Monday, 21 January 2013

100 Richest's Wealth Could End Poverty Four Times Over - Explained

This statement in a BBC report raised my eyebrows when I saw it:

The 100 richest people in the world earned enough last year to end extreme poverty suffered by the poorest on the planet four times over, Oxfam has said.
Duncan Green explains how Oxfam got to the figure here. It makes a lot more sense now. Because, as he says, the stat may be around for a while, it's probably worth knowing where it comes from.

While at it, worth reading this on the other issues with the statement, especially in the phrasing other news outlets have used where they refer to "ending global poverty" without the qualifier of "extreme poverty" (which, at least within the development/aid sector, has a specific meaning).

Still not completely sold on the use of that particular statistic but great to see such attention paid to inequality as an (arguably the) issue in development.

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