Tuesday, January 19, 2016

Capitalist "democracy"

The 62 billionaires and the truth about inequality



A note by Michael Roberts
This is what Oxfam say in a footnote in their report: “The total wealth of the top 1% in 2015 was $125 trillion, approximately $1.7m for each of the 72 million people in the top 1%. The total wealth of the bottom 90% was $31 trillion, approximately $5,000 for each of the 648
million people in this group. Oxfam calculation based on Credit Suisse (2015) ‘Global Wealth Databook 2015’.
CCA04D4BB9B9ADD5″ This is clearly wrong. It should be 6.48bn not 648m, I think.

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