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This is the same Oxfam that published a report almost a year ago claiming that the 5 richest people in earth got richer than anyone else by comparing their asse
by tirant 2y ago
This is the same Oxfam that published a report almost a year ago claiming that the 5 richest people in earth got richer than anyone else by comparing their assets value from March 18th 2020 (rock bottom level during Pandemic) to the top in November 30th 2023 (Stock Market ATH) and shifting those 5 people in 2020 to the newest 5 richest in 2023. On top of that, that cherry-picked growth was compared against a different period of time for the 60% poorest (from late 2019, before the Pandemic with stock markets still unaffected, to December 2022, with markets impacted by the hike in interest rates.)
They started around 12 years ago with reports about income inequality (Chapter 1, 2012 report) and why it was a problem despite poverty rates plummeting. Even though that was also wrong as shown by Milanovic’s Elephant (https://en.m.wikipedia.org/wiki/The_Elephant_Curve https://en.m.wikipedia.org/wiki/The_Elephant_Curve) or the Income Gini index after the year 2010.
Obviously the couldn’t keep the claim and they shifted towards a new claim: wealth inequality vs income inequality. So in 2016 they shifter their claim in their report.
But in 2022 wealth inequality started to shrink, including the reduction of global millionaires as published by Credit Suisse/UBS (Oxfam source) so they published a completely dishonest report, the one I mention in my first paragraph.
Oxfam has clearly anti-capitalist goals and drives them by publishing extremely sensationalistic and completely manipulated reports to shape public opinion.
That’s why I would advise anyone to read the report directly and to be extremely cautious with their claims.
I won’t comment on this report yet as I need time to do a proper reading, but never take Oxfam headlines as real data, they are always extremely biased.