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Billionaires,Capitalism and the World Crisis

Recently, Amazon founder Jeff Bezos became the richest person in the modern history, with worth of over 151 Billion dollars.

Whats the point of having so much money?

The reason why people like Jeff Bezos get rich beyond consience is the modern economic system of capitalism. They filled the gap by giving consumers what they needed and at an affordable price.

As Martin Luther King Jr. said

“Capitalism does not permit an even flow of economic resources. With this system, a small privileged few are rich beyond conscience, and almost all others are doomed to be poor at some level. That’s the way the system works. And since we know that the system will not change the rules, we are going to have to change the system.”

In this ever growing world of capitalism the rich are always gonna get richer and poor poorer. Income disparities will always walk along capitalism.

Moreover, the effects do not rest at one country it becomes effective globally. Needless to say many global issues can be solved by the ultra-rich but instead many want to re-invest and gain profits.

According to UNESCO Global Report 2017-18, 264 million children are out of school and don’t get primary education. Among which 63% are female. Six countries together make up the one third of the total which are out of school or don’t get primary education at all, namely India, Ethiopia, Indonesia, Nigeria, Pakistan, Sudan.
According to this report it would cost 30 Billion dollars to get these 264 million children proper education for a whole year. And guess what Jeff Bezos could all by himself pay the amount for five straight years. But the question that rings is, would he?

The same report said, there are more than 300 million people in the continent of Africa, who have no fixed supply of clean water. As a result 2,200 children are dying everyday by diarrhea related diseases.

According to UNESCO it would take 10 Billion dollars to bring clean water to the whole of world for an year. Again, Jeff Bezos can all by himself end the water crisis for 15 years. But the question is would he?

According to UNICEF, 22000 children die each day due to poverty and the cost to end this world hunger would be around 30 Billion dollars, again you can do the math.

Now the question arises, why is it that that I hate Bezos? No I don’t hate him, because really if he wasn’t the Richest guy then, it would have been some other guy. I know it’s not that easy to solve the global crisis but initiatives should be taken.

More than 150 billionaires from around the world have now signed Bill and Melinda Gates’ Giving Pledge, promising to donate at least half of their fortunes to charity. Others give money to hospitals, parks, or schools. Bezos not one of them.

But that’s just one side of the coin. Many wealthy people can afford to donate much more than they do. So, why don’t they?

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