Even in an empty Delhi metro coach, Indians make their maids sit on the floor

By 23rd January 2018 0 Comments


With rising prosperity, more double-income couples and nuclear families, the need for domestic workers is increasing – and so is the class divide.
-Shekhar Gupta

Photo courtesy : The Print

Last year, one billionaire was created every two days. This is the biggest increase in the number of billionaires in history and a whopping 82% of all of the wealth generated between the second quarter of 2016 and the corresponding period last year went to the top 1%, according to the latest survey by Oxfam.

There are now 2,043 dollar billionaires worldwide. The wealth of this group increased by $762 billion in just 12 months and Oxfam has calculated that approximately two-thirds of that wealth is the product of inheritance, monopoly and cronyism.

On the flip side, while the poor aren’t getting poorer, the bottom 50% of the global population bagged less than 1% of total wealth in 2016-2017. Given that the global adult population is estimated to be 5 billion and children (under 18) are pegged at 2.5 billion-for its analysis Oxfam conservatively assumed that the children are distributed equally across the adult distribution and share the wealth of their parents/guardians-the bottom 50% represents 3.7 billion people.

Must Read:
Article : Even in an empty Delhi metro coach, middle-class Indians make their maids sit on the floor

Even in an empty Delhi metro coach, middle-class Indians make their maids sit on the floor




Tags: , ,
Posted in: National

Privacy Preference Center

Necessary

Advertising

Analytics

Other