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Deborah Hardoon explains how Oxfam discovered that eight billionaires own the same wealth as half the world’s population and other findings in the report.
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An Economy For the 1%
Wealth: Having it all and wanting more
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New estimates show that just eight men own the same wealth as the poorest half of the world. As growth benefits the richest, the rest of society – especially the poorest – suffers. The very design of our economies and the principles of our economics have taken us to this extreme, unsustainable and unjust point. Our economy must stop excessively rewarding those at the top and start working for all people. Accountable and visionary governments, businesses that work in the interests of workers and producers, a valued environment, women’s rights and a strong system of fair taxation, are central to this more human economy.
The sources and methodology behind the headline facts in this paper are explained in the separate methodology note.
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