Culture

/THE RULES - Global Wealth Inequality - explained in 3 mins

What you never knew you never knew

For more info go to www.therules.org The figure we use for total global household wealth, $223 trillion, comes from the 2012 Credit Suisse Global Wealth Report. The figures we use for how the world’s wealth is divided by population cohort also come from the 2012 Credit Suisse Global Wealth Report, as discussed here. The video says that the richest 300 people on earth have more wealth than the poorest 3 billion. We chose those numbers because it makes for a clear and memorable comparison, but in truth the situation is even worse: the richest 200 people have about $2.7 trillion, which is more than the poorest 3.5 billion people, who have only $2.2 trillion combined. The claim that inequality between poor countries and rich countries has been increasing and now stands at about 1:80 comes from the United Nations Development Program’s 1999 Human Development Report. The amount of aid that rich countries give to developing countries each year, about $130 billion, comes from the OECD Aid Statistics report. The claim that corporations steal more than $900 billion from developing countries each year through tax avoidance comes from a 2012 report from Global Financial Integrity. The claim that developing countries pay $600 billion each year in debt service comes from the World Bank’sInternational Debt Statistics databank. The claim that developing countries lose about $500 billion each year as a consequence of trade rules imposed by rich countries (through the International Monetary Fund and the World Bank) comes from Robert Pollin’s 2003 book Contours of Descent. Another important fact that the video doesn’t include has to do with land grabs. Fred Pearce’s new book,The Land Grabbers, shows that that land exceeding the size of Western Europe has been grabbed from developing countries by rich-country corporations in the past decade alone. If we could quantify the value of that land we could have added a huge amount to the $2 trillion stack of cash that the video depicts flowing from poor to rich. It’s also worth drawing attention to a recent Oxfam report that shows that “The richest 1% has increased its income by 60% in the last 20 years, with the financial crisis accelerating rather than slowing the process.”

  • A Guardian article about our campaign on the City of London: here
  • An article by Greenpeace examining our Unga Tax campaign in Nairobi: here
  • An article on our World Bank campaign: here
  • An article on our /Crowdfunding tool: here
  • An article on our last workshop in Nairobi: here
  • An analysis of World Bank policy: here
  • Our latest e-book, the One Party Planet: here
  • 2015-08-13 12.05.22 pm
Related articles
Nature
His Epic Message Will Make You Want to Save the World

His Epic Message Will Make You Want to Save the World

Winner of the Film4Climate competition, spoken word artist Prince Ea makes a powerful case for protecting the planet and challenges the human race to create a sustainable future

Culture
Rock n’ roll sound healer Tallulah Rendall brings you Liminal

Rock n’ roll sound healer Tallulah Rendall brings you Liminal

Vitalising mix of sonic vibrations, live performance and ecstatic dance

Culture
Lil' Krill - Sucked Up

Lil' Krill - Sucked Up

Microscopic, underwater rap video keeps it trill - we can live without krill. The oceans can’t.