAL life: World’s richest 1% Get 82% of the Wealth, Oxfam Says (Infoghraphic)

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Economics isn’t working, rich men get richer, according to Oxfam report, an international organization focused on the alleviation of global poverty.

Keep on reading to know more.

Inequality Gap

The gap between the rich and the poor became an abyss.

Oxfam published on Monday, Jan 22, the new report that revealed shocking figures and statements.

It found that 3.7 billion people who make up the poorest half of the world saw no increase in their wealth in 2017, while 82% of the wealth generated last year went to the richest 1% of the global population.

Oxfam-richest-vs-poor-gap-infographic

“(It) reveals how our economies are rewarding wealth rather than the hard work of millions of people,” Winnie Byanyima, Oxfam’s executive director, told Reuters Television.

There are now 2,043 dollar billionaires worldwide. Nine out of 10 of them are men.

In 12 months, the wealth of this elite group of 2,043 has increased by $762 billion — enough to end extreme poverty seven times over.

For more comparison, The US government budget in 2016 was 5,731 billion.

Oxfam-richest-infographic

 

“The few at the top get richer and richer and the millions at the bottom are trapped in poverty wages.”

The economic model is not working at all

Oxfam said that women workers were worst hit by global inequality as they consistently earn less than men and usually have lower paid and more insecure forms of work.

“The economic model is not working at all,” Oxfam report co-author, Iñigo Macías Aymar, told the Thomson Reuters Foundation. “The way this wealth is being distributed we are really worried, it’s being concentrated in fewer hands.”

Bill Gates, Jeff Bezos and Warren Buffett, the three richest people in the U.S., own the same wealth ($248.5 billion) as the bottom half of the U.S. population.

“All over the world, our economy of the 1 percent is built on the backs of low paid workers, often women, who are paid poverty wages and denied basic rights,” the report reads.

richest-people-amazon-bezos-2018-infographic

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Inequality Crisis: 'World's richest 1% get 82% of the wealth', Oxfam Says
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Inequality Crisis: 'World's richest 1% get 82% of the wealth', Oxfam Says
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Economics isn’t working, rich men get richer, according to  Oxfam report, an international organization focused on the alleviation of global poverty.
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