Wealth gap widens: World Economic Forum moves to act
January 19, 2015
As the world’s richest people and the elite begin to gather in Davos for the World Economic Forum UK based charity Oxfam has released a report showing the world’s rich got richer. The report states that the world’s richest 1% will soon amass more wealth than that owned by the rest of the planet and that the overall gap between those who have and those who do not is widening.
The report is suggesting that by 2016 the gap will be side that those who are at the top of the income pile will effectively control more than 50% of global wealth. Currently they dollar value estimate is that the richest 80 people in the world control $1.9 trillion or an increase of $600 billion over the previous estimate. The report, entitled “Wealth: Having it all and wanting more” used data from both Forbes Credit Suisse in an attempt to reinforce its point of the widening gap.
This year Oxfam’s Executive Director, Winnie Byanyima, is co-chair of the Davos World Economic Forum and said that "The scale of global inequality is quite simply staggering and despite the issue shooting up the global agenda, the gap between the richest and the rest is widening fast,"
It came as the forum did its best to stem the discussion by announcing that they would be realising a 14 point plan to tackle global inequality. The 14 measures released in the paper all targeted inclusive growth strategies with the commentary including:
“Since the onset of the financial crisis, the question of how to unlock new sources of productive employment and strengthen the contribution of economic growth to progress in broad living standards has become an increasingly important concern for political and business leaders in developed and developing countries alike. These challenges have been at the top of the World Economic Forum Global Risks Report survey in recent years”
“But while there is widespread international consensus on the need to develop new and improved growth and development models in this respect, little in the way of concrete policy guidance has emerged. There is a growing need for analytical frameworks and evidence-based solutions suited to this purpose.”
You can follow us on Twitter HERE. EntreHub is the world’s global network for entrepreneurs, start-ups and small business. If you would like to syndicate or share this article please feel free but make sure you attribute it back to www.entrehub.org
Don’t forget our elders can suffer in silence too: suicide prevention
Many people think that mental health and suicide are not topics that impact our elders but they could not be more wrong. The data tells us there continues to be an emerging trend when it comes to peop...
Wherever you look these days, not matter the developed country, whole population groups and peoples struggle with the daily grind of life. From children in state care to mental health, from affordable housing to the primary health system and from education to employmen...
For the last few years I have been fortunate to have been involved in the aged care sector and have seen both the lows and highs. Today we live in a world where most of us are living longer thank to more awareness around healthy living, the advancement of better medica...
You can’t go past a news paper, radio show or television news story these days without being flooded by all things Bitcoin or Crypto Currency. Some say it’s the new world of money while others suggest its all just a passing fad. Whatever your position or preference of...