Winnie Byanyima: Obscene Wealth, So Few
on Wednesday, January 25, 2017Winnie Byanyima Money Quote saying in an Oxfam report that just eight men have more wealth than those in poverty representing half the worlds population. Winnie Byanyima said:
“It is obscene for so much wealth to be in the hands of so few people when 1 in 10 people live on less than $2 a day, Inequality is trapping hundreds of millions in poverty; it is fracturing our societies and undermining democracy” — Winnie Byanyima
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This quote seems to be criticizing the high level of economic inequality in the world where a small minority hold a disproportionate amount of total wealth.
It points out that it is “obscene” or unacceptable that so much wealth is concentrated in the hands of so few people, when at the same time 1 in 10 people live on less than $2 a day in poverty.
The quote argues that this level of inequality is “trapping hundreds of millions in poverty”, implying that unequal distribution of resources contributes to the entrenchment of poverty.
It further claims that inequality is “fracturing our societies and undermining democracy”. This suggests that large wealth gaps can divide societies and weaken political systems where wealth can be used to influence policies and elections.
Overall, the speaker is expressing the view that the current global level of economic inequality, where a small percentage hold most of the wealth while many live in extreme poverty, is morally problematic and has negative social and political consequences for societies around the world.