Glaring inequities in wealth and well being

21 Jan 2019

Glaring inequities in wealth and well being

Glaring inequities in wealth and well beingOxfam is confederation of 20 independent charitable organizations focusing on the alleviation of global poverty.

At the start of the Annual World Economic Forum in Davos, Oxfam shared a report, “Public Good or Private Wealth“, which had some of the below findings:

26 richest people of the world own the same wealth as the poorest (3.8 billion) half of the world. It was 43 people in 2017. This reflects higher concentration of wealth.
 	The billionaires’ fortunes rose by $2.5 billion per day in 2018. Since the financial crisis of 2008, the number of billionaires has nearly doubled.
 	According to the report, adding half a percent to taxes on the wealth of the world’s richest 1 percent would raise enough money to educate 262 million children and provide health care that would save 3.3 million lives.
 	The good news is that the number of people living in extreme poverty has declined. However rising inequality is jeopardising the progress.
 	India’s top 10% of the population holds 77.4% of national wealth and top 1% holds 51.53% of the national wealth.

Oxfam’s Executive Director Winnie Byanyima said at WEF Summit, “it is “morally outrageous” that a few wealthy individuals are amassing a growing share of India’s wealth, while the poor are struggling to eat their next meal or pay for their child”s medicines.”

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Share your observations on economic inequalities in the society and what do you think could be steps to eliminate the inequities. Write to us below or send an email to hello@curioustimes.com.

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