Just eight billionaires are as wealthy as the poorest half of humanity, showing that the global inequality crisis is more extreme than we had feared. It is clear the current economic system is broken, serving the interests of multinational corporations and the super-rich.
Budget 2016, it had it all: “the economy”, bracket creep, innovation, nimbleness, agility, debt and deficit. Surely that’s everything, right? Well, not quite.
The fact that just 62 people own as much as half the world’s population has made headlines around the world, but it’s just one step in the fight to get the action needed from governments, big business and the mega rich to reverse the tide of extreme inequality.
Extreme inequality is one of the defining issues of our time. Today, just 62 individuals have the same wealth as the poorest half of the world. That’s just 62 mega-rich individuals compared to 3.5 billion people.
Helping to end poverty and inequality, and supporting communities to tackle climate change – they’re the biggest challenges facing the world today. But at the moment, Australia is failing do its fair share on both counts. In July our leaders have an opportunity to change this. At the Finance for Development Conference in Addis Ababa, Australia […]
Next year the richest 1% of people in the world will have more wealth than the other 99% of people. Australia can be part of the solution to global inequality – but it means not turning our back on the world’s poorest people.
The two great challenges of our time — inequality and climate change — are threatening to undermine the efforts of millions of people to escape poverty and hunger. By concentrating wealth and power in the hands of a few, inequality robs the poorest people of the support they need to improve their lives.
Remarkably more than half of the people in G20 countries, the economic powers of the world, live below the poverty line of $2US per day. These people are mainly in China, India and Indonesia, large countries and major trading partners of Australia, this year’s host. The G20 can do something about this.
Barbara’s house is made of mud and has a tin roof. She’s sitting outside, tearing Kalembla leaves from their stems, dropping them into a small bowl on her lap. Her two children Gertrude (10) and Edward (5) are next to her, their eyes fixed wide. They are subdued, limbs propped around each other, stroking the dry earth with their feet.
In the lead up the G20 Leaders’ Summit in November, Oxfam Australia CEO Dr Helen Szoke spoke at The Bob Hawke Prime Ministerial Centre in Adelaide about the threat posed by extreme inequality and the opportunity that tackling it represents. Below follows an edited excerpt from Dr Helen Szoke’s speech. Right now, we live in […]