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5/12/2019  
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Rich men ... poor men

Social Economy

A study on the worlds wealth published by Banco Credit Suisse confirms a well known fact: despite the crisis, or perhaps, according to the number of large fortunes, the gap between the economic elites and the doomed to survive in inhuman conditions increases.
Financial inclusion 16/10/2013 Send to a friend
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A single fact is enough to show the shame we face: 0.7% of the global population accounts 41% of the total wealth. Considering the wealth parameter, the population pyramid has a wide base, occupy 68% of the adult population worldwide, mainly by Africa and India, continents accounting for just 3% of the wealth. At the top of the pyramid, we can find 87% of assets between 1 and 5 million, of which 42% belongs to the United States, known not only for its dynamism and opportunities to reach success, but also for having tax levels well below other countries with similar levels of economic development .

Numerous factors - and not only the so-called aggressive tax planning or tax avoidance through tax havens explain the growing expansion of those differences (the devastating multinationals in the most vulnerable economies and wage devaluation of globalization, the emergence of speculative financial products, the digital gap, etc.) .

But in my opinion it is more dangerous to leave the "economic governance" in hands of the most powerful lobbyists, whose influence frightened politicians (if they don´t accomplish their major interests) 

That is why often we face a growing dichotomy: on one hand, the regulations progress (just take a look at the conclusions of the last G -20 ), but on the other hand, their implementation sometimes deteriorates them. Governments allow "windows" to help the "better armed" ones to escape from ineffective regulations. For those who work in an European Union institutions, this can cause great distress because it proofs that a great part of our efforts end up being dismissed by highly skilled technicians how serve for major economic powers, sometimes less visible but highly effective in their daily actions.

Unfortunately, the best antidote is the public response, at least as the European Union languishes. The confidence loss and the growing disaffection with institutions alienates citizen far away from the the social and political participation. At the end of the day, only the active ones move foward, but often creating their own microcosm or islets, democratic spaces, hardly extended between the majority of the population.

I refer, specifically, to some very encouraging experiences in the context of social economy, whose common denominator is the sustainability (economic, social and environmental). As an example, we find collaborative, cooperative and fair trade consumption. They are small hopes that should point out to a real change, but today it seems difficult for these models to cope with the increasing powerful rich people .

Carlos Trias
Member of the European Economic and Social Committee and Director of the Consumers Organization ASGECO

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