It is time to reverse an unfolding injustice

©Oxfam

According to shocking new research by Oxfam, the world’s richest 1% will, on current trends, own more than half the world’s wealth by 2016.

Wealthy individuals have sustained their vast riches particularly through a few important economic sectors, including finance, pharmaceuticals and health care. Billionaires with activities in these sectors increased their collective net worth by 47% between 2013 and 2014. Companies from these sectors spend millions of dollars every year on lobbying to create a policy environment that enhances their interests. 

Other than the obvious unfairness and absence of moral integrity of this phenomenon, should ordinary people of the world–the other 99%–care? In a word, yes, because it is corroding what lies at the heart of functioning societies in which people’s rights are safeguarded and opportunities for all must be encouraged, rather than thwarted. 

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©OECD Yearbook 2015

See also:

2015 OECD Yearbook

2015 OECD Forum

 




Economic data

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Last update: 6 November 2019

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