(Newswire.net — January 19, 2016) — A British NGO Oxfam survey showed that the wealth of 62 of the richest people in the world is equal to the wealth of approximately half of the worlds population, reported the BBC.
For the sake of comparison, just five years ago, 388 people owned wealth equal to half of the world’s population, which means that the difference in the distribution of wealth is rapidly increasing.
In a report from October 2015 from the Credit Suisse data bank, Oxfam calls world leaders to take measures to alleviate these large disparities. Also, the report criticizes the work of lobbyists, as well as the amount of money that is kept in ‘tax havens’ in countries with extremely low tax rates.
The NGO predicts that next year, the wealth that the richest people, who make up 1% of the population possess, will overtake the wealth of the rest of the world combined.
To get into the top 10% of the richest people, you would need to have money and property valued at $68,800, and for the top 1%, $760,000.
“Instead of economy which works for the prosperity of all people, for future generations and for the whole planet, we have created an economy which works for the 1%,” warns Oxfam in a new report.
The organization is asking world governments to take a range of measures to reduce the huge differences in wealth. Among other things, it requires that workers receive fair wages from which they are able to live off of.
Oxfam is also fighting for gender equality and to end the differences in wages, as well as payment of fees for the care of those who are unable to care for themselves.
The NGO is working on promoting equal rights for women to their inheritance, working towards reducing the price of drugs, taxing the rich and reducing ‘tax havens’ and is taking measures against lobbying.
The organization urges leaders meeting in Davos this week to take action on inequality.