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Finance Capitalism and Income Inequality in the Contemporary Global Economy - Original PDF
Finance Capitalism and Income Inequality in the Contemporary Global Economy - Original PDF
نویسندگان: Kuat B. Akizhanov خلاصه: Rising inequality in income distribution is one of the most persistent global challenges, widespread not only in low- and middle-income coun- tries but also in industrialised ones. There is an increasingly alarming sta- tistics on wealth and income disparity as, for instance, four consecutive Oxfam reports have witnessed. Thus, in 2015 the wealthiest 62 individuals owned as much wealth as 3.6 billion people compared with 388 individu- als in 2010. Their wealth had increased from 2010 by 44% or $542 billion, while the wealth of the bottom 50% of the world’s population dropped by 41%, or over one trillion dollars (Oxfam, 2016). By 2016, just eight mostly white men possessed the same amount of wealth as the poorest half of the global population and the richest 1% controlled more wealth than the rest of the globe. Between 1988 and 2011 the incomes of the poorest decile rose by less than $3 a year compared with a 182-fold increase of the richest 1% (Oxfam, 2017). In 12 months of 2017 the incomes of the world’s elite increased by $762 billion which was enough to eradicate extreme poverty seven times over. Between 2006 and 2015 worker income rose by an aver- age of just 2% a year compared with a 13% increase for billionaires per year. In 2017, top 1% earners received 82% of all growth in global wealth, whereas the poorest half of the world population did not benefit at al

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