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The gap between rich and poor is reaching new extremes. Credit Suisse recently revealed that the richest 1% have now accumulated more wealth than the rest of the world put together.1 This occurred a year earlier than Oxfam’s much-publicized prediction ahead of last year’s World Economic Forum.
Meanwhile, the wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years. This is just the latest evidence that today we live in a world with levels of inequality we may not have seen for over a century.
‘An Economy for the 1%’2 looks at how this has happened, and why, as well as setting out shocking new evidence of an inequality crisis that is out of control.
Oxfam has calculated that:
• In 2015, just 62 individuals had the same wealth as 3.6 billion people – the bottom half of humanity. This figure is down from 388 individuals as recently as 2010.
• The wealth of the richest 62 people has risen by 44% in […]
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