Monday, January 21, 2019

26 Billionaires = 3.8 Billion People

In 2018, 26 billionaires owned the same amount of wealth as the poorest 3.8 billion people, worldwide, according to a study by Oxfam, an anti-poverty non-profit organization. In 2017, the number of billionaires was 43, so the trajectory of wealth distribution was one of continued concentration.[1] Since the 2008 financial crisis, the number of billionaires doubled by 2019 whereas the poorest half of the world saw its wealth decline by 11 percent. The trajectory being clear, the questions can be said to be why? and  how will it turn out? In this essay, I briefly attend to the first question by highlighting the intensifying contributions of enabling systems. 

The full essay is at "26 = 3.8 Billion People."


1. Laura Paddison, “26 Billionaires Own the Same Wealth as the Poorest 3.8 Billion People,” The Huffington Post, January 20, 2019.