Ten-Year Challenge – “We’re Doing Fine”

Posted: January 21, 2019 in Uncategorized

The world’s billionaires are growing $2.5 billion richer every day, while the poorest half of the global population is seeing its net worth dwindle.

Billionaires, who now number a record 2,208, have more wealth than ever before, according to an Oxfam International report published Monday. Since the global financial crisis a decade ago, the number of billionaires has nearly doubled.

The annual study was released ahead of the yearly World Economic Forum in Davos, Switzerland, which brings together some of the wealthiest and most influential people on Earth. The 106-page report is meant to call attention to the growing gap between rich and poor.
The combined fortunes of the world’s 26 richest individuals reached $1.4 trillion last year — the same amount as the total wealth of the 3.8 billion poorest people.

  1. Palmer Lee-Mesa says:

    A couple of us had to watch an eye-opening documentary titled “Inequality for All” last semester. It’s a documentary that examines the growing wage gap between Americans and provides solutions to that issue. I would highly recommend anyone watch it.

  2. Kevin Nielson says:

    I think it is interesting how public opinion on this matter is changing in the United States as far as income inequality is concerned. I saw recently that even 45% of republicans are in favor of Alexandria Ocasio-Cortez’s a 70% Tax on all earnings above 10 Million Dollars. I found interesting that the party that supported major tax cuts to the wealthy are now showing that almost half of their party agree with a major tax increases to the extremely rich.

  3. Eduardo Barba says:

    The concept of the 10 year challenge is an ongoing trend on social media which interestingly enough the official page of the University of Utah has partaken in. They posted a photo on Instagram showing the Marriott Library on campus and the development it has undergone. In terms of wealth disparity, the fact that the “world’s 26 richest individuals reached $1.4 trillion last year — the same amount as the total wealth of the 3.8 billion poorest people.” is quite a fascinating yet saddening statistic. I think that more wealthy people ought to donate to poor disadvantaged families instead of bathing in more money than they know what to do with, instead of complaining about a tax hike that won’t even make a dent in their pockets.

    • I couldn’t address this issue in class today, but I wish I could have done so. It’s a very important topic. One of Eliot’s fundamental beliefs is that we have, in industrial times, come to measure the greatness of nations according to the wrong metric. The industrial mentality believes that the greatest nation will be that which can display the greatest amount of economic or military power. On the other hand, Eliot, having seen the senseless destruction wrought by the Great War (the aftermath of which he treats at length in ‘The Waste Land’), argues that we need an alternative standard of evaluation.

      For Eliot, the greatness nation is not which can kill the greatest number of humans at the most reasonable cost, but rather that which can produce a population most able to understand aesthetic feeling, as opposed to mere raw emotion, as well as recognize and appreciate actual culture.

      Following up on your remarks, Eliot might say we should judge universities by a similar standard.

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