Inequality, Democracy, and Class Warfare

Maude Barlow, head of the Council of Canadians, spoke at Toronto’s Massey Hall in protest of the G20 meeting. From Democracy Now, July 2, 2010, here’s a little of what she said:

“The richest 2% own more than half the household wealth in the world. The richest 10% hold 85% of total global assets and the bottom half of humanity owns less than 1% of the wealth in the world. The three richest men in the world have more money than the poorest 48 countries.”

I did my own research on related questions. From Murray Dobbin’s book, The Myth of the Good Corporate Citizen, (2nd edition, 2003, p. 123), “In 1995 there were ‘only’ 357 billionaires. Their net worth was $760 billion, more wealth than the bottom 45 percent of humanity. That is, 357 people in the world owned more combined wealth than 2.7 billion other people.”  According to a March 11, 2010 article in The Globe and Mail headlined, “The New World Order,” there are now over 1,000 billionaires. (Note the themes of the growing inequality and increasing wealth gap.) A little research on the Internet showed that their net worth is $3 trillion. I checked with Shannon Daub, Communications Director of the BC Canadian Centre for Policy Alternatives, and she told me that their value was equivalent to the net worth of more than the poorest 3.5 billion human beings (out of 7 billion) on the planet.

To read the full article, please click on the following link.

Inequality Democracy and Class Warfare

About clearpolitics

Hello! Please click on "About" (don't worry, it's safe!) re how to view posts. Good reading to you! @Rolf_Auer
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2 Responses to Inequality, Democracy, and Class Warfare

  1. Deb says:

    Thanks for this summary, Rolf.

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