New wealth of top 1% surges by over $33.9 trillion since 2015 – enough to end poverty 22 times over, as Oxfam warns global development “abysmally off track” ahead of crunch talks | Oxfam International
www.oxfam.org

cross-posted from: https://reddthat.com/post/44520548

  • Oxfam condemns “private finance takeover” of development efforts, as over 3.7 billion people remain in poverty ten years after the Sustainable Development Goals were agreed.
  • New Oxfam analysis unveils “astronomical rise in private wealth”. Between 1995 and 2023, global private wealth grew by $342 trillion – 8 times more than public wealth.
  • Oxfam analysis also shows governments are making the largest cuts to life-saving aid since aid records began. Aid cuts could cause 2.9 million more children and adults to die by 2030, from HIV/AIDS causes alone.
  • Results of a new global survey show 9 out of 10 people support paying for public services and climate action through taxing the super-rich.
  • Oxfam urges new strategic alliances to address inequality; urgently revitalize aid and tax the super-rich; and assert new “public-first” approach over private finance.
  • JustTesting@lemmy.hogru.ch
    0·
    19 hours ago

    One thing I always wonder is if it actually could end poverty 22 times over.

    i mean, rich people hoarding money is increasing moneys scarcity for everyone else, theoretically increasing its value. And if it were suddenly distibuted fairly, it’d lose value and there would be a higher cut off for what’s considered poverty. on the other hand, a lot of their money is funny money, like being tied up in stocks and not actually worth as much in currency compared to what is said (if they sold the stock, the value would drop and they’d get less).

    so i’m actually curious if anyone ever did an analysis of what would happen if e.g. the wealth of the top 0.1% is evenly spread across the population.

    of course that’s super complex and hard to say what the social effects would be. But the simplistic ‘everyone would get x dollars, poverty limit is y, x > y, so no more poverty’, while useful to show the scale, always sounded too naive to me.

  • chris@lemmy.zip
    0·
    20 hours ago

    People seem to be more worried about the Russians, thanks to the media, which are owned by the 1% 🤔

  • henfredemars@infosec.pubEnglish
    0·
    1 day ago

    No worries. My dad assures us we’re all gonna be billionaires just give it a little bit more time.

    Well, considering the economic situation, there’s always a possibility of runaway inflation and for that to become quite true.

    • FerretyFever0@fedia.io
      0·
      1 day ago

      I think that a lot of us are at least billionaires in Lebanon. Well, those of us that have a net worth of at least a couple tens of thousands of USD.