Oxfam called on Monday for governments to rein in corporate power by breaking up monopolies; instituting taxes on excess profit and wealth; and promoting alternatives to shareholder control such as forms of employee ownership. “This inequality is no accident; the billionaire class is ensuring corporations deliver more wealth to them at the expense of everyone else,” said Oxfam International Interim Executive Director Amitabh Behar. Oxfam said its report, based on data sources ranging from the ILO and World Bank to the Forbes annual rich list, showed such aspirations were far from being fulfilled. Meanwhile nearly 800 million workers saw their wages over the past two years fail to keep up with inflation. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Source: The Express Tribune January 16, 2024 15:24 UTC