One in the pink, two in the sink
South Koreans enjoy Internet access today at speeds that run well over 100 times faster what most Americans can get — at half the monthly cost Americans typically pay. What do we have that South Koreans don’t? We have high-tech corporate execs routinely pulling in mega millions for delivering second-rate technology. The latest sign of the immense fortunes our high-tech titans are raking in: News reports last week revealed the late November sale of a Silicon Valley home for $117.5 million, the second-highest price ever paid for a U.S. residence. […]
The world’s wealthy once again gathered in the Alps last week to discuss how to ’solve’ the world’s problems. Their wealth, suggests a top global anti-poverty outfit, has become the problem.
Apologists for inequality have a standard retort to anyone who calls for a more equal distribution of the world’s treasure. If you took all the wealth of the wealthy and divvied it up equally among the poor, the retort goes, no one would gain nearly enough to accomplish much of anything.
Oxfam International, one of the world’s premiere anti-poverty charitable organizations, would beg to differ. The world’s top 100 billionaires now hold so much wealth, says a new Oxfam report, that just the increase in their net worth last year would be “enough to make extreme poverty history four times over.”
