Advertisements

The Rich Get Richer and the Poor Get Poorer


Photo: Shutterstock

By THE PULSE NEWS MEXICO STAFF    

The world’s wealthiest 1 percent increased their financial income by 12 percent in 2018, to an average of $2,500 a day, while the underprivileged half of workers that make up the world’s 3.8 billion poorest saw their earnings drop by 11 percent, according to a report released by the nonprofit development organization Oxfam on Monday, Jan. 21.

The report, titled “Public Wellbeing or Private Benefit?” was presented during the Davos World Economic Forum in Switzerland and highlighted the danger of the increasing financial gap between the world’s riches and the world’s poorest.

It also pointed out how governments help to increase that gap by offering fiscal incentives to large corporations and wealthy individuals without providing basic public services such as health and education for its larger populations.

The report said that women and children are most negatively affected by increased poverty.

 

 

Advertisements
Categories: economics, FinanceTags: , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.