How can it be that rich people represent the famous 1% of the world owning 46% of global wealth?
February 19, 2018
They are people with more means and possibilities to play on different tables – finance, technology, internationality and inherited fortunes.
In the famous Global Wealth Pyramid, published by Credit Suisse in the Global Wealth Report 2017, after the wealthiest classes, we find the widest and weakest percentage: 70% of world’s population earns almost nothing and produces only 3% of global wealth. A huge crowd of people who have never been in and will never play the economic game.
Finally, there are middle classes – 29% of world population –, who in some ways have been protagonists of the globalization’s game. Nobody realised it until middle class raised its voice and stir the 70% of the poorest and weakest population up, which in western countries is inactive but votes and can vote against – we have seen the effects in last two years.
All the world is seeing the problem and has started a slow conversion following new fiscal and work politics which take more care to those social classes damaged by globalization, from citizen’s incomes to actions to help and support the poorest.
In the meanwhile, outsourcing decreases, because it’s not very profitable anymore, while in poor countries – from China to Romania – the cost of work is increasing, causing companies’ incomes to achieve zero. Moreover, the arrival of 4.0 technology will make us remain anchored to our lands. And this will not result in new working opportunities for workers.
In its report “Reward work, not wealth”, Oxfam denounces and analyses this global paradox and suggest some solutions to governments and companies.