- Capitalism and Alternatives -
Posted by: Red Deathy ( Socialist Party, UK ) on August 02, 1999 at 19:43:54:
Some intersting things I have learnt...
They own them all Eighty-two percent of corporate stock in America is held by the wealthiest 10 percent of families. But over half those shares, the controlling stake, is owned by the richest one percent alone. The membership of this One Per Cent Club has expertly diversified portfolios and trusts. They own GM and Ford, Monsanto and
its "competitor" Dow Chemical. Ergo, they don't care which horse wins the race because they own the whole race track. So what does the Wealthy One Per Cent want? Answer: more wealth. Where will they get it? As with a tube of toothpaste, they are squeezing from the bottom. Observer, 6 June.
Devastating global evidence of our statement is contained in the latest UN Human Development Report for 1998. We quote only a few facts from the report:
225 individuals own wealth equivalent to 47 percent of the world's population
The wealth of just three of these individuals exceeds the Gross National Product of the world's 47 poorest nations
For 4 percent of the combined income of the three wealthiest people we
could provide universal access to basic education for all, basic health care for all, adequate food for all and safe water and sanitation for all.
The wealthiest three people in the world continue to increase their fortunes. Between them, Bill Gates, Warren Buffet and Paul Allen have assets (according to Forbes magazine) of $156 billion. This figure is greater than the combined GNP of the world's 43 poorest countries—of which some 600 million inhabitants can be found in sub-Saharan Africa. Moreover, some 80 countries now have a lowerper-capita income than when the report first appeared in 1989, and in spite of all the wise UN recommendations put forward since then.
All found from The August Socialist Standard