Economic storm
It could take more than a decade to reduce the number of people living in poverty back to precrisis levels, Oxfam said. The 10 richest men—a list led by Bezos and Musk which also includes LVMH luxury group’s CEO Bernard Arnault, Microsoft’s Bill Gates and Facebook CEO Mark Zuckerberg—saw their net worth increase by $540 billion in the same period, Oxfam said.
A temporary tax on excess profits made by the 32 global corporations that have profited the most during the pandemic could have raised $104 billion in 2020, Oxfam said.International cooperation would be key to implementing many changes, said Jayati Ghosh, an economics professor at University of Massachusetts Amherst who was among the economists polled by Oxfam for the report.
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