(18 January 2016) – The Oxfam report, ‘An Economy for the 1%’, shows that the wealth of the poorest half of the world’s population has fallen by a trillion dollars since 2010, a drop of 41 percent.
This has occurred despite the global population increasing by around 400 million people during that period. Meanwhile, the wealth of the richest 62 has increased by more than half a trillion dollars to $1.76tr.
The report also shows how women are disproportionately affected by inequality – of the current ‘62’, 53 are men and just nine are women.
Oxfam’s prediction, made ahead of last year’s Davos, that the 1% would soon own more than the rest of us, actually came true in 2015 – a year earlier than expected.