Standing up for young americans

Global Inequality is Worse Than You Think

This year, at the World Economic Forum, Oxfam International released a report called “Working With the Few,” which showed the extent of global income inequality. Highlights from Forbes include:

Almost half of the world’s wealth is now owned by just one percent of the population.

The wealth of the one percent richest people in the world amounts to $110 trillion. That’s 65 times the total wealth of the bottom half of the world’s population.

The bottom half of the world’s population owns the same as the richest 85 people in the world.

Seven out of ten people live in countries where economic inequality has increased in the last 30 years.

The richest one percent increased their share of income in 24 out of 26 countries for which we have data between 1980 and 2012.

In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.

Oxfam International went on to detail the effects wealth inequality can have, such as diminished growth, loss of economic potential, and an increase in the influence of money in politics.