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Oxfam Says the World’s 100 Richest People Earned Enough to End Global Poverty Four Times Over

Prashant Kumar

The world’s 100 richest people earned enough money last year to end world extreme poverty four times over, according to a new report revealed by international rights group and charity Oxfam.

Oxfam says that the richest one per cent of the world’s population have increased their income by 60% in the last 20 years and that rapid accumulation of wealth by the world’s top one percent continues on an unprecedented scale at the expense of the needs of the world’s poorest.

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  • Adele PetersAdele Peters

    Really interesting. For some reason the link to the original report isn't going through now; I'd love to read it. Is Oxfam defining an "end to poverty" as simply redistributing money to the poorest? As some others have said, that won't solve the root issues at stake.

  • Jeff NelderJeff Nelder

    ...sounds like a great campaign message to the richest 1%...end poverty with only 25% of your wealth...so now, how to implement so it sticks...

  • Grant GarrisonGrant Garrison

    Seems like President Obama agrees, thank goodness, that inequality is the core challenge we face - not just in America but globally. Redistribution is one strategy - and a worthy one to be sure - but I also wonder whether we have to sort out what the collective bargaining innovation is for the 21st century. Amidst all the hostility to unions being capitalized upon by GOP governors, is there an alternative vision for how we ensure wage and productivity gains don't only accrue to the 1%?

  • Alessandra RizzottiAlessandra Rizzotti

    I like that Oxfam's chief executive Barbara Stocking was quoted: “Concentration of resources in the hands of the top 1% depresses economic activity and makes life harder for everyone else – particularly those at the bottom of the economic ladder.” Glad that someone like Obama is trying to fix this issue in America, but I wonder if it will help the global problem?

    • Lisa Rau CannonLisa Rau Cannon

      Yeah, it seems like throwing money at it could alleviate symptoms but wouldn't get at any root causes. Especially the non-monetary ones, like class/race/political issues that lead to inequities...

      • Hannah WassermanHannah Wasserman

        Definitely. Also, a huge problem in aid is the misuse of money. Many governments are so corrupt that a lot of money isn't getting to those who need it. Also, there are varying levels of efficiency among NGOs-- to make the biggest dent in global poverty, who should the $$ go to?