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Oxfam report: the rich are richer, and after?

Economy

“We can always congratulate them whether to play media,” finds ironic the Daily Maverick who comment on the information published by the NGO Oxfam on January 18, according to which the 62 richest people in the world now own as much as half of the world population.

Who could resist the publication of statistics so attractive? But, putting the spotlight on inequalities instead of raising the issue of poverty, blaming the rich instead of criticizing corruption and cronyism, Oxfam missed an opportunity to make this world a better place.

Seductive numbers to catchy headlines, “but what exactly does Oxfam offer in publishing them?” asks the South African daily, which embarks on a calculation of redistribution of this wealth to the poor. “This would give 475 dollars to each. In the best case, assuming that there would be no adverse effect on investment, the labor market, production and prices, all this would not lead very far.”

Mapping of inequality in the world (French)

The Oxfam report also points to the fact that the wealth of the poorest 10% in the world increased by only $3 per person in twenty-five years. “An approach that is not the case when this category does not constantly include the same individuals. In most cases people begin their life with a low income and little wealth, and then improve their situation over time,” underlines the newspaper, which undermines the approach that Oxfam focused on increasing inequality in the world.

“It is certain that such assertions, highlighting the enrichment of the richest, guarantee the headlines. But if you really want to help the poorest, we must focus on those who have enriched themselves by using exclusive concessions and government contracts and abusing generous subsidies. And if you really want to act to cause a change, start first by dismantling policies that allow cronyism and corruption to thrive.”

Source: Courrier International

This post is also available in: French

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