Study: Billionaires Could End Extreme Poverty 7 Times Over

[Milchshake]

In the US for some reason, we associate wealth with virtue. People deserve to be wealthy because they allegedly work harder or are smarter. Well thats what the media tells us, while forgetting who owns and pays for all of the media.

So if billionaires are so wealthy where is all of the virtue? With the rise of extreme wealth where's the correlating extreme trickle down economics? Elon Musk has plans to disrupt drilling, transportation, and flame throwers. Where's his plan to disrupt poverty? That would be statue worthy.


Billionaires Made So Much Money Last Year They Could End Extreme Poverty Seven Times

The global economy created a record number of billionaires last year, exacerbating inequality amid a weakening of workers’ rights and a corporate push to maximize shareholder returns, charity organization Oxfam International said in a new report.

The world now has 2,043 billionaires, after a new one emerged every two days in the past year, the nonprofit organization said in a report published Monday. The group of mostly men saw its wealth surge by $762 billion, which is enough money to end extreme poverty seven times over, according to Oxfam.

According to separate data compiled by Bloomberg, the top 500 billionaires’ net worth grew 24% to $5.38 trillion in 2017, while the world’s richest person, Amazon.com Inc.’s Jeff Bezos, saw a gain of $33.7 billion.

“The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system,” said Winnie Byanyima, executive director of Oxfam International. “The people who make our clothes, assemble our phones and grow our food are being exploited.”

Oxfam published the report as global leaders, chief executives and bankers arrive in Davos, Switzerland, for the World Economic Forum’s annual meeting. Noting that many of the world’s elite say they’re concerned about income inequality, the charity said most governments are “shamefully failing” to improve the matter.

Oxfam called on governments to limit shareholder and executive returns, while ensuring workers receive a living wage. It also recommended eliminating the gender pay gap and raising taxes on the wealthy, among other suggestions.

“People are ready for change,” Byanyima said. “They want a limit on the power and the wealth which sits in the hands of so few.”

[andy123456]

Most of these billionaires are not there to make money and then distribute it to other people.
I guess the person who did this study, it was a wasted effort by him/her

[Deleted]

End 'extreme poverty', not 'poverty'. There would be still majority of poor people in the world.

[PaterMDx]

why should we help africans?
last time this totaly didnt backfired right? right?

[Kathandira]

Most of these billionaires are not there to make money and then distribute it to other people.
I guess the person who did this study, it was a wasted effort by him/her

That was basically stated in the first few sentences.

[Elegiac]

why should we help africans?
last time this totaly didnt backfired right? right?

Because nationbuilding is totally the same thing as colonisation for the purposes of economic exploitation.

[LedZeppelin]

Like 50 years ago, 75% of the world was in extreme poverty. Now its like 9%. Hardly a failing economic model.

[pionock]

Despite capitalism having raised more people out of poverty than ever, let's continue to hate those that have more money than us.

"C'mon rich dudes, just give us your money, it'll totally improve our lives, I swear for realzies!"

[Elegiac]

Despite capitalism having raised more people out of poverty than ever, let's continue to hate those that have more money than us.

"C'mon rich dudes, just give us your money, it'll totally improve our lives, I swear for realzies!"

Oh look, yet another person with an internet hot take understanding of history.

Capitalism doesn't raise people out of poverty on it sown.

[andy123456]

why should we help africans?
last time this totaly didnt backfired right? right?

africa would have been better place if colonist did not enter their , but that was not the case.
today also world is depended on Africa on many resources , but i guess from your writing "why should we help africans ?" you are one of those person who like to exploit other people. and your childrens will think why people from africa is attacking my country.

[Deletedaccount1]

Steven Pinker has a new book coming out about how life in the past few decades has become much better for the global poor and will continue to do so for the foreseeable future.

[pionock]

Oh look, yet another person with an internet hot take understanding of history.

Capitalism doesn't raise people out of poverty on it sown.

Oh wait, is this where you bring me your hot take about how white people are evil and colonized everything to make themselves rich? We get it, man, you're cynical about anything that might be remotely positive if it means someone gets hurt.

[Elegiac]

Oh wait, is this where you bring me your hot take about how white people are evil and colonized everything to make themselves rich?

"Evil", no. But colonized everything for economic gain? You bet.

We get it, man, you're cynical about anything that might be remotely positive if it means someone gets hurt.

I fail to see how economic exploitation is a net positive.

[Independent voter]

$32,000 a year puts you in the top 1% world wide.

Your $32,000 thousand would improve the lives of many were it to be redistributed.

[HavokHeart]

There is a difference between wealth and available resources.

[pionock]

"Evil", no. But colonized everything for economic gain? You bet.



I fail to see how economic exploitation is a net positive.

I fail to see how capitalism is fully exploitative. I never said it's perfect, as no system is, but it's damn better than anything else produced. It gives anyone the opportunity to make a decent living. But hey, let's ignore anyone that's doing just well, and focus on the only the supremely rich. Fuck that business guy making a modest salary but staying afloat just fine, let's punish them because there are a few people who are extraordinarily rich.

[PC2]

Billionaires are great for the country they are active in. Anybody who doesn't like them is free to go live in the wonderful and more equal country of Somalia which doesn't have or create any of these icky billionaires.

[Doctor Amadeus]

Yeah Greed isn't good!

[Unholyground]

Even if I had 5-10 million I would use a good amount of it to help those around me by getting them into self sufficient homes thus reducing the amount of money they need to use to survive increasing quality of life not having to pay for electricity and water.

[breadisfunny]

why should we help africans?
last time this totaly didnt backfired right? right?

you need to open a history book.
but nah don't let history get in the way of your borderline racist agenda,