Oxfam report on growing inequality around the world was released only a few days ago. It captured the worsening inequality that is as disturbing as it is obscene.
Just 8 individuals own the same amount of wealth as half the population of the world (that is 3.6 billion people).
58 % of India's wealth is owned by the richest 1% of Indian population. There are many more disturbing data like these. It is unfortunate that in these worrisome circumstances a WIPRO executive has made an insensitive comment at Davos:
Report from NewYork Times:
Just 8 individuals own the same amount of wealth as half the population of the world (that is 3.6 billion people).
58 % of India's wealth is owned by the richest 1% of Indian population. There are many more disturbing data like these. It is unfortunate that in these worrisome circumstances a WIPRO executive has made an insensitive comment at Davos:
Report from NewYork Times:
| "Amie Tsang |
| People are angry at the economic elite. |
| So the economic elite have gathered in the Swiss Alps to discuss this. |
| And what do they suggest? People who have not benefited from globalization need to try harder to emulate those who have succeeded. |
| “People have to take more ownership of upgrading themselves on a continuous basis,” Abidali Neemuchwala, the chief executive of the information technology and consulting company Wipro, said at one event. |
| Little discussed ideas: bolstering the power of workers to bargain for better wages and redistributing wealth from the top to the bottom. |
| “That agenda is anathema to a lot of Davos men and women,” said Joseph E. Stiglitz, a Nobel laureate economist and author of numerous books on globalization and economic inequality. |
| If that remains the case, the global populism insurrection may continue apace." |
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