Published on Oxfam America’s Politics of Poverty blog
Even without the bottom decile, they own half of global wealth.
Ricardo Fuentes-Nieva and I shocked the world last year with our calculation that therichest 85 people held the same amount of wealth as the poorest half of humanity. We also determined, using Credit Suisse’s data, that the richest one percent owned more than 45 percent of all global wealth.
Published on Oxfam America’s Politics of Poverty blog
It’s time they pay their taxes, stop using wealth to influence politics.
Whew! What a week for Oxfam!
On Monday, we released a new report on global inequality, “Working For the Few: Political Capture and Economic Inequality,” targeted at the participants attending the World Economic Forum in Davos this week. These folks represent the global economic elite – the real movers and shakers of the world economy who heavily influence economic policymaking.
The media response has been overwhelming. Here’s a sample: Continue reading