Jakarta, CNBC Indonesia – Oxfam's 2024 annual report increasingly shows that world inequality is getting worse. Where the wealth of a few billionaires increases while billions of earth's citizens fall into poverty.
Since 2020, for example, the net worth of the world's five richest people has skyrocketed 114% with combined assets reaching US$ 869 billion or Rp. 13.59 quadrillion. Those whose wealth skyrocketed include:
- Elon Musk, jumped 737% to US$ 245.5 billion.
- Bernard Arnault, rose 111% to US$ 191.3 billion.
- Jeff Bezoz, rose 24% to US$ 167.4 billion.
- Larry Elizon, rose 107% to US$ 145.5 billion.
- Warren Buffet, rose 48% to US$ 119.2 billion.
However, on the other hand, while their wealth is increasing, Oxfam notes that 5 billion people around the world have fallen into poverty due to inflation, war and the climate crisis. What's worse, the large number of poor people is due to the dishonorable attitudes of the world's richest people.
“By oppressing workers, avoiding taxes, privatizing the country, and fueling climate breakdown, companies drive inequality and act to deliver greater wealth to their wealthy owners,” wrote the report published at the weekend, as published CNN International Wednesday (17/1/2024).
Therefore, Oxfam suggests that the government must radically redistribute the power of billionaires and corporations to the wider community. This is done by intervening to stop monopolies, empowering workers, imposing taxes on company profits, and starting investment in public goods and services.
“A more equal world is possible if governments effectively regulate and rethink the private sector,” he wrote.
Even so, Oxfam's Director of Economic Justice Nabil Ahmed said there were several bright spots amidst increasing inequality. Ahmed said that workers had now begun to mobilize their strength through strikes and agreements to improve working conditions.
Apart from that, the state is also starting to take sides in strengthening workers' rights. “We are in a new Golden Age, but workers, regulators, unions and community organizers are starting to make inroads into it,” Ahmed said.
In the end, this gap can be resolved if public power succeeds in curbing corporate power. So a market is formed that is younger and free from the control of billionaires.
[Gambas:Video CNBC]
(mfa/sef)