[Hpn] Fun Facts About Global Inequality

chance martin streetsheet@sf-homeless-coalition.org
Thu, 01 Feb 2001 16:26:32 -0700


via radman <resist@best.com>

Fun Facts About Global Inequality

1. Of the 100 largest economies in the world, 51 are
corporations; only 49 are countries (based on a comparison of
corporate sales and country GDPs).

2. The Top 200 corporations' sales are growing at a
faster rate than overall global economic activity. Between 1983 and
1999, their combined sales grew from the equivalent of 25.0
percent to 27.5 percent of World GDP.

3. The Top 200 corporations' combined sales are bigger
than the combined economies of all countries minus the
biggest 10.

4. The Top 200s' combined sales are 18 times the size
of the combined annual income of the 1.2 billion people (24 percent
of the total world population) living in "severe" poverty.

5. While the sales of the Top 200 are the equivalent
of 27.5 percent of world economic activity, they employ only 0.78
percent of the world's workforce.

6. Between 1983 and 1999, the profits of the Top 200
firms grew 362.4 percent, while the number of people they
employ grew by only 14.4 percent.

7. A full 5 percent of the Top 200s' combined
workforce is employed by Wal-Mart, a company notorious for union-busting
and widespread use of part-time workers to avoid paying benefits.
The discount retail giant is the top private employer in the
world, with 1,140,000 workers, more than twice as many as No.
2,  DaimlerChrysler, which employs 466,938.

8. U.S. corporations dominate the Top 200, with 82
slots (41 percent of the total). Japanese firms are second, with only
41 slots.

9. Of the U.S. corporations on the list, 44 did not
pay the full standard 35 percent federal corporate tax rate
during the period 1996-1998. Seven of the firms actually paid less
than zero in federal income taxes in 1998 (because of rebates).
These include:  Texaco, Chevron, PepsiCo, Enron, Worldcom, McKesson
and the world's biggest corporation - General Motors.

10. Between 1983 and 1999, the share of total sales of
the Top 200 made up by service sector corporations increased
from 33.8 percent to 46.7 percent. Gains were particularly
evident in financial services and telecommunications sectors,
in which most countries have pursued deregulation.

Institute for Policy Studies
http://www.ips-dc.org
saraha@igc.org

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