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An Economy for 99 Percent

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Shahabuddin khaled chowdhury (২০১৮-০২-২১ ০২:১৮:৪৬)

Oxfam International, an economic research organization based in the United Kingdom, established in the year 1995, had been working on researches for the removal of global poverty and all other economic injustice since its inception. Before the session of world Economic Forum held from 23rd to 26th January-2017 at Davos, Switzerland, Oxfam International Published a report titled “An Economy of 99 Percent”. In that report a horrible and almost unbelievable picture of income disparity in the world was presented. The disparity of income that existed sometimes ago increased more and beyond imagination. Oxfam has found out three reasons, after comprehensive study of this alarming situation in the world’s income disparity, The following reasons were identified for this situation (a) super rich manages a large amount of tax-evasion with the direct involvement of the administration of the respective country (b) unbelievable low wages of the laborers (c) tremendous influence of the super rich on the administration and political leadership. According to Oxfam, new statistics of the global distribution of wealth, especially in developing countries like India that the poorest half of the world population owns less than previously calculated. Last year the total wealth owned by the poorest half of world’s population was equal to the wealth owned by only 62 super rich. According to Oxfam presently only super rich own as much wealth as the poorest 3.6 billion people or half of the world’s total population. In India, The wealth disparity is the widest in comparison with other countries of the world. As India’s economy is an emerging one with a relatively high growth rate , so the prevailing situation is of great concern, Oxfam survey of the last year confirmed the richest 1 percent people in India owned 58 percent of the total wealth of the country whereas the global average is 50 percent. According to current year’s report 73 percent of the total wealth produced in the last year owned by the richest 1 percent according to executive director of Oxfam international , Winnie Byaninma , one in every 10 people in the world is to survive on less than us $2 a day . Millions of people of the world are facing poverty because of constant disparity in income resulting in serious division in societies making a mockery of democracy and rule of law resulting in a serious anger against the present world order. Disillusion is prevailing in every nook and corner of the world against globalization. This situation prompted majority voters of United Kingdom to vote in favor of Brexit. Donald Trump could be elected the president of the United States using “American first” slogan in 2016. Europe was the lowest in income inequality with 10 percent of the population enjoying 37 percent of Europe’s total wealth. But the Middle East was the highest in that year in income inequality, 10 percent enjoying 61 percent of the wealth. Even in china where millions of people sacrificed their lives under the leadership of Mao for establishing proletariat leadership, 41 percent wealth is controlled by the super rich. But Chinese president Xi Jim Ping is promised-bound to eliminate abject poverty in 2020.

However, the reasons shown in Oxfam’s long report for horrendous inequality of income prevailing in the world economy as a whole cannot be denied. But the fundamental factor behind the creation of this horrible situation is evaded. From the very beginning of 1970s a class of ambitious businessmen began involving themselves in politics in their respective countries with the help of a class of dis-honest and disgruntled politicians.
The dishonest politicians left no stone unturned to establish this business class in politics. So, now a days politics is not a used as a weapon to serve the people; It is used as a weapon of earning money. This new-comers in political arena, started to use politics as a weapon of business. In this situation, those who were dedicated and honest preferred leaving politics once for all.

George Washington was the first founding father of American independence. He was also commander-in-chief of the Army. In 1782 his army proposed him to be crowned as the King of the United States. He wrote in May 1782 to Colonel Nicolas, “Let me conjure you then, if you have any regard for your country, respect for me, to banish these thoughts from your mind and never communicate as from yourself or anyone else, a sentiment of like nature.”

I request the readers to imagine what will be the reaction of present American President Donald Trump if similar proposal is made to him by the American army! Lastly Oxfam made some suggestion, the world leaders were requested by Oxfam to take immediate action to break vicious circle of climate change, forced poverty and terrorism, the world could sooner or later be caught in a web of conflicts, which end the gains of globalization.

But while making suggestion to improve the situation Oxfam has conveniently or inconveniently forgotten that present situation is the creation of a nexus of politicians and business magnets. Presently the parliaments of a large number of countries in the world are controlled by the majority of super-rich or their representatives.

However, exploitation of the world by the super-rich reached such a level that providential punishment is not far off. After all, “God who maketh us, Loveth us all”.