World economic inequality widens



The world’s 2,153 billionaires are reported to have more wealth than 60 per cent of the total popul6ation in the planet, which underlines the level of inequality. The report has come out from Oxfam, which shows the widened gap between the poor and the rich.

The study called “Time to care” notes that the number of billionaires has doubled in the last decade. As per the report of Oxfam International Study, the 22 richest men have more wealth than the whole women folk in Africa, which clearly shows the widening inequality between men and women.

The Oxfam report also states that making the rich to pay 0.5 per cent more tax for ten long years on their wealth would help in equaling investment to create 117 million jobs in various sectors.

Oxfam said that the rich and the billionaires are getting their wealth increased at the expense of the ordinary people. The governments were also not enough taxing the rich, the Oxfam argued.

The study also has given serious thoughts to the women and girls. It has said that women and girls benefit the least in the present system. Women and girls together put in 12.5 billion hours of unpaid care work every day. This means that they contribute at least 10.8 trillion dollars a year to the global economy. This is thrice the size of tech industry.

It also said that 42 per cent of the women are not getting employment as they are responsible for care giving works such as domestic works, nursing and a lot more.
They also noted that inequality has been created by the governments and as such they must take the initiative in bringing an end to it.


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