zondag 20 januari 2013

The Neoliberal Religion 63


  

OXFAM MEDIA BRIEFING  
18 January 2013      Ref: 02/2012  


The cost of inequality: how wealth and income 
extremes hurt us all 


The world must urgently set goals to tackle extreme inequality and extreme wealth 
Extreme wealth and inequality are reaching levels never before seen and are getting 
worse 

Over the last thirty years inequality has grown dramatically in many countries. In the US the 
share of national income going to the top 1% has doubled since 1980 from 10 to 20%. For the 
top 0.01% it has quadrupled8 to levels never seen before. At a global level, the top 1% (60 million 
people)9, and particularly the even more select few in the top 0.01% (600,000 individuals - there 
are around 1200 billionaires in the world), the last thirty years has been an incredible feeding 
frenzy10. This is not confined to the US, or indeed to rich countries. In the UK inequality is rapidly 
returning to levels not seen since the time of Charles Dickens11. In China the top 10% now take 
home nearly 60% of the income. Chinese inequality levels are now similar to those in South 
Africa,12 which are now the most unequal country on earth and significantly more unequal than at 
the end of apartheid13. Even in many of the poorest countries, inequality has rapidly grown14
Globally the incomes of the top 1% have increased 60% in twenty years.15 The growth in income 
for the 0.01% has been even greater16

Following the financial crisis, the process has accelerated, with the top 1% further 17 increasing 
their share of income18. The luxury goods market has registered double digit growth every year 
since the crisis hit19. Whether it is a sports car or a super-yacht, caviar or champagne, there has 
never been a bigger demand for the most expensive luxuries.  

The IMF has said that inequality is dangerous and divisive and could lead to civil unrest20. Polling 
shows the public is increasingly concerned.

Geen opmerkingen:

Peter Flik en Chuck Berry-Promised Land

mijn unieke collega Peter Flik, die de vrijzinnig protestantse radio omroep de VPRO maakte is niet meer. ik koester duizenden herinneringen ...