Eight men own as much wealth as poorest half of world’s population


Eight men own as much wealth as poorest half of world’s population (3.6 billion people), according to Oxfam report. abcn.ws/2iwe1mc


And the reason most of the world is not because these men have money but because of government corruption and the lack of a free market of sustainable capitalism.


Note that several of those billionaires are brutal state socialists, who use the power of government to limit competition.


Could you give us more detail on that?


As Christians, we have work to do.


Could you give us more detail on how as a Christian we can help all those in poverty?

What specific steps would you take?


6 listed in the article are democrats, they are not all on the top 8, but are listed in the article.

Bill Gates Dem
Warren Buffett Dem
Jeff Bezos Dem
Mark Zuckerberg Dem
Larry Ellison Dem
Bloomberg Dem


I’m sorry for my ignorance here but I don’t participate in threads about the US. Being Democrats means they are ‘brutal state socialists’?


Not sure where you think I said that.


I asked another poster about detail and, I’m sorry if I misjudged, you came up with detail. I said that I don’t follow threads about the US. :slight_smile:


Since you don’t follow those political threads, I will explain just a little, most democrats are very critical of those with wealth, except when it comes to those that promote their own most important issue.


I was wondering the same thing. I remember from the Bible Jesus says the poor will always be with us but that doesn’t excuse us from looking the other way and ignoring the problem. It’s just hard to address world wide poverty without redistributing wealth in some manner.


Seven of those men live in the United States. The vast majority of those in the 3.6 billion live in 3rd world kleptocracies. Most of the world’s problems stem, not from an unequal distribution of wealth, but from an unequal distribution of freedom.


There are plenty of things that we can do to help the poor. Obviously, anyway we help the poor is going to involve sacrifice on our part. Of course, sacrifice is part of being a Christian. So if you don’t want to sacrifice, I would suggest you find another religion. Helping the poor revolves around two strategies. Giving people a fish and teaching people to fish (or at least helping them get a fishing pole).


There are other issues as well. For example, some poor countries are starved for capital. One local bank in my state has more loans outstanding than some poor countries I have visited. It is hard to grow your own capital when your per capita income is $2000.


Pleased to agree with you.

Let’s hope that the US maintains its long-standing interest and alliances to promote freedom rather than kleptocracy.


They’re starved for capital because nobody wants to invest in a country in which the majority of the investment will end up in the dictators Swiss bank account. The reason there’s a lack of capital can be directly tied to the lack of freedom.


Actually, it is a bit more complicated than that.


I agree. Lending can be complicated and requires laws that make it workable, along with courts with the desire and ability to enforce them. Even a small example, how do you get a mortgage in a country that has no reliable land records? One of the never-ending disputes between Israel and Palestinians in the West Bank is the fact that the Ottomans never had a land record system. The Brits started setting one up, but left before it happened, and the area wasn’t “gridded out” anyway. Now there are all kinds of disputes over who owns what land and what the boundaries of each parcel might be. Israel has courts to determine those things, but Palestinians don’t accept the courts’ decisions or the ownership records resulting from those decisions. Just a mess.

The same is true of chattels. In the U.S. we have a clear chattel lien recording system (or, rather, several of them) But in a country where there isn’t one, how does a banker recover his security other than “by reason of hired thug”?


The US generally props up those “kleptocracies” because they are friendly to US policy.

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