From Kenia to Germany, South Africa to the US, the gap between rich and poor has been rapidly increasing, and economic inequality has reached extreme levels .In the recent presidential election campaigns, Hillary Clinton, for example, wants to increase the taxes for Americans in the highest tax bracket in order to reduce the gap between rich and poor.
The World Development Report of 2006, published by the World Bank, states that seven out of ten people live in countries where the gap between rich and poor is greater than it was 30 years ago. Furthermore, a report released by Forbes Magazine recently calculated that the richest 85 people on this planet owned as much as the poorest half of humanity. If Bill Gates were to cash in all of his wealth, …show more content…
One reason for the ever-growing gap between rich and poor is that companies nowadays must compete with lower-priced Pakistani and Indian companies who pay their workers only a small fraction of the wage earned in the western world. As a result, many companies have outsourced their well-paid high-tech and manufacturing jobs to cheaper production locations in …show more content…
If revenues from taxes were distributed more equally, millions of people could be lifted out of poverty by government-funded projects.
A growing body of evidence has therefore demonstrated that economic inequality is associated with a range of health and social problems, including mental illness and violence. The US Billionaire and entrepreneur Nick Hanauer agrees with this argument, saying: “No society can sustain this kind of rising inequality. In fact, there is no example in human history where wealth accumulated like this and the pitchforks didn’t eventually come out. “
Inequality is becoming one of the top global risks for the future since it has negative consequences for the richest as well as the poorest people. Latin America – the most unequal and insecure region in the world has 41 of the world’s 50 most dangerous cities. Alongside many political factors, Syria’s fragility was also driven by rising inequality with falling government subsidies and public sector employment. Inequality surely does not lead to conflicts more than any other single factor, but it has become clear that its persistence triggers social and political tensions more
The World Development Report of 2006, published by the World Bank, states that seven out of ten people live in countries where the gap between rich and poor is greater than it was 30 years ago. Furthermore, a report released by Forbes Magazine recently calculated that the richest 85 people on this planet owned as much as the poorest half of humanity. If Bill Gates were to cash in all of his wealth, …show more content…
One reason for the ever-growing gap between rich and poor is that companies nowadays must compete with lower-priced Pakistani and Indian companies who pay their workers only a small fraction of the wage earned in the western world. As a result, many companies have outsourced their well-paid high-tech and manufacturing jobs to cheaper production locations in …show more content…
If revenues from taxes were distributed more equally, millions of people could be lifted out of poverty by government-funded projects.
A growing body of evidence has therefore demonstrated that economic inequality is associated with a range of health and social problems, including mental illness and violence. The US Billionaire and entrepreneur Nick Hanauer agrees with this argument, saying: “No society can sustain this kind of rising inequality. In fact, there is no example in human history where wealth accumulated like this and the pitchforks didn’t eventually come out. “
Inequality is becoming one of the top global risks for the future since it has negative consequences for the richest as well as the poorest people. Latin America – the most unequal and insecure region in the world has 41 of the world’s 50 most dangerous cities. Alongside many political factors, Syria’s fragility was also driven by rising inequality with falling government subsidies and public sector employment. Inequality surely does not lead to conflicts more than any other single factor, but it has become clear that its persistence triggers social and political tensions more