Study finds richest 1 percent will control half the world's wealth by 2016
Anti-poverty organization Oxfam has projected that the richest 1 percent of citizens will control more than half of the world's wealth by 2016.
The projections come as part of a new study on global inequality, designed to highlight the widening gulf between the world's poorest citiziens and richest citizens. According to Oxfam, the 80 wealthiest people in the world control $1.9 trillion — almost the same amount controlled by the 3.5 billion people on the bottom of the world income scale.
The study also provides several suggestions for decreasing income inequality, including universal free public services by 2020.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Scott Meslow is the entertainment editor for TheWeek.com. He has written about film and television at publications including The Atlantic, POLITICO Magazine, and Vulture.
-
'Elevating Earth Day into a national holiday is not radical — it's practical'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
UAW scores historic win in South at VW plant
Speed Read Volkswagen workers in Tennessee have voted to join the United Auto Workers union
By Peter Weber, The Week US Published
-
Today's political cartoons - April 22, 2024
Cartoons Monday's cartoons - dystopian laughs, WNBA salaries, and more
By The Week US Published
-
Puffed rice and yoga: inside the collapsed tunnel where Indian workers await rescue
Speed Read Workers trapped in collapsed tunnel are suffering from dysentery and anxiety over their rescue
By Sorcha Bradley, The Week UK Published
-
More than 2,000 dead following massive earthquake in Morocco
Speed Read
By Justin Klawans Published
-
Mexico's next president will almost certainly be its 1st female president
Speed Read
By Peter Weber Published
-
North Korea's Kim to visit Putin in eastern Russia to discuss arms sales for Ukraine war, U.S. says
Speed Read
By Peter Weber Published
-
Gabon's military leader sworn in following coup in latest African uprising
Speed Read
By Justin Klawans Published
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber Published
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans Published
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber Published