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AFRICANGLOBE - According to anti-poverty charity, Oxfam’s latest report, the richest one per cent of the world’s population will have more wealth than the remaining 99 per cent by 2016.
AFRICANGLOBE - It is not by accident that America has become both the most unequal developed nation in the world, and the nation with the largest prison population. We're number one in police killings, incarceration and inequality—not Russia, not China. Our national self-image so steeped in the idea of freedom has not caught up with these ugly realities.
AFRICANGLOBE- Focus on global inequality has gone mainstream. From papal proclamations to warnings of impending doom by the economist Thomas Piketty, social injustice is making headlines. Yet the issue is still not being considered seriously enough.
In the next decade, something must give. Either Americans must accept that the American dream of widespread mobility is dead or new policies must emerge that will restore broadly shared prosperity.” But the cards have already been dealt — and the verdict is in. Not only will the American dream remain dead, but also income and wealth and risk inequality will escalate by virtue of the government-supported consolidation of banking family and firm power.
AFRICANGLOBE - Wealthy elites have co-opted political power to rig the rules of the economic game, undermining democracy and creating a world where the 85 richest people own the wealth of half of the world's population, worldwide development organization Oxfam warns in a report published today.
AFRICANGLOBE - The ratio of CEO-to-worker pay has increased 1,000 percent since 1950, according to data from Bloomberg. Today Fortune 500 CEOs make 204 times regular workers on average … up from 120-to-1 in 2000, 42-to-1 in 1980 and 20-to-1 in 1950.
Recently, the Urban Institute released a study on the racial wealth gap titled "Less Than Equal: Racial Disparities in Wealth Accumulation." The study found that, while the racial wealth gap has existed for decades, it's drastically expanded during the last 30 years.
AFRICANGLOBE - An attack by security guards on South African miners working for Amplats left 13 injured and provoked a one-day protest strike at Anglo American Platinum (Amplats) facilities.The conflict began as a stand-off between workers at Amplats Siphumelele mine in the Rustenburg area between the Workers Committee and shop stewards of the National Union of Mineworkers
For days, the world witnessed the flames of discontent and disenchantment engulfing the urban streets of England, in the aftermath of the shooting death of 29-year old Mark Duggan, by the Metropolitan Police Service on August 4.