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On average, an individual from the top 10% will earn $122,100, but an individual from the bottom half will earn just $3,920. 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 owns just 2% of the global total, while the richest 10% own 76% of all wealth.
Listen to the article. Global inequality has gotten worse, with the richest 1% grabbing nearly two-thirds of the $42 trillion of wealth newly-created since 2020. Inequality is destroying society and it is not inevitable; it is a choice that reveals us as lacking in both empathy and imagination. Our leaders need to imagine new economic processes ...
Looking at global inequality beyond purely from an income distribution lens, it is critical to take into consideration multidimensional factors such as social mobility, gender equality, livelihood infrastructure, technology access, the voice of civil society, privacy, social and environmental protections, progressive tax laws and labour rights when examining the how societies perform on ...
These are five of the most shocking facts featured in the report: 1. The richest 1% in the world have more than double the wealth of 6.9 billion people. Global wealth distribution Image: Oxfam. Among that 1% are the world’s 2,153 billionaires, who in 2019 had more wealth than 4.6 billion people. Oxfam has calculated that to amass even a fifth ...
Concluding remarks. There exists a general consensus among economists that globalisation is good at the world level. However, the increasing discontent with globalisation in developed countries has forced economists to better understand the mechanisms through which it affects the distribution of income between and within countries. In this ...
Nearly a decade on from the financial crisis, the global economy remains sluggish – averaging 3% annual growth since 2008 – and productivity is stagnating. Whilst stimulating economic growth is a high priority policy for governments, there is a prevalent attitude that tackling inequality has to include economic sacrifice.
The Global Gender Gap Index 2024 benchmarks the current state and evolution of gender parity across four key dimensions (Economic Participation and Opportunity, Educational Attainment, Health and Survival, and Political Empowerment). It is the longest-standing index tracking the progress of numerous countries’ efforts towards closing these gaps over time since its inception.
Sustainable economies. Inequality drives status competition, which drives personal debt and consumerism. More equal societies promote the common good – they recycle more, spend more on foreign aid, score higher on the Global Peace Index. Business leaders in more equal countries rate international environmental agreements more highly.
Economic Growth. 5 maps on the state of global inequality. Nov 25, 2015. Joe Myers. Writer,Forum Agenda. Half of the world’s wealth is now owned by the top 1%, according to a recent Credit Suisse report. The extent of global inequality represents a challenge to societies across the world, as governments and international organisations look to ...
Oxfam reports that global income inequality has grown for the first time in 25 years. This is defined as the gap between the Global North – the world’s developed, high-income countries mostly situated in the northern hemisphere – and the Global South, which describes developing and least-developed countries largely found in the southern ...