DAVOS - As many as one percent of the world's population is the richest people in the world, controlling 82 percent of the world's total wealth last year. While the world's poor who number half of the total world population do not enjoy anything. Oxfam reported on Monday (22/1) ahead of World Economic Forum (WEF) held in Davos City, Switzerland.
The report also reveals, since 2010 the wealth of the world's billionaires to grow six-fold faster than ordinary working class. In the March 2016 and March 2017 periods, new billionaires are created every other day.
Oxfam uses these findings to illustrate the face of the global economy, where only a handful of the world's few, gains more profit while at the same time there are hundreds of thousands of poor people struggling just to survive day by day.
"The explosion of the billionaires is not a sign of a growing economy, but a symptom of the failure of the economic system," said Oxfam Executive Director Winnie Byanyima.
In his report titled Reward Work, not Wealth, Oxfam emphasizes the poor condition of women workers, who are constantly getting a lower salary than men. They even often get the lowest paid. As an illustration, nine out of 10 billionaires in the world are men.
Overcome the Gap
The Oxfam report uses data from Credit Suisse to compare the advantages of executive and stockholder officials over the average worker. Among the findings found by Oxfam are the chief executives of five well-known fashion companies just work four days to get paid the equivalent of the wages of the garment workers in Bangladesh for life.
"The people who make our clothes, assemble our phones and grow our food vegetables, are being exploited to supply cheap goods and swell profits are taken by companies and investors," Byanyima said.
To combat this gap, Oxfam also called on governments around the world to limit shareholder and chief executive yields to close earnings gaps, break tax attitudes and raise budgets on health care and education.
"It is now much more difficult to find someone who is trying to close this gap. On the contrary, many activities exacerbate the income gap by cutting taxes and disposing of workers' rights,
