Inequality is growing around the world

Today, the social justice organization Oxfam has released a report stating that global inequality is growing.  You can read about the report here.  According to media coverage, Oxfam reports that the wealthiest 1% will own 50% of the world's wealth by 2016.  These numbers are quite staggering. What are the social and political consequences of these trends?  What does it mean for social justice and the common good?