The Richest Has More Wealth Than 60% Of World Population
Oxfam has said the world’s richest people, about 2,153 of them, control more wealth than the poorest 4.6 billion in 2019, adding that underpaid work by women and girls contribute three times more to global economy each year than the technology industry.
The charity organisation disclosed this in its “Time to Care” report which was released in its Nairobi-headquarters ahead of the annual World Economic Forum of political and business leaders in Davos, Switzerland.
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According to the body, women around the world work 12.5 billion hours combined each day without pay or recognition, unpaid care work by women contributed at least $10.8 trillion a year in value to world economy, which is three times more than tech industry contribution to the world economy.
Amitabh Behar, CEO of Oxfam India, told Reuters in Nairobi that: “It is important for us to underscore that the hidden engine of the economy that we see is really the unpaid care work of women. And that needs to change.”
The organisation stressed the degree of inequality in the global economy by citing the case of an Indian woman Buchu Devi that spends 16 to 17 hours a day doing work like trekking 3 km to fetch water, cooking, getting her children ready for school and working in a poorly paid job.
“And on the one hand you see the billionaires who are all assembling at Davos with their personal planes, personal jets, super rich lifestyles,” he said.
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“This Buchu Devi is not one person. I in India encounter these women on a daily basis, and this is the story across the world. We need to change this, and certainly end this billionaire boom.” Behar said.
He appealed that governments should ensure that the rich pay their taxes, adding that the proceeds should be used to provide amenities such as clean water, healthcare and quality schools.
