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Wealth and Income Inequalities: Result of “political capture”, Not the Invisible Hand of the Market

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Hugh Campbell
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As an encore to Pope Francis concerns about inequity, two reports surfaced in Europe this week, namely the 14th annual assessment of risks by the World Economic Forum (WEF) and another by the British relief charity, Oxfam. Both draw unprecedented attention to global wealth and income inequalities, as follows:

"Disgruntlement can lead to the dissolution of the fabric of society, especially if young people feel they don't have a future. This is something that affects everybody." --- WEF Chief Economist

"The 85 richest humans hold more wealth than the 3.5 billion people who constitute the bottom half. --- Oxfam Report: WORKING FOR THE FEW Political capture and economic inequality.

Oxfam describes "political capture as the wealthy use their economic power to make sure "the rules bend to favor the rich, often to the detriment of everyone else.
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At america.aljazeera.com
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A seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. He has previously held (more...)
 
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