Oxfam_ eight men are as rich as half the world

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The gap between the super-rich and the poorest half of the world’s population is starker than previously thought, with just eight men, including Bill Gates and Michael Bloomberg, owning as much wealth as 3.6 billion people, according to an analysis by Oxfam released Monday.

Presenting its findings on the dawn of the annual gathering of the global political and business elites in the Swiss ski resort of Davos, anti-poverty organisation Oxfam says the gap between the very rich and poor is far greater than just a year ago. Usd zar rate It’s urging leaders to do more than pay lip-service to the problem.

If not, it warns, public anger against this kind of inequality will continue to grow and lead to more seismic political changes akin to last year’s election of Donald Trump as US president and Britain’s vote to leave the European Union.

“It is obscene for so much wealth to be held in the hands of so few when one in 10 people survive on less than $2 a day,” said Winnie Byanyima, executive director of Oxfam International, who will be attending the meeting in Davos.


Binary to decimal calculator “Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy.”

The same report a year earlier said that the richest 62 people on the planet owned as much wealth as the bottom half of the population. Usd brl rate However, Oxfam has revised that figure down to eight following new information gathered by Swiss bank Credit Suisse.

The others, in order of ranking, are Amancio Ortega, the Spanish founder of fashion house Inditex, financier Warren Buffett, Mexican business magnate Carlos Slim Helu, Amazon boss Jeff Bezos, Facebook creator Mark Zuckerberg, Oracle’s Larry Ellison and Bloomberg, the former mayor of New York.

They include higher taxes on wealth and income to ensure a more level playing field and to fund investments in public services and jobs, greater cooperation among governments on ensuring workers are paid decently and the rich do not dodge their taxes. Code binary And business leaders should commit to paying their fair share of taxes and a living wage to employees.

The ability of the rich to avoid paying their fair share of taxes was vividly exposed last year in the so-called “Panama Papers”, a leaked trove of data that revealed details on offshore accounts that helped individuals shelter their wealth.

It’s because of this kind of inequality that trust in institutions has fallen sharply since the global financial crisis of 2008, according to Edelman, one of the world’s biggest marketing firms.

In its own pre-Davos survey of more than 33,000 people across 28 markets, Edelman found the largest-ever drop in trust across government, business, media and even non-governmental organisations. Euro to usd exchange rate CEO credibility is at an all-time low and government leaders are the least trusted group, according to the survey.

The firm’s 2017 Trust Barometer found that 53 percent of respondents believe the current system has failed them in that it is unfair and offers few hopes for the future, with only 15 percent believing it is working. Decimal word problems 6th grade That belief was evident for both the general population and those with college education.

“The implications of the global trust crisis are deep and wide-ranging,” said Richard Edelman, the firm’s president and CEO. Binary to ascii “It began with the Great Recession of 2008, but like the second and third waves of a tsunami, globalisation and technological change have further weakened people’s trust in global institutions.

Edelman highlighted how “the emergence of a media echo chamber” that reinforces personal beliefs while shutting out opposing views has magnified this “cycle of distrust.” According to the survey, search engines are trusted more as an information tool than traditional news editors, 59 percent to 41 percent.

“People now view media as part of the elite,” said Edelman. Ntd to usd “The result is a proclivity for self-referential media and reliance on peers. Usd to jpy exchange rate The lack of trust in media has also given rise to the fake news phenomenon and politicians speaking directly to the masses.”

Edelman said business may be best-placed to help improve trust. Usd to cad exchange rate history Companies need to be transparent and honest with their employees about the changes taking place in the workplace, improve skills and pay fairly, he said.


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