As the billionaires gather at Davos, it’s worth examining what’s become of their dreams

<https://theconversation.com/as-the-billionaires-gather-at-davos-its-worth-examining-whats-become-of-their-dreams-220876>

"Gathering for their annual World Economic Forum at Davos in Switzerland this
week, the world’s business and political elite will be digesting some
unpleasant reading courtesy of the aid agency Oxfam International.

Oxfam’s annual report on global inequality released this morning shows the
wealth of the world’s five richest billionaires has more than doubled since the
start of the decade, while 60% of humanity has grown poorer.

Among the findings of the report entitled Inequality Inc are that

* billionaires own US$3 trillion more than they did three years ago, meaning
their wealth has grown at three times the rate of inflation

* even in Australia, the wealth of billionaires has climbed 70%

* five billion other people can’t afford what they could three years ago.

Progress in Africa, which seemed promising for much of this century, has
stalled since COVID.

And large parts of the populations in wealthy countries, feeling left behind,
have been lured by the appeal of rightwing populism – ironically, largely
promoted by billionaires and their advocates."

Cheers,
       *** Xanni ***
--
mailto:xanni@xanadu.net               Andrew Pam
http://xanadu.com.au/                 Chief Scientist, Xanadu
https://glasswings.com.au/            Partner, Glass Wings
https://sericyb.com.au/               Manager, Serious Cybernetics