Richest 300 Persons on Earth Have More Money Than Poorest 3 Billion

FacebookTwitterRedditDiggStumbleUponTumblrLinkedInPinterestEmailShare

money talks democracy has no voice

Your Daily Dose of BuzzFlash at Truthout, via my pal Mark Karlin:

Trade agreements and global corporate exploitation of international monetary regulations provide resources and cheap labor to developed nations, while leaving poorer countries depleted. Is it possible that rich countries have increased the wealth gap from being 35 times greater during European colonialization to 80 times greater today? The video Global Wealth Equality contends that is the case.

This are just some examples of how the economic cards are stacked by the G-8 and G-20 through the institutional and global corporate creation and manipulation of the financial rules. But when you move to the impact of global wealth distribution to individuals, according to Global Wealth Equality, the richest 1% on the earth have accumulated some 43% of the world's wealth, while the bottom 80% of the planet's inhabitants have just 6% between them. [...]

This skewed economic distribution within the US is reflective of an even worse economic disparity in the world in general.

The post-colonial era has actually accelerated economic injustice on a worldwide basis. What's done in the name of helping the world's poor (by the World Bank and the International Monetary Fund) is often really only a process of capturing markets too weak to fight back and indebting them to the masters of wealth without recourse. This has become abundantly clear in the World Bank's policies of "structural adjustment" for the developing world, which might be best phrased as "you pay us the interest on our loans and impose austerity on yourselves. It will be good for you."

Sound familiar?

Please read the entire post here.

FacebookTwitterRedditDiggStumbleUponTumblrLinkedInPinterestEmailShare
  • Aaron Schwartz

    So give the 300 names and addresses to the 3 billion.