The richest 1% of the world's people have 40% of the wealth.
Article taken from Issue 2 of The Ox-Fly - Oxford's radical newsletter:
http://oxfly.theoarc.org.uk
Article taken from Issue 2 of The Ox-Fly - Oxford's radical newsletter:
http://oxfly.theoarc.org.uk
Everyone knows that a Capitalist economy has to keep expanding to function; any drop in growth is treated with horror on the news. The reason it has to grow is that investors demand profits. But we don't all get richer in the process; for every £100 economic growth the poorest 40% of people only get 60p between them.
Meanwhile the world's richest 200 people doubled their money in the 4 years between 1994 and 1998, that's like having a 20% interest rate on your savings account! The amount they gained in those 4 years is an average $2.5 billion each, how are we supposed to believe that they earned that?
How could they even pretend they deserve that much money?
The solution? Put simply, take back the wealth and decide together how to use it for public benefit! The attempt to squat the empty Fox and Hounds pub is a great practical example:
http://www.indymedia.org.uk/en/regions/oxford/2010/12/469848.html
http://www.indymedia.org.uk/en/regions/oxford/2010/12/469888.html
http://www.indymedia.org.uk/en/regions/oxford/2010/12/470399.html
Meanwhile the world's richest 200 people doubled their money in the 4 years between 1994 and 1998, that's like having a 20% interest rate on your savings account! The amount they gained in those 4 years is an average $2.5 billion each, how are we supposed to believe that they earned that?
How could they even pretend they deserve that much money?
The solution? Put simply, take back the wealth and decide together how to use it for public benefit! The attempt to squat the empty Fox and Hounds pub is a great practical example:
http://www.indymedia.org.uk/en/regions/oxford/2010/12/469848.html http://www.indymedia.org.uk/en/regions/oxford/2010/12/469888.html http://www.indymedia.org.uk/en/regions/oxford/2010/12/470399.html