Inequality at Davos
The annual gathering of the global elite – politicians, economists, academics etc., are meeting in Davos, Switzerland this week. Their main topic is to discuss the growing inequality between the richest and poorest people. This piece by Occupier Clive Menzies was written for the website ‘Critical Thinking‘ and puts the topic in perspective.
The World Economic Forum at Davos this week is discussing inequality. NBC News declared: “With the global economy slowly getting back on its feet, 2,500 delegates gathered in Davos, Switzerland face a vexing question this week: How to spread the wealth.”
This is in the same week that Oxfam released a report which revealed the richest 85 people in the world own wealth equivalent to that owned by the poorest 3.5 billion, approximately half the global population. Expressed another way: 0.00000000017% of the world’s population own the same as the poorest 50%. It throws the Occupy slogan of “We are the 99%” into sharp relief.
Accelerating inequality is a function of the economic system and is driven by three fundamental flaws which, if not addressed, render all other remedies impotent and will result in the collapse of the economic system.