Our economic system is broken and is overwhelmingly favouring the rich. That’s the message from an Oxfam International report which was released as the 50th World Economic Forum got under way in Davos, Switzerland.
The UK-based charity found the number of billionaires has doubled over the past decade to reach more than 2,000.
They control more money than 4.6 billion of the poorest people on Earth.
If the two richest men sat on their fortune piled up in $100 notes, they would be in outer space, the report said, while most people – particularly women – would be sitting on the floor.
The charity says the gap is widening because governments are failing to ensure wealthy people and corporations pay enough tax.
Daragh McDowell – Head of the Europe branch at Verisk Maplecroft global risk and strategic consulting firm
Max Lawson – Head of policy on inequality at Oxfam International
Matthew Lesh – Head of research at the Adam Smith Institute
Source: Al Jazeera News