Business: The Wealth Gap is Widening

If you made it through elementary school math class you know that the difference between 80 people and 3.5 billion people is not small. What else isn’t small? 1.9 trillion dollars. Reports from Oxfam have surfaced indicating that the 80 richest people in the world have about $1.9 trillion between them, the same amount of money shared by roughly 3.5 million people who represent the bottom half of the world’s income scale. These reports, paired with predictions that by next year a handful of the upper-class will have accumulated more than half of the world’s wealth, suggest that the income gap is growing in the wrong direction. “Do we really want to live in a world where the 1 percent own more than the rest of us combined?” Oxfam executive director Winnie Byanyima said in a letter. “The scale of global inequality is quite simply staggering and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast.”

Contributor: Phobe Roe

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