This stopped me in my tracks this morning: “The richest five percent of the world’s population increased their share of global household income from 42.87% in 1988 to 45.75% in 2008. Had this substantial shift of nearly three percent of global household income gone to humanity’s poorer half instead, it would have easily sufficed to end severe poverty on this planet.”
“Looking just at the richest 1/100 percent of the U.S. population, we find that it increased its share of national household income from 0.86 percent in 1978 to 5.47 percent in 2012 gaining 539% over and above the rise in the U.S. average income. These 31,000 people now have about half as much income as the poorer half (155 million) of Americans and about the same income as the poorest 35% (2.5 billion people) of humankind.”*
“Let’s sing another song, boys, this one’s grown old and bitter.” – Leonard Cohen
* (Pogge, Thomas (2014) “Are We Violating the Human Rights of the World’s Poor? Responses to Four Critics,” Yale Human Rights and Development Journal: Vol. 17: Iss. 1, Article 3.