Economic inequality also known as the gap between the rich and poor is growing in frightening figures. Just more than a year ago a research from Oxfam International show’s that:
The richest 1% of the world have seen their share of global wealth increase from 44% in 2009 to 48% in 2014.
The 85 richest people in th planet have the same wealth as poorest 3,5 billion people combined together.
1% of population owns 48% of the worlds wealth. The remaining 52% of global wealth 46% is owned by the rest of the richest fifth of the worlds population.
“The extreme inequality isn’t just a moral wrong. We know that it hampers the economic growth and it threatens the private sector bottom line.” Says Winnie Byanyima, the Executive Director of Oxfam International.
Each day an estimated 2 billion people worldwide or 1/3 of the planets current population live in absolute abject poverty.
3 billion people in the world today struggle to survive on US $2 a day.
To satisfy the worlds sanitation and food requirements would cost only, $13 billion what the people of United States and European Union spend on perfume each year.
20% of people living on high income countries consume 86% of all world goods and services.
The wealth of 1% richest people in the world amounts to $110 tn or 65 times as much as the poorest half of the world.
“Widening inequality is creating a vicious circle where the wealth and power are increasingly concentrated in hands of few leaving the rest of us to fight over crumbs from the top table” Byanyima said.
$600 billion increase in wealth for 80 billionaires in last 4 years.
$750 billion drop in wealth for the poorest 50% of the world in last 4 years.
how to reduce inequality
1- Break down the barriers between the rich and the poor. We should get out of our comfort colective zone and build the bridges between communities and between individuals with different income.
2- Improve the public sector. Improve education system. Reduce the gap between the private schools and public schools, by improving public schools.
3- Rise the minimum wage and unify it with living wage. Only people living on National minimum wage knows what that means. Most the time they have to chose what bills to pay, as they can’t afford to pay all bills. The minimum wage should be raised and unified with living wage.
4- Tax the rich. We talking on making a fairer world.
5- Limit the amount of the money the rich can donate in election campaigns. The rich by donating large sums of money can affect politics.
6- Reduce unemployment and support the poor.