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WHO ARE THE ONE PERCENTERS? by DAVE SMITH

posted 25 Mar 2018, 04:32 by Gerry Kangalee   [ updated 25 Mar 2018, 04:41 ]
Dave Smith
They get everywhere. Almost all countries have them. Sometimes you can see them, but mostly they live in a world of their own hidden away from the rest of us by their wealth. They are the ones who own the biggest proportion of the economy.

With ownership of the economy comes power and influence. Unelected and accountable only to themselves and their class interests, they have the wealth to finance political parties (and therefore determine their policies) and strongly influence the policies of Governments.

We elect governments into office, but those in power are the owners of the economy. That is why there was a major push from the labour movement for nationalising key elements of the economy after independence in 1962. Political independence when your country is still owned by the former colonialists is not independence! Nothing much has changed today.

The “one percenters” can dismiss workers, shut down companies, move companies from one country to the next without a care in the world for the workers on the receiving end of their profit motivated decisions. Be careful how you upset them! They have deep pockets - enough to buy any number of lawyers to threaten legal action beyond the ability of ordinary people to defend.

So who are these people?
● The world's richest 1% own half the world's wealth according to a 2017 report from Credit Suisse (hardly in the vanguard of revolutionary politics!) (see:http://bit.ly/2zXLTWw).

● The Washington Post has reported that “ the wealthiest 1 percent of American households own 40 percent of the country's wealth … and own more than the bottom 90% of the US population” (See here: http://wapo.st/2GEFRdE )

● With the richest 10% owning 87% of all the country’s wealth, Russia is rated the most
unequal of the world’s major economies. (See here: http://bit.ly/2q5hIVd )

The “one percenters” come in all shapes and sizes and they are everywhere. Although it is difficult to get similar statistics about T&T, there is no reason to suppose that our own homegrown “one percenters” will be any different in terms of what proportion of the
country's wealth they own, the power and influence they have and how they treat their workers.

Don’t get confused and side tracked. This is a class issue.
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