One % Owns and The Rest Owes....

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It is tragic that the mere 1 % of the world owns this earth and the rest mourns the dearth.  It is cruel that the Economists have succeeded in marginalizing the marginalized of the world and enriched the Rich of the world.  The rich fly, eat,dress, dance and drink  at the cost of the working class the world over. What ever be the tax structure, the rich's economic structure is quite intact. Inequalities continue to grow at a faster pace than ever. Also the ironical part of this tyranny is that the poor also  thinks like the Rich once he is in the company of the elite. 

For  instance the monthly assured income of a laborer in India ( if he gets 25 days job under MNREGS is 50 U.S. dollars where as the salary of a corporate leader is around 1 million U.S. dollars apart from the innumerable allowances. The taxing system is not prudent enough to generate enough income to meet the needs of the deserving. 

But for air nothing is common between the poor and the rich. They eat more, spend more, drink more, occupy more living space, consume more energy and so on. The world economists have to come out with ways to minimize the widening gap.  


Ways to narrow down the gap between the rich and the poor.

• Make land the property of the state
• Allow not e-trading in Markets
• Let cash or any banking instrument get passed and shares transferred to the buyer.
• There is no need to have daily transactions/ tradings 
• The artificial or virtual money  is the reason for inflation
• Give the power of fixing the cost of produce to any one who produces it.
• Provide 50% seats/beds in educational institutions /hospitals free for the poor.
• Pay equal pay to all. Let seniority decide their increments.  

"The combined wealth of the richest 1 percent will overtake that of the other 99 percent of people next year unless the current trend of rising inequality is checked, Oxfam warned today ahead of the annual World Economic Forum meeting in Davos.

The international agency, whose executive director Winnie Byanyima will co-chair the Davos event, warned that the explosion in inequality is holding back the fight against global poverty at a time when 1 in 9 people do not have enough to eat and more than a billion people still live on less than $1.25-a-day.

Byanyima will use her position at Davos to call for urgent action to stem this rising tide of inequality, starting with a crackdown on tax dodging by corporations, and to push for progress towards a global deal on climate change.

Wealth: Having It All and Wanting More, a research paper published today by Oxfam, shows that the richest 1 percent have seen their share of global wealth increase from 44 percent in 2009 to 48 percent in 2014 and at this rate will be more than 50 percent in 2016. Members of this global elite had an average wealth of $2.7 million per adult in 2014.

Of the remaining 52 percent of global wealth, almost all (46 percent) is owned by the rest of the richest fifth of the world’s population. The other 80 percent share just 5.5 percent and had an average wealth of $3,851 per adult – that’s 1/700th of the average wealth of the 1 percent.

Staggering inequality

Winnie Byanyima, Executive Director of Oxfam International, said: “Do we really want to live in a world where the one percent own more than the rest of us combined? 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.

“In the past 12 months we have seen world leaders from President Obama to Christine Lagarde talk more about tackling extreme inequality but we are still waiting for many of them to walk the walk. It is time our leaders took on the powerful vested interests that stand in the way of a fairer and more prosperous world.  

“Business as usual for the elite isn’t a cost free option – failure to tackle inequality will set the fight against poverty back decades. The poor are hurt twice by rising inequality – they get a smaller share of the economic pie and because extreme inequality hurts growth, there is less pie to be shared around.”

Business must act

Lady Lynn Forester de Rothschild, Chief Executive Officer of E.L. Rothschild and chairman of the Coalition for Inclusive Capitalism, who is speaking at a joint Oxfam-University of Oxford event on inequality today, called on business leaders meeting in Davos to play their part in tackling extreme inequality.

She said: “Oxfam’s report is just the latest evidence that inequality has reached shocking extremes, and continues to grow. It is time for the global leaders of modern capitalism, in addition to our politicians, to work to change the system to make it more inclusive, more equitable and more sustainable.  

“Extreme inequality isn't just a moral wrong. It undermines economic growth and it threatens the private sector's bottom line.  All those gathering at Davos who want a stable and prosperous world should make tackling inequality a top priority."