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From: The Socialist issue 875, 21 October 2015: Strike to save the NHS

Search site for keywords: Wealth - Pay - Poverty - Children - capitalist system - Tax - Socialist Party - Banks - Capitalist - Socialism

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".


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.

It's not enough to be angry. Turn that anger into action. Join the Socialist Party - fight for socialism. Join the fightback today!

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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.
We therefore urgently appeal to all our viewers to donate to our special coronavirus appeal.

Please donate here.

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