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"Oxfam estimates that the richest 85 people in the world own half of all wealth." This is not what Oxfam's estimates say, it contradicts them. Here is the origi
by eamsen 12y ago
"Oxfam estimates that the richest 85 people in the world own half of all wealth."
This is not what Oxfam's estimates say, it contradicts them. Here is the original quote:
"The bottom half of the world’s population owns the same as the richest 85 people in the world."
- xux 12y agoWhat point are you trying to make? Those two statements are the same.
- fchollet 12y agoThey are not. The bottom 50% of people owns a fraction much smaller than 1/2 of all available wealth. What Oxfam is saying is: if you rank people by wealth on the x axis then plot their wealth of the y axis, the integral (sum, or area under the curve) of the function on the first half of the graph is equal to the integral on the last 85 points. Try actually drawing it, it might help you understand.
- wickedlogic 12y agoNo they are not. If the bottom half owns the same as the top 85, and the top 85 own 30%....
- bane 12y agoThere's a large group of people between the bottom half and the top 85 people that hold quite a bit of wealth.
- CapitalistCartr 12y agoThe bottom half of the World's population not only don't have a representative half of the World's wealth, they basically own diddly squat compared to their numbers.
- gipp 12y agoThat is absolutely not the same. One is referring to half the wealth in the world, one is referring to the wealth owned by the poorest half of the world (which is strictly less than half by definition, and in this case far less than half). Doesn't make the fact not-disgusting, just slightly less so. EDIT: Wow, 5 corrections in two minutes.
- deleted 12y ago[deleted]
- Paradigma11 12y agoThis statistic is completely inflammatory and bullshit anyway. Why? It uses netto worth so for example academics with student loans and good social security or the bancrupt industrial tycoon are worse off than the indian farmer with his small farm. see also: http://www.bbc.com/news/magazine-26613682 http://www.bbc.com/news/magazine-26613682