Poverty and income inequalityEconomic inequalityIncome inequality the gap between rich and poorWidening wealth gapThe gap between rich and poor is becoming widerHow to solve the gap between rich and poorGlobal income inequality: How big is gap between richest and ...
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And, when it comes to wealth (valuable assets and items over and above income), the gap is even wider. The poorest half of the global population ... GlobalAgenda Inequality SDG10:ReducedInequalities Thesechartsshowthegrowingincomeinequalitybetweentheworld'srichestandpoorest Incomeinequalitygapremainssignificantbothbetweenandwithincountries. Image:REUTERS/JessicaRinaldi/FilePhoto 10Dec2021 JoeMyers Writer,FormativeContent UpLink-TakeActionfortheSDGs TakeactiononUpLink Explorecontext Inequality Explorethelateststrategictrends,researchandanalysis ThelatestWorldInequalityReporthighlightstheextentofwealthandincomeinequalitiesbetweenandwithincountries. TheCOVID-19pandemichasexacerbatedmanyexistinginequalities. Politicalactionisnecessarytotackleincomeinequality,thereport'sauthorsargue. AnewreporthasshownthattheCOVID-19pandemichasexacerbatedexistinginequalities. TheWorldInequalityReport,producedbytheWorldInequalityLab,foundthatwealthandincomeinequalityremainpronouncedacrosstheglobe. “TheCOVIDcrisishasexacerbatedinequalitiesbetweentheverywealthyandtherestofthepopulation.Yet,inrichcountries,governmentinterventionpreventedamassiveriseinpoverty,thiswasnotthecaseinpoorcountries.Thisshowstheimportanceofsocialstatesinthefightagainstpoverty.”,explainsLucasChancel,leadauthorofthereport. Haveyouread? HowhasCOVID-19impactedworldpoverty? Toaddressinequalitiesweneedanewvisionfortrade ChristineLagardeonhowtoaddressCOVID-19,climatechangeandinequality Incomeandwealthinequalitiessignificant Thereporthighlightstheextentofglobalincomeandwealthinequalities.Atagloballeveltheaverageincomeforanadultis$23,380(whenadjustedforPurchasingPowerParityorPPP). However,thereport'sauthorsexplainthatthisconcealswidedisparitiesbetweenandwithincountries.Therichest10%oftheglobalpopulationcurrentlytakehome52%oftheincome.Thepooresthalfoftheglobalpopulation?Welltheyearnjust8%. Onaverage,anindividualfromthetop10%willearn$122,100,butanindividualfromthebottomhalfwillearnjust$3,920. And,whenitcomestowealth(valuableassetsanditemsoverandaboveincome),thegapisevenwider.Thepooresthalfoftheglobalpopulationownsjust2%oftheglobaltotal,whiletherichest10%own76%ofallwealth. Incomeandwealthinequalityin2021. Image:WorldInequalityReport But,thereport'sauthorsalsoremindusthatsignificantinequalitycanexistwithincountries."Nationalaverageincomelevelsarepoorpredictorsofinequality,"theyexplain.High-incomecountriescanbeunequal,ascanlow-andmiddle-incomecountries. Indeed,whileoverthelasttwodecadesglobalinequalitiesbetweencountrieshavedeclined,incomeinequalityhasincreasedwithinmostcountries.Theaverageincomegapbetweenthetop10%andbottom50%ofindividualswithincountrieshasalmostdoubledacrossthattimeperiod,thereportfound. Thechangingshapeofglobalincomeinequality. Image:WorldInequalityReport TheimpactoftheCOVID-19pandemiconincomeinequality 2020markedthesteepestincreaseintheglobalbillionaires'shareofwealthonrecord,thereportfound.Indeed,since1995,theshareofglobalwealthownedbybillionaires'hasrisenfrom1%toover3%. Asthechartbelowexplains,theworld'srichesthavecapturedadisproportionateshareofglobalwealthoverrecentdecades. Thegrowthinwealth. Image:WorldInequalityReport Tacklingincomeinequality Addressingthechallengesofthe21stCentury,willnotbe'feasiblewithoutsignificantredistributionofwealth&incomeinequality',thereport'sauthorsargue. Thereportexploresvariousoptions-mainlyrootedintaxationpolicies-totackleincome&wealthinequality.Theexamplesofferlessonsfromacrosstheglobeandthroughoutrecenthistory,theyexplain,andconcludethat"inequalityisalwayspoliticalchoiceandlearningfrompoliciesimplementedinothercountriesoratotherpointsoftimeiscriticaltodesignfairerdevelopmentpathways." Share LicenseandRepublishing Writtenby JoeMyers,Writer,FormativeContent TheviewsexpressedinthisarticlearethoseoftheauthoraloneandnottheWorldEconomicForum. UpLink-TakeActionfortheSDGs TakeactiononUpLink Explorecontext Inequality Explorethelateststrategictrends,researchandanalysis Subscribeforupdates Aweeklyupdateofwhat’sontheGlobalAgenda Moreon Inequality Viewall HowWeb3willleveltheplayingfieldandunlockincomeequalityAmidotherinequalities,accesstotheinternetisstillrelativelyuniversal,andWeb3presentsagreateconomiccorrectionopportunityforfutureusers.DanteDisparte25May2022 UKinflationhitshighestlevelonrecord:TopeconomicsstoriestoreadthisweekTopeconomystories:just8%ofinsurers'preparingadequately'forclimatechange;UKinflationhitshighestlevelonrecord;WorldBanktomake$30billionavailabletotacklefoodsecu...JoeMyers19May2022 GDP:Whatisitandwhydoesitmatter?VictoriaMasterson19May2022 Themotherhoodpenalty:HowchildcareandpaternityleavecanreducethegenderpaygapKateWhiting19May2022 Davos2022:Who'scomingandeverythingelseyouneedtoknowGayleMarkovitzandBeatriceDiCaro18May2022 WhatisaConsumerPriceIndexandwhyisitimportant?VictoriaMasterson17May2022
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