With Harper and his corporate friends in charge of the economy, Canada’s 86 wealthiest individuals and families have accumulated as much wealth as the poorest 11.4 million. This is unacceptable. Harper’s government and its policy of neo-liberal globalization is based on paying the rich. At the same time, Canada is an integral part of the imperialist system of states; the rich elite from this country are part of a global ruling elite that do whatever suits their narrow private interests regardless of the consequences. The aim of global monopolies is to consolidate power and wealth in the hands of a few. The glaring inequality on the world scale is graphically illustrated below.
A new report from Credit Suisse has shown that the world’s richest one per cent now holds half of the planet’s wealth – while the bottom half owns less than one per cent.
The Global Wealth Report found that to be counted among the world’s wealthiest ten per cent, an individual would need to possess $68,800 (£44,500), while those in the top one per cent would need (£492,000).
Chart via Statista
The report, which examined wealth in more than 200 countries, also revealed that for the first time, the middle class in China – with 109 million adults – became the world’s largest, overtaking the US which has 92 million adults in the same category.
Read the Independent’s full report on the Credit Suisse Global Wealth Report here