Eight billionaires own as much wealth as half the planet – the real face of capitalism

Eight billionaires own as much wealth as half the planet – the real face of capitalism

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Poster produced by the Socialist Party in Ireland

A report published by Oxfam today has once again laid bare the growing gap between the richest and poorest people in the world. Just eight billionaires own the same amount as the poorest half of the world’s population – that’s 3.6 billion people.

Even the capitalists are starting to realise that growing inequality represents a threat to their system. The World Economic Forum’s Global Risk Report for 2017 placed inequality at the top of the list of threats facing society. But despite this realisation, under capitalism the wealth of the super-rich and the gap between “them and us” will inevitably continue to grow. Even during the financial crisis Britain’s billionaires doubled their wealth between 2009 and 2015!

Oxfam CEO Mark Goldring says that this shocking inequality shows that “our economics is broken”, and argued for “a more human economy”. But the system isn’t broken – capitalism is designed to make the rich richer, and it’s doing that perfectly. This report lays out the problem clearly – but its proposed reforms don’t address the fundamental issue of who controls the wealth in society. Workers create the wealth in society, but the super-rich keep it – to change this system we need to take the wealth off the 1%, and fight for a socialist system that will mean we can plan the world’s resources for the majority of people!

Are you angry at inequality? Do you want to join us in fighting the system that creates it? Fill in the form below!



It’s Fat Cat Wednesday!

It’s Fat Cat Wednesday!

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A Fat Cat Capitalist

Today has been named “Fat Cat Wednesday” by the High Pay Centre, who say that by midday today chief executives will already have been paid more than an “average” UK worker.

This highlights the gross inequality of wages in the UK. In fact for many workers the contrast between their pay and their bosses is even starker – the High Pay Centre based this calculation on an average wage of £28,200, a wage that people on zero-hour contracts and in low paid jobs can only dream of.

It is a disgrace that in less than two days super-rich bosses have made more than millions of UK workers – and this kind of inequality will continue and get worse under capitalism. The Socialist Party fights for decent jobs and a £10 an hour minimum wage – and we also fight to replace this obscene capitalist system with a socialist society, for the millions not the millionaires.

Do you want to fight the fat cats? Fill in the form below!