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A world divided: Elites descend on Swiss Alps amid rising inequality
Key Excerpts from Article on Website of CNBC/Reuters
Posted: January 25th, 2016
http://www.cnbc.com/2016/01/17/reuters-america-a-world-divid...
Politicians and business leaders gathering in the Swiss Alps this week face an increasingly divided world. Just 62 people ... own as much wealth as the poorest half of the entire world population and the richest 1 percent own more than the other 99 percent put together, anti-poverty charity Oxfam said on Monday. The wealth gap is widening faster than anyone anticipated, with the 1 percent overtaking the rest one year earlier than Oxfam had predicted only a year ago. Rising inequality and a widening trust gap between people and their political leaders are big challenges for the global elite as they converge on Davos for the annual World Economic Forum, which runs from Jan. 20 to 23. Edelman's annual "Trust Barometer" survey shows a record gap this year in trust between the informed publics and mass populations in many countries, driven by income inequality and divergent expectations of the future. The gap is the largest in the United States, followed by the UK, France and India. The next wave of technological innovation, dubbed the fourth industrial revolution and a focus of the Davos meeting, threatens further social upheaval as many traditional jobs are lost to robots. "Far from trickling down, income and wealth are instead being sucked upwards at an alarming rate," the report says. It points to a "global spider's web" of tax havens that ensures wealth stays out of reach of ordinary citizens and governments.
Note: Read about the annual Davos forum and other more secretive meetings where global elites make decisions with far-reaching implications. For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
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