World's 85 richest people have as much as poorest 3.5 billion: Oxfam warns Davos of ‘pernicious impact’ of the widening wealth gap

“This massive concentration of economic resources in the hands of fewer people presents a significant threat to inclusive political and economic systems,” the charity said. “People are increasingly separated by economic and political power, inevitably heightening social tensions and increasing the risk of societal breakdown.” Winnie Byanyima, Oxfam’s executive director, who will attend Davos, described the gulf between sectors of society as staggering. “We cannot hope to win the fight against poverty without tackling inequality. Widening inequality is creating a vicious circle where wealth and power are increasingly concentrated in the hands of a few, leaving the rest of us to fight over crumbs from the top table,” she said.

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