In the News

2022 Oxfam Inequality Report - Wealth of world's 10 richest men doubled in pandemic

Graham Watson

18th January 2022

Oxfam notes that whilst the rest of the world saw incomes fall during the pandemic, the wealthiest 10 ten men have seen their wealth increase by $1bn per day.

A new was billionaire created every 26 hours this pandemic. As a result, they are calling for a 99% windfall tax on their capital gains.

Of course, such an eye-catching policy initiative is designed to garner headlines, but it isn't realistic.

However, it makes the point - again - that we aren't, and haven't, all been in this together.

It seems remarkable that the richest ten individuals are six times wealthier than the bottom 40% of the global population: market success or market failure?

Read: 5 shocking facts about extreme global inequality and how to even it up

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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