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From The Socialist newspaper, 21 October 2015

1% now officially owns more than half the world's wealth

Monopoly man with axe dancing on money bags, photo by torbakhopper (Creative Commons)

Monopoly man with axe dancing on money bags, photo by torbakhopper (Creative Commons)   (Click to enlarge)

Claire Job

We now live in a world where the richest 1% of the population owns more than half the wealth. And the poorest half owns less than 1% - according to the latest Credit Suisse Wealth Report.

This is a world where crippling cuts send thousands flocking to food banks. At the same time, those at the top find their riches mounting. They are untouched by the economic crisis that gave rise to the Tory lie "we're all in it together".

Chaos

But we are not! The working class is paying for the economic chaos of the capitalist system. It's a system wielded by those of wealth for the benefit of themselves and their friends.

The middle class, too, is getting squeezed. More and more see the need to ally with the working class in struggle. Look no further than the pay battle faced by junior doctors for evidence.

The Tory cheats trumpet falling unemployment figures. But most new jobs are low-wage, part-time, or self-employed posts - with no sick or holiday pay.

They hide the fact that in Britain, 63% of children living in poverty are in a family where someone works. Tory plans to decimate tax credits in April are estimated to mean poverty for an extra 200,000 children.

What do you expect from the bosses' politicians?

The prime minister and chancellor received ideological training at exclusive super-rich clubs in Oxford. Supposedly, burning a 50 note in front of a homeless person was an initiation ritual.

But it's workers - the 99% - who make all the wealth the 1% controls. We build the products and run the services.

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Coronavirus crisis - Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

  • The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
  • Our 'fighting coronavirus workers' charter', outlines a programme to combat the virus and protect workers' living conditions.
  • When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
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In The Socialist 21 October 2015:


Socialist Party news and analysis

Strike to save the NHS

Hands off tax credits

1% owns more than half the world's wealth

Damning report on NHS staffing levels delayed by Tories

Labour MP refuses to back strike

Them & Us

What we saw


Socialist Party features

Corbyn campaign: Opportunity for raising socialist ideas

How can workers resist capitalist cuts and closures?


International socialist news and analysis

World economy: 'biggest danger to capitalism is capitalism'

Germany: refugee crisis and the fight against the racist right

International news in brief


Workplace news and analysis

For a fighting, socialist Unison general secretary, back Roger Bannister

Hull's Labour council in aggressive bid to remove all union convenors

Welsh Government should think outside 'the Box'

Determined mood at Napo conference

Sports Direct action over sacking

Rally opposes the Tory trade union bill

Workplace news in brief


Socialist Party reports and campaigns

Organising to defend Corbyn's anti-cuts mandate

Help fund the fight for socialism

Huge support for the Wales March for Homes


Socialist Party comments and reviews

Former war hero fighting for the future: a pensioner speaks out

'Britain First' - tiny and violent


 

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Related links:

Wealth:

triangleUniversal Basic Income: not a solution to insecurity and poverty under capitalism

triangleRich get handouts - workers get pay cuts

triangleBail out the real wealth creators, not the rich

triangleEnd health and wealth divide - Fight for our NHS

Pay:

triangleTransport workers and passengers mustn't pay the price

triangleFurlough cut-off could force millions back to unsafe workplaces

triangleLeicester care workers face pay cut and worse conditions

triangleFurlough scheme extended - workers need 100% of wages

Poverty:

triangleJD Sports: Shut up shop and give us full pay!

triangleCardiff East Socialist Party: Is Universal Basic Income the solution to poverty?

triangleAusterity kills

Children:

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triangleParents - Organise against 'back to school' plans that threaten everyone's safety

Capitalist system:

triangleCoronavirus - a workers charter 2020

Tax:

triangle30 years since the huge anti-poll tax demo... And how mass non-payment of the tax was built

Socialist Party:

triangleMick Cotter 21-9-57 to 20-5-20

Banks:

triangleThem & Us

Capitalist:

triangleBlack and Asian Covid-19 deaths: an indictment of capitalist inequality

Socialism:

triangleSocialism the Podcast: 2020 episodes

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