The 62 billionaires and the truth about inequality

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Michael Roberts Blog

The global elites are meeting today for their annual jamboree at the World Economic Forum in Davos, Switzerland.  Some of the world’s top political leaders, banking chiefs and corporate moguls will discuss the key issues, ideas and strategies for how to rule the world.

This year’s main theme is the impact that ‘disruptive technologies’, robots and artificial intelligence will have the future of capitalism.  But the rising risk of new global economic recession, just eight years from the last, will also occupy minds.

Last year, the WEF debated the issue of rising inequality of income and wealth.  But nothing came of that.  So this year, Oxfam issued another report on the grotesque inequality of the ownership of wealth globally.  The headline was that just the 62 richest billionaires own as much as the poor half of the world’s population.  And the top 1% of wealth holders own more…

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