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Archive for June 17th, 2013

Plutonomy 101

https://caelumetterra.files.wordpress.com/2013/06/72e5c-billboardamericanway.jpgIn early 2013, Oxfam reported that the fortunes made by the world’s 100 richest people over the course of 2012 – roughly $240 billion – would be enough to lift the world’s poorest people out of poverty four times over. In the Oxfam report, “The Cost of Inequality: How Wealth and Income Extremes Hurt Us All,” the international charity noted that in the past 20 years, the richest 1% had increased their incomes by 60%. Barbara Stocking, an Oxfam executive, noted that this type of extreme wealth is “economically inefficient, politically corrosive, socially divisive and environmentally destructive…We can no longer pretend that the creation of wealth for a few will inevitably benefit the many – too often the reverse is true.”

That is just one paragraph of an extensive and well-researched report on the global corporatocracy published by Occupy.com. You can read the whole thing here.

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