A startling headline that seems to invite disbelief as well as oversimplification. “The $240 billion net income in 2012 of the richest 100 billionaires would be enough to make extreme poverty history four times over, according a report ‘The cost of inequality: how wealth and income extremes hurt us all.’ It is calling on world leaders to curb today’s income extremes and commit to reducing inequality to at least 1990 levels.”
An international confederation of 17 organizations working in 90 countries has been studying world poverty for decades continues “The richest one per cent has increased its income by 60 per cent in the last 20 years with the financial crisis accelerating rather than slowing the process.
The group warned that extreme wealth and income is not only unethical it is also economically inefficient, politically corrosive, socially divisive and environmentally destructive.
What do you think?
Wikipedia writes…Oxfam is an international confederation of 17 organisations working in approximately 90 countries worldwide to find solutions to poverty and related injustice around the world. In all Oxfam’s actions, the ultimate goal is to enable people to exercise their rights and manage their own lives. Oxfam works directly with communities and seeks to influence the powerful, to ensure that poor people can improve their lives and livelihoods and have a say in decisions that affect them. Each organization (Affiliate) works together internationally to achieve a greater impact through collective efforts.