BBC Balance

[Young Master Smeet]

http://www.bbc.co.uk/news/business-38613488

Note how the BBC gives ;balance' to the Oxfam report that 8 people own as muchw ealth as half the human species.

BBC wrote:

"As an 'anti-poverty' charity, Oxfam seems to be strangely preoccupied with the rich," said the director-general of the free market think tank.

For those concerned with "eradicating absolute poverty completely", the focus should be on measures that encourage economic growth, he added.

Ben Southwood, head of research at the Adam Smith Institute, said it was not the wealth of the world's rich that mattered, but the welfare of the world's poor, which was improving every year.

"Each year we are misled by Oxfam's wealth statistics. The data is fine – it comes from Credit Suisse – but the interpretation is not."

In fact, Oxfam does not concentrate on th rich, but nor does it concentrate on practical measures to end poverty, preferring to talk about taxing the rich.

Anyway, here is the list:

The Hateful 8 wrote:

• 1. Bill Gates (US): co-founder of Microsoft (net worth $75bn)
• 2. Amancio Ortega (Spain): founder of Zara owner Inditex (net worth $67bn)
• 3. Warren Buffett (US): largest shareholder in Berkshire Hathaway (net worth $60.8bn)
• 4. Carlos Slim Helu (Mexico): owner of Grupo Carso (net worth $50bn)
• 5. Jeff Bezos (US): founder and chief executive of Amazon (net worth $45.2bn)
• 6. Mark Zuckerberg (US): co-founder and chief executive of Facebook (net worth $44.6bn)
• 7. Larry Ellison (US): co-founder and chief executive of Oracle (net worth $43.6bn)
• 8. Michael Bloomberg (US): owner of Bloomberg LP (net worth $40bn)

A 'neutral' voice is made to say:

Quote:

UK economist Gerard Lyons said focusing on extreme wealth "does not always give the full picture" and attention should be paid to "making sure the economic cake is getting bigger".

Why, whent he cake is already big enough?

[ALB]

Young Master Smeet wrote:

A 'neutral' voice is made to say:

Quote:

UK economist Gerard Lyons said focusing on extreme wealth "does not always give the full picture" and attention should be paid to "making sure the economic cake is getting bigger".

That Lyons character is far from being neutral. He's a Free Trade Fanatic who wants all tariffs to be abolished. And of course a Barmy Brexiteer but then they're ruling the roost at the moment.

[jondwhite]

The Adam Smith Institute have debated the SPGB in recent years. One for me to transcribe I think. Wasn't Adam Smith himself not quite as in favour of the "free market" as the Institute bearing his name?

[Wez]

This is quite interesting on Adam Smith and his views on the 'free market': http://www.bbc.co.uk/programmes/b052ln55

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