Why we must reduce the extreme wealth concentration and the extreme poverty

The extreme wealth and the extreme poverty are polarizing the world as if we are bipolar patients of economy. This is no longer a question of capitalism, free market, or socialism. If you see the critical data provided below, these are – as Oxfam report said – “extreme wealth is unethical, economically inefficient, politically corrosive, socially divisive and environmentally destructive.”

 

This article is a sequel to To End The Poverty.

 

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This site is devoted to provide unconventional alternative solutions to end the currently destructive process we are in and reverse the global economy to much more equal state. Before we suggest our solution, let’s take some glimpses as to how bad the situation is. A good doctor needs to have a good diagnosis first.

 

According to the reports by UBS and Wealth-X in November 2013:

  1. the combined net worth of the world’s billionaires has doubled since 2009 ( according to a report published in early November, 2013, by UBS and Wealth-X, a consultancy that tracks super-rich individuals.)
  2. As of late 2013, the collective wealth of the world’s billionaires reached $6.5 trillion, which is nearly as large as the gross domestic product of China, the world’s second-largest economy.
  3. The vast enrichment in favor of the top social layer has been driven not by accident, but  by surging stock markets, fueled by the “easy money” and QE ( which is basically money-printing operations) of the US Federal Reserve and other central banks. As time elapses, this process is intensifying.
  4. The wealth report shows the parasitic growth of the financial sector throughout the world economy. 17% of billionaires got their wealth from the finance, banking, and investment sectors, unlike any other, while only 8% are associated with manufacturing.
  5. “the world’s billionaires are congregated around major financial cities such as New York City, which has 96 billionaires, followed by Hong Kong with 75, Moscow with 74, and London with 67. If the wealth of New York City’s billionaires were divided up among the city’s 1.7 million poor residents, they would each get $170,000”

 

In the mean while, the poverty-stricken countries in the southern hemisphere are struggling as their wages per hour are dozens of times lower than the those in the developed world in the Northern hemisphere.

  1. The world’s 100 richest people earned a stunning total of $240 billion in 2012 – enough money to end extreme poverty worldwide four times over, Oxfam has revealed, adding that the global economic crisis is further enriching the super-rich.
  2. while the world’s 100 richest people earned $240 billion last year, people in ”extreme poverty” lived on less than $1.25 a day” according to Oxfam report 2012.

 

 

Oxfam is a leading international philanthropy organization. Its new report, ‘The Cost of Inequality: How Wealth and Income Extremes Hurt us All,’ argued that the extreme concentration of wealth hinders the world’s ability to reduce poverty.

The report was published before the World Economic Forum in Davos 2012, and called on world leaders to “end extreme wealth by 2025, and reverse the rapid increase in inequality seen in the majority of countries in the last 20 years.”
The following is from an RT article.

“Oxfam’s report argues that extreme wealth is unethical, economically inefficient, politically corrosive, socially divisive and environmentally destructive.

 

The report proposes a new global deal to world leaders to curb extreme poverty to 1990s levels by:

– closing tax havens, yielding $189bn in additional tax revenues

– reversing regressive forms of taxation

– introducing a global minimum corporation tax rate

– boosting wages proportional to capital returns

– increasing investment in free public services

The problem is a global one”.

Oxfam said: 

  • ”In the UK inequality is rapidly returning to levels not seen since the time of Charles Dickens.
  • In China the top 10 percent now take home nearly 60 percent of the income.
  • Chinese inequality levels are now similar to those in South Africa, which is now the most unequal country on Earth and significantly more [inequality] than at the end of apartheid.”

 

So, how do we effectively deal with the economic system that is found to be very difficult to reverse the process? We have a good solution, and we encourage you to pay attention to what we try to do.

The principal USL plans for the world: provides the realistic and effective solutions that make everyone happy by the following strategies:

  1. STEP 1-1: the trademark record-speed capability of USL (which massively boosts the learning process of STEM subjects in the participating countries) will be the trigger.
  2. STEP 1-2: to boost the human capitals of the participating countries,
  3. STEP 2: this will be forward boosting the GDPs of the countries (by Trillions of Dollars) that collaborate with USL programs
  4. STEP 3: the GDP surplus of the USL-participating countries operate under the constraints that the participating governments should spend 20-30% of the their surplus gains of GDPs for the critical causes that the mankind currently faces.

 

For a more detailed blueprints of the USL Go Global’s initiative to end the extreme poverty (as well as other major causes that USL Go Global is trying to tackle), CLICK this link.

For slightly more detailed plans of USL Go Gloobal, click here. 

If this works, even if partially, this can end the extreme poverty within a year, not half + century.

 

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© Copyright 2013 admin USL, All rights Reserved. Written For: USL1: to resolve the entire top 5 world crises (of Transition to Renewable Energy, Environment, Sovereign Debts, Population growth, and Poverty) whose total costs will be 3-8x of the current world GDP in 15-25 years using the the world´s surplus GDP induced by USL1.0 (2.5x-10x-40x in 10-20-30 yrs.) instead of collapsing with them (with the UN, gov & NGOs)