Question: Which the international non-governmental organization released a report named “An Economy for the One Percent” on the global economic inequality?
(a) Oxford
(b) Oxfam
(c) IBRD
(d) IMF
Ans (b)
Related facts:
- On 18 January 2016, Oxfam an international non-governmental organization released a report named “An Economy for the One Percent” on the global economic inequality.
- The report analysed growing trends of concentration of wealth across the world and suggested remedies to correct the anomaly.
- According to the report richest 1% now has more wealth than the rest of the world combined. Power and privilege is being used to skew the economic system to increase the gap between the richest and the rest.
- In 2015, just 62 individuals had the same wealth as 3.6 billion people. This figure is down from 388 individuals as recently as 2010.
- According to the report the wealth of the richest 62 people has risen by 44% in the five years since 2010 – that’s an increase of more than half a trillion dollars ($542bn), to $1.76 trillion.
- According to Oxfam 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(99%) 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 1% every year.
- The name Oxfam comes from the Oxford Committee for Famine Relief, founded in Britain in 1942, it has distributed food among affected women and children in the Second World War.
Reference:
http://www.oxfamamerica.org/static/media/files/bp210-economy-one-percent-tax-havens-180116-en_0.pdf
http://www.oxfamamerica.org/explore/stories/62-people-own-as-much-as-half-of-the-world/