Monday, January 2, 2017

Capitalism Unmasked: Numbers reveal the expansion of social inequalities in the 21st century

The poorest half of the world's population shares a bit under the 1% of the global wealth, while the richest 10% owns the 88% of the total global wealth. The 0.7% of the world's population owns 116.6 trillion dollars!

1. The richest 1% of the world's population controls half of the global wealth. Despite the economic crisis, the number of millionaires in a worldwide scale was increased during the last 12 months of 2016.

2. According to a survey by Credit Suisse, 3.4 billion people- the 71% of the world's population- share only 7.4 trillion dollars, less than the wealth of the 2,473 billionaires around the world. 

3. The total number of billionaires grew by 81% since 2009, a year after the collapse of Lehman Brothers, while their wealth was more than doubled. According to data provided by Wealth-X and UBS, 16.6 million people (0.334% of the global population) own 77 trillion dollars, which is almost the annual global GDP.

4. Approximately 211,275 millionaires (0.004% of the global population) own the 12.8% (29.7 trillion dollars) of the global wealth, while 2,325 billionaires own 7.3 trillion dollars.

5. The wealth of the richest 62 people has risen by 45% in the five years since 2010 – that's an increase of more than half a trillion dollars ($542bn), to $1.76 trillion.

6. Since the turn of the century, the poorest half of the world’s population has received just 1% of the total increase in global wealth, while half of that increase has gone to the top 1%. The average annual income of the poorest 10% of people in the world has risen by less than $3 each year in almost a quarter of a century. Their daily income has risen by less than a single cent every year (Credit Suisse, 2015).

7. Approximately 780,000,000 people lack access to clean water, while 2.5 billion people lack access to sanitation. 

8. Every year, approximately 3,500,000 children die from hunger.