WSMoreOrLess: Oxfam and Wealth Inequality
More or Less: Behind the Stats
You may have seen the claim that ‘62 people now own as much wealth as half of the world’s population’. You may also have seen headlines that suggest that 1% of the world’s population now own more than the 99% put together. This is the latest iteration of Oxfam’s annual report looking at global inequality. They say that the overall the world may be getting richer but that most of the wealth is concentrated in the hands of fewer and fewer people. But is this really telling us what we think it’s telling us? Tim Harford asks economics writer Felix Salmon and development expert Charles Kenny.
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