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Nobel Prize winner Joseph Stiglitz is concerned about increasing social inequality in the world. The gap between rich and poor is widening. To reverse the trend, he calls for the super-rich to pay a higher income tax and a wealth levy. He says introducing a special global tax rate of 70 percent for top earners “would clearly make sense.”
Read more: Nobel Prize Winner Stiglitz wants 70% tax on top incomes
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The Economy for the Common Good (ECG) is an alternative to the existing economic model of capitalism, including the pursuit of profit and constant growth. The ultimate goal is a good life for all people. The idea: the state supports companies that produce in an environmentally friendly way and pay their employees fairly. Through favorable loans and tax breaks, they receive a clear advantage and can thus operate even more successfully. Piece by piece, this could lead to a sustainable and socially just economic system.
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Colombia’s President Gustavo Petro wants to tax oil exports and the rich. This could raise 11.5 billion dollars a year for the country. Petro wants to use this money to fight poverty among the population and invest in universities and social programmes. This way, he aims for a fairer distribution of wealth in Colombia.
Read more: President Petro wants to change wealth distribution in Colombia
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The world’s largest trial of a 4-day week in the UK has got off to a successful start and is already showing very positive results. So positive, in fact, that 86 percent of the companies surveyed are considering retaining the reduction in working hours with full pay after the trial phase. Back in the summer, CNN Business checked with employees and participating companies: The new daily routine is “phenomenal”.
Read more: World's largest trial in the UK: 86 percent want to keep 4-day week
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China bans cryptocurrencies. The Central African Republic is making Bitcoins a legal tender. Meanwhile, the EU failed to require the crypto industry to be more sustainable: Conservatives and the Right prevent the paragraph demanded by the Social Democrats. The world is divided on how to deal with cryptocurrencies like Bitcoin. Proponents point to the security and independence – critics to the high energy consumption and the fight against money laundering and tax evasion.
Read more: Ban or regulate: The world searches for a way to deal with cryptocurrency