Oxfam says; “Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, …” More…

But did you know; “Your average milkman has more wealth than the world’s poorest 100 million people. Doesn’t that show how unfair the world is? Or given that the poorest 100 million will have negative assets, doesn’t it just show how easily statistics can be manipulated for Oxfam press releases?…” More…

Put another way; “Times of stability, peace, and growth typically lead to widening inequality, but they often see rapid improvements for the poor too, as they are doing now. The biggest falls in English inequality were the Black Death, and First and Second World Wars. We just saw UK inequality fall to a 30-year low, but this was driven by the recession hitting growth at the top, not a boost to growth at the bottom. Usually, economic growth is win-win.” More…

I think Johan Norberg puts it in perspective in the following video. Poverty is the problem, not wealth.

Capitalism and its positive effects for the world’s poor has been remarkable and it can make poverty history. In fact it helps make an economy for the 99% Oxfam wants. More…

Hat tip to Professor Nigel Ashford for some links about this discussion on his Facebook Page.