Vienna (dpa) – The number of billionaires doubled to 2,153 in the last decade as a vastly unequal economic system kept women at the bottom of the wealth pyramid, Britain-based Oxfam charity said on Monday…

The world’s billionaires have more wealth than the 4.6 billion people who make up 60 per cent of the global population, according to the report that was published one day before country and corporate leaders were set to launch their annual World Economic Forum in the Swiss mountain village of Davos.

“This great divide is based on a flawed and sexist economic system,” Oxfam charged, noting that the world’s 22 richest men own more than all the women living in Africa.

Women still suffering

Women and girls spend billions of unpaid hours each day cooking, cleaning and caring for relatives, which keeps many of them from getting educated or finding jobs, according to Oxfam.

The value of this care work amounts to three times the size of the global technology industry, the anti-poverty organization said.

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By failing to raise adequate taxes from the world’s richest people and corporations, governments are forgoing funds that could be used to lift women from poverty, Oxfam said.

Getting the world’s richest 1 per cent to pay 0.5 per cent more tax on their wealth over the next decade would be enough to create 117 million jobs in fields such as care for elderly and children, education and health, the report proposed.

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Author: ANA Newswire