Global 1% to Own 50% of Wealth by 2016 - Enough Is Enough

Ferd
Sat, 24 Jan 2015 14:36:56 +0000
Capitalist crisis, Poverty, Economy, International, Newsroom, News, Fionnghuala Nic Roibeaird

There is something fundamentally wrong with this system when 80 people can have the same amount of wealth as what 3.6 billion people have between them. The figures from Oxfam’s latest report show that the rich really are getting richer and that the poor are getting poorer.

There are many factors we can attribute to this trend; globalization, out-sourcing, the breaking of labour power through the breaking of the unions in the Reagan-Thatcher era that labour never recovered from. Ultimately it falls down to the growing strength of capitalism and therefore the growing strength of the other harmful power structures that it has to support it. Included in these is racism, cheap labour from immigrants or as in many cases slave labour, as well as sexism, with gender being the division of labour. Both of these things, racism and sexism (to name only a few) come from policies implemented at the top of society that are targeted at the rest of us.