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Inequality the root of poverty

by pj
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Published on: February 25, 2014

As part of the MOOC Critical thinking we were asked to create an argument.  Here is mine:

Poverty is at epidemic proportions in a world where 30,000 people in the US have as much income as 2,800 million in the rest of the world Thomas Pogge Economist said in his lecture for the RSA http://www.thersa.org/events/audio-and-past-events/2012/ending-poverty.

 

This has led to an unbelievable number of deaths

poverty2

Pogge argues that much of today’s severe poverty constitutes a human rights violation committed through supranational rule design.

The world’s 100 richest people earned a stunning total of $240 billion in 2012 – enough money to end extreme poverty worldwide four times over, Oxfam has revealed, adding that the global economic crisis is further enriching the super-rich.
“The richest 1 percent has increased its income by 60 percent in the last 20 years with the financial crisis, accelerating rather than slowing the process,” while the income of the top 0.01 percent has seen even greater growth, a new Oxfam report said. (Summary Here)

For example, the luxury goods market has seen double-digit growth every year since the crisis hit, the report stated. And while the world’s 100 richest people earned $240 billion last year, people in “extreme poverty” lived on less than $1.25 a day.

If the growth in income of the super rich had been evenly distributed over the past 8 years poverty could be eradicated. (Pogge). It is time for there to be a redistribution of wealth so that poverty genocide can be eradicated.

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