Global Oligarchic Number
For the purpose of this article, the global oligarchic number is defined as the number of the richest people that individually own assets that exceed those of the entire poorest one half of the worlds population. The richest people, those who’s combined wealth is in excess of that held by the poorest one half, is an indicator of the economic health of the world community. Low numbers create a flashing red light on the economic dashboard.
Because oligarchs become oligarchs by siphoning money from the world’s economy. Down to a yet unidentified point, when fewer people control a larger percentage of the world’s wealth, the habitat for humanity degrades. That is astronomically more pronounced, when the degradation happens rapidly.
In 2010 390 people each owned as much as the poorest one half of the world’s population. As shocking as that figure is, in 2017 that number is reduced to just 60. Over the course of just seven years five sixths of those oligarchs have been pushed out of the global oligarchy. They, like the rest of us are beholden to those who have a monopoly on the welfare of humanity.
Wealth is difficult to identify, especially with oligarchs. Much of their wealth is obtained using either illegal subterfuge, or it is secured using clandestine trickery. Ill gotten gains are susceptible to loss, so they are often hidden. The actual number of global oligarchs may be far lower than publicly available figures show. In that case, the economic consequences could be even quicker, and more severe than they would be if more accurate data could be easily obtained.
Economically all people work for each other. Reality dictates that all work is not economic. Some work produces harm, such as in the case of war, and injustice. Harm to the human environment creates a cost, an economic impediment that will ultimately be paid for, by survivors.
People need to work to survive. They work for the people who control the money. When oligarchs finance the economy, they tend to hire people to do the wrong things, things that make no economic sense. Global oligarchic numbers, plunging from 390 to 60, in just seven years is spontaneous economic combustion. The sixty oligarchs are essentially slave holders. They control governments, education, and organized religious bodies. Seven billion of us do their bidding. “While they fiddle, civilization is burning.”
We are one people, that share one planet. We will do that economically, or pay the price with war, injustice, anger, fear, depression, and despair. Or perhaps, the entire population could be obliterated. The global oligarchic number, is an important indicator, that can help us avoid all of that, raising awareness by sounding the alarm. The red light is flashing.