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We risk seeing the biggest rise in inequality *since records began*
The world's 10 richest billionaires -all men- are over *half a trillion* dollars richer since March
This ain't a drill. New @Oxfam report out now as Davos kicks off
Bloomberg
. THREAD https://www.bloomberg.com/news/articles/2021-01-25/world-s-richest-shake-off-crisis-in-record-setback-to-inequality?utm_source=google&utm_medium=bd&cmpId=google
The world's 10 richest billionaires -all men- are over *half a trillion* dollars richer since March
This ain't a drill. New @Oxfam report out now as Davos kicks off
Bloomberg
. THREAD https://www.bloomberg.com/news/articles/2021-01-25/world-s-richest-shake-off-crisis-in-record-setback-to-inequality?utm_source=google&utm_medium=bd&cmpId=google
Those ten billionaires? That's half a trillion RICHER since March. They were already immensely rich
Half a TRILLION you ask? That's more than enough to pay for a COVID19 vaccine for us all and to ensure *no one's* pushed into poverty by the pandemic https://www.cbsnews.com/news/oxfam-billionaire-wealth-poverty/
2/10
Half a TRILLION you ask? That's more than enough to pay for a COVID19 vaccine for us all and to ensure *no one's* pushed into poverty by the pandemic https://www.cbsnews.com/news/oxfam-billionaire-wealth-poverty/
2/10
At the bottom, a profoundly different story.
The data shows it could take *more than a decade* for *billions of the worldâs poorest people* to recover from the pandemic's economic hit.
It's people struggling to pay the bills, put food on the table https://edition.cnn.com/2021/01/24/economy/oxfam-inequality-rich-poverty/index.html
3/10
The data shows it could take *more than a decade* for *billions of the worldâs poorest people* to recover from the pandemic's economic hit.
It's people struggling to pay the bills, put food on the table https://edition.cnn.com/2021/01/24/economy/oxfam-inequality-rich-poverty/index.html
3/10
So our economy is designed this way: entrenching billionaire wealth at the expense of the dignity of billions of people.
COVID19 exacerbating these huge inequalities
A mega-rich few are almost living on a different planet. Some of 'em might be soon https://www.bloomberg.com/news/features/2020-12-09/elon-musk-jeff-bezos-use-opportunity-zone-tax-breaks-for-private-space-race
4/10
COVID19 exacerbating these huge inequalities
A mega-rich few are almost living on a different planet. Some of 'em might be soon https://www.bloomberg.com/news/features/2020-12-09/elon-musk-jeff-bezos-use-opportunity-zone-tax-breaks-for-private-space-race
4/10
At the heart of inequality?
How white supremacy, elitism & patriarchy conspire at the root of our economy
Economies the
over rigged against the poor
Against marginalized racial & ethnic groups
Against women
We must get this if we're to go forward
5/10 https://www.aljazeera.com/economy/2021/1/25/covid-19-worsened-global-inequality-even-as-the-rich-bounced-back
How white supremacy, elitism & patriarchy conspire at the root of our economy
Economies the
over rigged against the poorAgainst marginalized racial & ethnic groups
Against women
We must get this if we're to go forward
5/10 https://www.aljazeera.com/economy/2021/1/25/covid-19-worsened-global-inequality-even-as-the-rich-bounced-back
Any economic analysis without a race, gender or class lens is incomplete. Consider
22,000 Black & Hispanic people in
would still be alive if they had the same COVID mortality rates as white people
Afro-descendants in
40% more likely to die of COVID than white people
6/10
22,000 Black & Hispanic people in
would still be alive if they had the same COVID mortality rates as white peopleAfro-descendants in
40% more likely to die of COVID than white people6/10
It can feel darn hard to hope.
But the strength of movements - climate strikers, #BlackLivesMatter
, of inequality activists - guide the way.
A few governments too like South Korea, Sierra Leone, New Zealand show action is possible
Some biz too
https://twitter.com/NabsIMA/status/1352197318326571009
7/10
But the strength of movements - climate strikers, #BlackLivesMatter
, of inequality activists - guide the way.A few governments too like South Korea, Sierra Leone, New Zealand show action is possible
Some biz too
https://twitter.com/NabsIMA/status/13521973183265710097/10
Best put: as @DarrickHamilton writes in his Foreword to @Oxfam's #InequalityVirus report: "we need a policy response that is anti-racist, anti-sexist and one that actively reduces the gap between rich and poor, especially across race and ethnicity"
https://oxfamilibrary.openrepository.com/bitstream/handle/10546/621149/bp-the-inequality-virus-250121-en.pdf
8/10
https://oxfamilibrary.openrepository.com/bitstream/handle/10546/621149/bp-the-inequality-virus-250121-en.pdf
8/10
We know what policies bust inequality
We have the evidence. We know what works well
A #PeoplesVaccine first. Universal healthcare, education, social protection. Progressive tax. Value care. Reduce the emissions of the rich. Guarantee income security
Isn't rocket science
9/10
We have the evidence. We know what works well
A #PeoplesVaccine first. Universal healthcare, education, social protection. Progressive tax. Value care. Reduce the emissions of the rich. Guarantee income security
Isn't rocket science
9/10
There's surely no other way
There's no hiding from the great divide
We don't want to see where this road ends up do we?
Lets instead make equality core to 21st century, common-sense economic decision-making
More today on this brill panel 19:30 CET
ENDS https://www.weforum.org/events/the-davos-agenda-2021/sessions/press-conference-tackling-the-inequality-virus
There's no hiding from the great divide
We don't want to see where this road ends up do we?
Lets instead make equality core to 21st century, common-sense economic decision-making
More today on this brill panel 19:30 CET
ENDS https://www.weforum.org/events/the-davos-agenda-2021/sessions/press-conference-tackling-the-inequality-virus
