Economic inequality is the difference found in various measures of economic well-being among individuals in a group, among groups in a population, or among countries.
- The world is becoming increasingly unequal: The richest 1% now have more wealth than the rest of the world combined.
- Studies show that throughout centuries the rich have managed to stay rich or become richer
- Scandals and leaks like the Panama Papers have revealed how massive amounts of wealth are being systemically stored away in tax havens
- On the other side, the wealth and income of the bottom half has steadily been decreasing in the last couple of decades
- Inequality is not only rising between groups of individuals within countries but also between countries themselves - this is expected to continue due to the prevalence of developed economies and their needs
- Advances in new technologies (e.g. AI, Robotics) could further drive unemployment rates and global inequality
- However, people sense there is something wrong with the dominant model of economic progress and are hungry for an alternative narrative
Read this to shift your mind
Simple but informative overview of facts and figures regarding income and wealth inequality in the U.S.
Great article about the perception regarding inequality, what's causing it and its implications
Explains the root cause of rising inequality - Neoliberalism
Oxfam's January 2016 report on the state of inequality in the world
Associated Trends and Topics
# Neoliberalism: Enhancing the role of the private sectore in the economy through economic liberalization policies [read more]
# Automation: The technique, method, or system of operating or controlling a process by highly automatic means, reducing human intervention to a minimum [read more]
# RacialEquality: An equal regard to all races [read more]
# GenderEquality: The view that everyone should receive equal treatment and not be discriminated against based on their gender [read more]
# BasicIncome: An income unconditionally granted to all on an individual basis, without means test or work requirement [read more]
# Globalisation: The process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange [read more]