Oxfam: wealthiest can easily tackle poverty

  • Briefing released ahead of next week’s World Economic Forum in Davos, Switzerland.
  • Political and economic leaders from around the world will gather for four days at Davos from January 23.
  • It is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas
  • The charity claimed world’s richest 100 people earned enough last year to end extreme poverty for the world’s poorest people four times over
  • The charity called on world leaders to commit to reducing inequality to levels last seen in 1990
  • Barbara Stocking, Oxfam’s chief executive, said a global new deal was needed to reverse decades of increasing inequality.
  • Stocking said we could no longer act as if the creation of wealth for a few will inevitably benefit the many too often the reverse is true.
  • Stoking added concentration of resources in the hands of the top one percent depresses economic activity and makes life harder for everyone else particularly those at the bottom of the economic ladder.
  • Oxfam’s briefing pointed out that the World Economic Forum’s own Global Risk Report rated inequality as one of the top global risks of 2013, something the International Monetary Fund agrees with.
  • Oxfam said world leaders should learn from countries like Brazil, which has grown rapidly while reducing inequality, and also cited former US president Franklin D Roosevelt’s New Deal in the 1930s during the Great Depression, the paper concluded.
  • Oxfam is an international confederation of organisations working in approximately 90 countries worldwide to find solutions to poverty and related injustice around the world

 

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