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Catholic World News

New report highlights rising economic inequality

January 20, 2015

If current trends continue, the wealthiest 1% of the world’s population will have more combined wealth than the other 99% in 2016, according to a report highlighted by the Vatican newspaper in its January 19-20 edition.

The anti-poverty organization Oxfam International found that the wealthiest 1% of the world’s population had 44% of the world’s combined wealth in 2009 and 48% in 2014.

The report also found that the bottom 80% of the world’s population lives on an average of $3.85 per day and the 1 billion people live on less than $1.25 per day.

 
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  • Posted by: seewig - Jan. 20, 2015 7:26 PM ET USA

    Oxfam is just using the progressive (socialist-communist) statement without any data except their own. I am tired of their constant complaints about the evil "rich" 1%, which is a misnomer with little truth and value. This is what they say they are: "We are secular, open-minded and pluralistic. We welcome all beliefs that advance human rights." Thank you. Isn't that clear of who they are? What are these "human rights"? What we don't need is for the catholic Church to trumpet their agenda.