World’s 26 richest own same as poorest half of humanity: Oxfam

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A night view shows a congress centre (L), the venue of the upcoming World Economic Forum (WEF) in the Swiss mountain resort of Davos, Switzerland, January 20, 2019. (REUTERS)
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A person passes by a World Economic Forum logo in Davos, Switzerland, January 20, 2019. (REUTERS)
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People are seen in a congress center ahead of the World Economic Forum in Davos, Switzerland, January 20, 2019. (REUTERS)
Updated 21 January 2019

World’s 26 richest own same as poorest half of humanity: Oxfam

  • Oxfam warned that governments were exacerbating inequality by increasingly underfunding public services like health care and education at the same time as they consistently under-tax the wealthy

DAVOS, Switzerland: The world’s 26 richest people own the same wealth as the poorest half of humanity, Oxfam said Monday, urging governments to hike taxes on the wealthy to fight soaring inequality.
A new report from the charity, published ahead of the World Economic Forum in Davos, also found that billionaires around the world saw their combined fortunes grow by $2.5 billion each day in 2018.
The world’s richest man, Amazon CEO Jeff Bezos, saw his fortune increase to $112 billion last year, Oxfam said, pointing out that just one percent of his wealth was the equivalent to the entire health budget of Ethiopia, a country of 105 million people.
The 3.8 billion people at the bottom of the scale meanwhile saw their wealth decline by 11 percent last year, Oxfam said, stressing that the growing gap between rich and poor was undermining the fight against poverty, damaging economies and fueling public anger.
“People across the globe are angry and frustrated,” warned Oxfam executive director Winnie Byanyima in a statement.
The numbers are stark: Between 1980 and 2016, the poorest half of humanity pocketed just 12 cents on each dollar of global income growth, compared with the 27 cents captured by the top one percent, the report found.


Oxfam warned that governments were exacerbating inequality by increasingly underfunding public services like health care and education at the same time as they consistently under-tax the wealthy.
Calls for hiking rates on the wealthy have multiplied amid growing popular outrage in a number of countries over swelling inequality.
In the United States, new congresswoman Alexandria Ocasio-Cortez made headlines earlier this month by proposing to tax the ultra-rich up to 70 percent.
The self-described Democratic Socialist’s proposal came after President Donald Trump’s sweeping tax reforms cut the top rate last year from 39.6 percent to 37 percent.
And in Europe, the “yellow vest” movement that has been rocking France with anti-government protests since November is demanding that President Emmanuel Macron repeal controversial cuts to wealth taxes on high earners.
“The super-rich and corporations are paying lower rates of tax than they have in decades,” the Oxfam report said, pointing out that “the human costs — children without teachers, clinics without medicines — are huge.”
“Piecemeal private services punish poor people and privilege elites,” it said, stressing that every day, some 10,000 people die due to lacking access to affordable health care.
The report, released as the world’s rich, famous and influential began arriving for the plush annual gathering at the luxury Swiss ski resort town, urged governments to “stop the race to the bottom” in taxing rich individuals and big corporations.
Oxfam found that asking the richest to pay just 0.5 percent extra tax on their wealth “could raise more money than it would cost to educate all 262 million children out of school and provide health care that would save the lives of 3.3 million people.”


World’s biggest literature festival kicks off in Jaipur

Updated 23 January 2020

World’s biggest literature festival kicks off in Jaipur

  • Economist and Nobel laureate Abhijit Banerjee will attend the event

JAIPUR: The 13th edition of the Jaipur Literature Festival (JLF) started on Thursday.

 Known as the “greatest literary show on earth,” the five-day event brings to one venue more than 500 speakers of 15 Indian and 35 foreign languages, and over 30 nationalities.

 Among the festival’s participants are Nobel laureates and Pulitzer Prize winners.

 The event has been expanding, with over 400,000 people attending it last year and even more expected to show up this time.  The growing crowd has made the medieval Diggi Palace, which hosts it, look small, and organizers are planning to shift the event to a bigger venue next year.

 Scottish historian and writer William Dalrymple, one of the organizers, said: “The first time we came to the Diggi Palace in 2007, 16 people turned up for the session of which 10 were Japanese tourists who walked out after 10 minutes, as they had come to the wrong place. Things have improved a little since then. We are now formally the largest literature festival in the world.”

 Dalrymple, who has extensively written on medieval India and South Asia, has played a pivotal role in promoting the festival.

 The other two organizers are its director, Sanjoy K. Roy, and writer Namita Gokhale, who along with Dalrymple made the JLF become one of the most sought-after events in India.

 “Why has the literary festival taken off in this country in this extraordinary way? It goes back to the tradition of spoken literature, the celebration of literature orally through the spoken word has deep roots in this country,” Dalrymple said.

 “So the idea that a literary festival is a foreign import is something that can’t be maintained. We’ve tapped into something very deep here. Literature is alive and is loved in India,” he said.

 Inaugurating the festival’s 13th edition, celebrated British mathematician Marcus du Sautoy said: “Every number has its own particular character in the story of mathematics. For me it is 13; 13 is a prime number, an indivisible number, and the JLF is certainly a festival in its prime.”

 The festival this year is taking place amid a raging debate about India’s new citizenship legislation and mass agitation on the issue of preserving the secular fabric of the nation.

 Reflecting on the prevailing mood in the country, Roy, in his opening remarks, said: “We are now faced with a situation where we see a spread of the narrative of hatred. Literature is the one thing that can push back against it and so can be the arts. All of us have a responsibility to do so and this is not the time to be silent anymore.”

 Gokhale said: “Ever since its inception 13 years ago, we at the Jaipur Literary Festival have tried to give a voice to our plural and multilingual culture. We live in a nation which is defined by its diversity, and it is our effort to present a range of perspectives, opinions, and points of view, which together build up a cross-section of current thinking.”

 She added: “We seek mutual respect and understanding in our panels — it is important to us that these often conflicting ideas are respectfully presented and heard. We also resist predictable and self-important all-male panels, and try to ensure that the vital voices of women resonate through all aspects of our programming.”

 One of the attractions of the event this year is the presence of Nobel laureate Abhijit Banerjee, who won the prize in economics last year.

 There are also panel discussions on Kashmir, the Indian constitution and history.

 The prevailing political situation in South Asia is also reflected by the absence of Pakistani. Before, popular Pakistani authors would attend the JLF, but delays in visa issuance and a hostile domestic environment forced the organizers to “desist from extending invitations.”