Oxfam is an international confederation of charitable organizations focused on the alleviation of global poverty. Oxfam was founded in Britain in 1942 and according to it mission statement, “Oxfam believes that poverty and powerlessness are avoidable and can be eliminated by human action and political will. The right to a sustainable livelihood, and the right and capacity to participate in societies and make positive changes to people’s lives are basic human needs and rights which can be met. Oxfam believes that peace and substantial arms reduction are essential conditions for development and that inequalities can be significantly reduced both between rich and poor nations and within nations.” According to Oxfam, more than $8 of every $10 of wealth created last year went to the richest 1%, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth. Who are the richest 1%? Well, they are the people who now own more than half of all the world’s household wealth. What does that mean? The combined wealth of all the people in the world is approximately $280 trillion. One trillion is a million, millions or put another way, one trillion seconds is 31,710 years. The world population is 7.6 billion. That makes 76 million part of the 1%. According to a leading global financial services company headquartered in Zurich, the world saw a 6% rise in the level of wealth created last year. 6% equals $1.44 trillion, so approximately $1.15 trillion went to the wealthiest 1%. The other $30 billion was divided among the rest of us… seven billion five hundred twenty-four million people and 3.7 billion of that got nothing. The news is spreading like wildfire and bolsters demands for economic equality. This just a sampling of whats in the report. To view the complete report, please click here.
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