It’s time to demolish the myth of trickle-down economics – World Economic Forum

The World Economic Forum recently reported that:

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During the era of globalization, average annual income of the poorest 10% of people has risen by less than $3 each year.

The gap between rich and poor is reaching new extremes. Credit Suisse recently revealed that the richest 1% have now accumulated more wealth than the rest of the world put together.

 

This occurred a year earlier than Oxfam’s much publicized prediction ahead of last year’s World Economic Forum. Meanwhile, the wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years. This is just the latest evidence that today we live in a world with levels of inequality we may not have seen for over a century.

Source: It’s time to demolish the myth of trickle-down economics | World Economic Forum

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