Description: Development organization Oxfam has reported that the “1%” – the richest people in the world – have acquired 2/3 of the new wealth created since the pandemic. While the upper echelon is adding $2.7 billion to its wealth total each day – yes that does say billion with a “b” – people in less elevated spheres must deal with the economic uncertainty of inflation. Oxfam timed what it calls “shocking” findings to be released on the same day that the World Economic Forum opens in Davos, Switzerland. Oxfam proposes a 5% tax on the wealthiest to generate $1.7 trillion a year, helping to lift many out of poverty through spending in education and health.
Date: January 16, 2023
1) How do you and your classmates react to this story?
2) What do you think various government of Canada might do to address this issue?
3) Page 1-10 of Wiley’s Managerial Accounting: Tools for Business Decision-Making discusses the concept of corporate social responsibility. How might this concept tie in with concerns over concentration of wealth?