Fabrizio Frosini

Gold Star - 152,745 Points (1953 / Tuscany, Italy)

Is It True That The Devil Wears Prada? - Poem by Fabrizio Frosini

Notwithstanding the obvious and comforting
Exceptions (exceptions die hard, don't they?)
The tycoons of luxury are not so different from
Those operating in any other market segment.

In the globalized economy, where the smart ones learn
Quickly how to circumvent the rules (if any) , that products
Are weapons or food, health or human flesh, matters little:
The selfish pursuit of profit substantially always wins.

All of them live in the enchanted but fake world of
Finance -a world where profits often come through the
Suffering/ needs/ weaknesses of other living beings and
No question is raised about those who are forced to sell
Their labor (or even themselves) just to survive.

What matters is the growth of wealth of a tiny
Minority. Everything else is an annoying surplus of
Little -if any- relevance.

Therefore goose feathers -torn off of the living flesh-
Fill luxury duvets, packaged at little money where
It's more convenient; then resold at thousands
US dollars/ Euros/ British pounds/ Swiss francs.

It is through it, also, that numbered accounts at offshore
Havens multiply. After all, are not these ones
Worth much more than any other supposed
Paradise?

Topic(s) of this poem: greed


Poet's Notes about The Poem

* * *

This is the English adaptation from my Italian text 'E' davvero il diavolo che veste Prada? '
Fabrizio Frosini
______

Footnote: 'Just 85 billionaires have as much wealth as the poorest half of our planet - wealth they too often use to buy politicians and capture our democracies to keep the whole system going in their favour'
[from an 'Avaaz' statement]

* * *

Comments about Is It True That The Devil Wears Prada? by Fabrizio Frosini

  • Pamela Sinicrope (1/25/2016 4:09:00 PM)


    Your poem about greed, aptly points out how the wealthiest 1% get richer at the cost/expense of the bottom percentages. There is a widening divide in our world economy where the super rich get richer and the poor remain poor if not poorer than before. The intersection of these two groups occurs often in manufacturing, where they are working for a pittance to make money for the rich. You write: /'No question is raised about those who are forced to sell/ Their labor (or even themselves) just to survive./' But this poem and the Oxfam report does just that...it raises these questions and forces all of us to contemplate the state of the human race and our place in it. Does the Devil Really Wear Prada? He could. He might. (Report) Reply

    Fabrizio Frosini Fabrizio Frosini (1/26/2016 6:02:00 PM)

    ''..this poem and the Oxfam report does just that...it raises these questions and forces all of us to contemplate the state of the human race and our place in it.''
    thank you, dear Pam. This is exactly what I wanted to get..

    9 person liked.
    0 person did not like.
  • Fabrizio Frosini (1/22/2016 4:54:00 AM)


    OXFAM REPORT - January 18,2016:

    62 people own the same as half the world, reveals Oxfam Davos report (Published: 18 January 2016)

    The Oxfam report ''An Economy for the 1%'', shows that the wealth of the poorest half of the world’s population has fallen by a trillion dollars since 2010, a drop of 41 percent.
    This has occurred despite the global population increasing by around 400 million people during that period.
    Meanwhile, the wealth of the richest 62 has increased by more than half a trillion dollars to $1.76tr.
    The report also shows how women are disproportionately affected by inequality – of the current ‘62’,53 are men and just nine are women.

    Although world leaders have increasingly talked about the need to tackle inequality, and in September agreed a global goal to reduce it, the gap between the richest and the rest has widened dramatically in the past 12 months.
    Oxfam’s prediction, made ahead of last year’s Davos, that the 1% would soon own more than the rest of us, actually came true in 2015 - a year earlier than expected.

    Oxfam is calling for urgent action to tackle the extreme inequality crisis which threatens to undermine the progress made in tackling poverty during the last quarter of a century.
    As a priority, it is calling for an end to the era of tax havens which has seen the increasing use of offshore centers by rich individuals and companies to avoid paying their fair share to society.
    This has denied governments valuable resources needed to tackle poverty and inequality.

    Winnie Byanyima, Oxfam International Executive Director, who will again attend Davos having co-chaired last year’s event, said:
    “It is simply unacceptable that the poorest half of the world’s population owns no more than a few dozen super-rich people who could fit onto one bus.

    “World leaders’ concern about the escalating inequality crisis has so far not translated into concrete action – the world has become a much more unequal place and the trend is accelerating. We cannot continue to allow hundreds of millions of people to go hungry while resources that could be used to help them are sucked up by those at the top.

    I challenge the governments, companies and elites at Davos to play their part in ending the era of tax havens, which is fuelling economic inequality and preventing hundreds of millions of people lifting themselves out of poverty. Multinational companies and wealthy elites are playing by different rules to everyone else, refusing to pay the taxes that society needs to function. The fact that 188 of 201 leading companies have a presence in at least one tax haven shows it is time to act.

    In 2015 G20 governments agreed steps to curb tax dodging by multinationals through the BEPS agreement, however these measures will do little for the poorest countries and largely ignore the problems posed by tax havens.

    Globally, it is estimated that a total of $7.6tr of individuals’ wealth sits offshore.
    If tax were paid on the income that this wealth generates, an extra $190 billion would be available to governments every year.

    As much as 30 percent of all African financial wealth is estimated to be held offshore, costing an estimated $14 billion in lost tax revenues every year.
    This is enough money to pay for healthcare for mothers and children in Africa that could save 4 million children’s lives a year, and employ enough teachers to get every African child into school.

    Nine out of ten WEF corporate partners have a presence in at least one tax haven and it is estimated that tax dodging by multinational corporations costs developing countries at least $100 billion every year.
    Corporate investment in tax havens almost quadrupled between 2000 and 2014.

    Allowing governments to collect the taxes they are owed from companies and rich individuals will be vital if world leaders are to meet their new goal, set last September, to eliminate extreme poverty by 2030.

    Although the number of people living in extreme poverty halved between 1990 and 2010, the average annual income of the poorest 10 percent has risen by less than $3-a-year in the past quarter of a century.
    That equates to an increase in individuals’ daily income of less than a single cent a year.

    Had inequality within countries not grown between 1990 and 2010, an extra 200 million people would have escaped poverty.

    One of the other key trends behind rising inequality set out in Oxfam’s report is the falling share of national income going to workers in almost all developed and most developing countries and a widening gap between pay at the top and the bottom of the income scale.
    The majority of low paid workers around the world are women.

    By contrast, the already wealthy have benefited from a rate of return on capital via interest payments, dividends, etc, that has been consistently higher than the rate of economic growth.
    This advantage has been compounded by the use of tax havens which are perhaps the most glaring example set out in the Oxfam report of how the rules of the economic game have been rewritten in a manner that has supercharged the ability of the rich and powerful to entrench their wealth.

    Oxfam is calling for action against tax havens to be part of a three-pronged attack on inequality.
    Action to recover the missing billions lost to tax havens needs to be accompanied by a commitment on the part of governments to invest in healthcare, schools and other vital public services that make such a big difference to the lives of the poorest people.

    Governments should also take action to ensure that work pays for those at the bottom as well as for those at the top – including moving minimum wage rates towards a living wage and tackling the pay gap between men and women.

    Byanyima added:
    “The richest can no longer pretend their wealth benefits everyone – their extreme wealth in fact shows an ailing global economy. The recent explosion in the wealth of the super-rich has come at the expense of the majority and particularly the poorest people.

    ______________________________________________

    The number of people whose wealth is equal to that of the poorest half of the world’s population since 2010:

    2010: 388
    2011: 177
    2012: 159
    2013: 92
    2014: 80
    2015: 62

    Wealth of 1%,50%, and 99% taken from Credit Suisse Global Wealth Datebook (2013 and 2014)

    The wealth of the richest 62 was calculated using Forbes’ billionaires list. Annual data taken from list published in March.

    Calculations include negative wealth (i.e. debt) . As a robustness check, Oxfam recalculated the wealth share of wealth held by the richest 1 percent once negative wealth is excluded. It did not change significantly (falling from 50.1 percent to 49.8 percent) . Negative wealth as a share of total wealth has remained constant over time, such that wealth distribution trends over time are not affected.

    GO TO OXFAM.org web page to:

    - Download the report: 'An Economy for the 1%'

    - Add your name, and let’s end the era of tax havens
    (Report) Reply

  • Fabrizio Frosini (1/18/2016 6:53:00 AM)


    About OXFAM report (January 2016) :
    _________________

    JUST 'INEQUALITY'?
    _________________

    Gawain Kripke, Oxfam's Policy Director, points out that wide inequality is no longer seen as an 'unfortunate consequence' of economic growth.
    Indeed, many economists - among them, Thomas Piketty - contend that ''gross inequality actually slows down growth'', as fewer people can afford to buy stuff, and ''creates economic and political instability''.

    It takes cash and assets worth $68,800 to get into the top 10%,
    and $760,000 to be in the 1%.

    ''Instead of an economy that works for the prosperity of all, for future generations, and for the planet, we have instead created an economy for the 1%, '' Oxfam's report says.

    Oxfam calls on governments to take action to reverse this trend.

    Recommendations:
    - workers have to be paid a living wage;
    - the gap with executive rewards to be narrowed;
    - end to the gender pay gap;
    - compensation for unpaid care;
    - promotion of equal land and inheritance rights for women (in many parts of the world women have no rights!) :
    - governments have to take action on lobbying;
    - reducing the price of medicines;
    - taxing wealth rather than consumption;
    - using progressive public spending to tackle inequality.

    _________________________________________________

    This is our world. The world all of us have contributed to 'create'!
    We can't deny this simple fact. Thus, we now need to change it..!
    _________________________________________________
    (Report) Reply

  • Fabrizio Frosini (1/18/2016 6:10:00 AM)


    All the money in the world is growing ever more concentrated in the hands of just a few people, according to a report released by Oxfam.

    - The 62 Richest People On Earth Now Hold As Much Wealth As The Poorest 3.5 Billion

    - The richest 1 percent of the world’s population now own half the world’s wealth.

    Oxfam's report also points a finger at tax dodging and urges governments worldwide to get a handle on tax avoidance by wealthy individuals and corporations.

    Today,62 ultra-rich, mostly white men, have as much wealth as the bottom half of humanity.
    Five years ago, it took 388 rich people to achieve that status.

    The wealth of the richest 62 has increased an astonishing 44 percent since 2010, to $1.76 trillion.
    In the same period, the wealth of the bottom half of the world dropped by 41 percent.

    ''It’s a significant loss to governments, '' Gawain Kripke, Oxfam's Policy Director, said.
    The rich use exotic strategies to park money so that it’s invisible and inaccessible to governments, who could redistribute those dollars to their citizens, he said. ''We need reform on this.''

    (OXFAM report, January 2016)
    (Report) Reply

  • Jeremy Horsford (5/9/2015 4:34:00 AM)


    Very interesting read. A question which I am sure the world will respond to positively. (Report) Reply

    Fabrizio Frosini Fabrizio Frosini (5/9/2015 11:17:00 AM)

    thank you Jeremy

  • (4/9/2015 11:21:00 AM)


    Wow! You are an amazingly brilliant man, Fabrizio. You are able to put things into perspective so succinctly and truthfully, I love your poetry! ! You tell it like it is, and with such eloquence! ! Your imagery is superb, rhythm flows throughout your poem. Thank you for sharing, I thoroughly enjoyed reading your poem. RoseAnn (Report) Reply

    Fabrizio Frosini Fabrizio Frosini (4/9/2015 2:11:00 PM)

    thank you heartily, dear RoseAnn.. I'm glad to know that you appreciate my poem. As a simple person who loves poetry, I'm so pleased to read such a beautiful comment! A friendly hug from Italy

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Poem Submitted: Saturday, April 4, 2015

Poem Edited: Saturday, April 4, 2015


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