Oxfam´s annual report on inequality, more interesting than ever

For a few years now, Oxfam uses the World Economic Forum meeting at Davos to publish its report on inequality.  The report combines intellectual rigour with really interesting information.  This year, the accent on the link between the wealthy and monopolistic companies constitutes a welcomed message.  The report states that:

 "A huge concentration of global corporate and monopoly power is exacerbating inequality economy-wide. Seven out of ten of the world’s biggest corporates have either a billionaire CEO or a billionaire as their principal shareholder. Through squeezing workers, dodging tax, privatizing the state and spurring climate breakdown, corporations are driving inequality and acting in the service of delivering ever-greater wealth to their rich owners. To end extreme inequality, governments must radically redistribute the power of billionaires and corporations back to ordinary people. A more equal world is possible if governments effectively regulate and reimagine the private sector."

This message is important at both the global level and in many regions.  At the global level, the wealthiest individuals are also part-owners of companies that benefit from government policies.  Think about Microsoft or Google.  At the regional level, we often found similar dynamics.  In the region I know more, the wealthiest families have interest in key sectors of the economy where the level of competition is low.  As such, it is clear that the fight against inequality requires active market regulation and proper corporate taxation.