How did the world come to this – the poorest 40% of the population only account for 5% of global income. What’s even crazier is that the 8 most wealthy people in the world (only 0.0000001% of the world’s population), combined, have the same amount of wealth as the poorest 50% of the total population. That’s $426 billion in the hands of just 8 men. At first glance, this definitely looks like a massive problem! You would think that the likes of Bill Gates, Jeff Bezos and Mark Zuckerberg (who are all part of these 8 men) would be a bit more generous. I mean, under 5% of their total wealth ($20 billion) was the GDP of Afghanistan in 2016!
Recently, Pope Francis released his new encyclical letter, ‘LAUDATO SI’ — ‘Praise be to you’ (you can find the full version of the encyclical here). The main purpose of this encyclical is ‘to enter dialogue with all people about our common home’; this implies that the Pope wanted to share his views on the environment and the use of the scarce resources on our planet.
In this post I will write about a court case, regarding printer cartridges, which recently reached the U.S. Supreme Court. In a nutshell, the Supreme Court was faced this dispute: should individuals be allowed to refill their used toner cartridges? Despite the fact that this looks like a fairly simple argument, the verdict could have striking implications for numerous industries – these are discussed at the end of this blog post.