Thursday, July 24, 2008

Right to Protection

"According to the World Institute for Development Economics Research of the United Nations 1% of the richest adults in the world own 40% of the world’s wealth – together it totals $125 trillion globally. The richest 10% of adults accounted for 85% of the world’s total global assets (those in the financial services & internet sectors enjoying super rich status). Half of the world’s adult population barely owned 1% of global wealth.More than a third of the world’s rich lived in the US.

Taking the example of disparity further is seafood that comes in from low-income country waters which are ultimately consumed by almost 85% of rich nations (only 15% are consumed by the world’s poor)

"The excess consumption by the world's obese costs $20 billion annually, to which must be added indirect costs of $100 billion resulting from premature death and related diseases,"

* To satisfy the world's sanitation and food requirements would cost only US$13 billion- what the people of the United States and the European Union spend on perfume each year.

* The assets of the world's three richest men are more than the combined GNP of all the least developed countries on the planet."

Read this excellent article by Shenali Waduge in the Asian Tribune. After listing very interesting stats, there is a very decent analysis, which ends up requesting a Right to Protection of the poor from the rich.

1 comment:

NewAmericanParadigm said...

Rami, this is very real in the US. The amount of wealth transfered as a result of foreclosures is staggering. People were misled or better yet lied by the mortgage brokers and lenders and were fantasizing about becoming rich through real estate. What they fail to realize is that mortgages must be serviced and are accountable only to investors not borrowers.

TSZ from Miami.