Global Inequality: The Widening Chasm | Golden Age

Global inequality refers to the significant disparities in wealth, income, and access to resources between different countries, regions, and populations. According to a 2020 report by Oxfam, the world's richest 1% now own more than twice as much wealth as 6.9 billion people, with the top 0.1% holding over 20% of global wealth. The Gini coefficient, a widely used measure of income inequality, has increased from 0.54 in 1990 to 0.63 in 2019, indicating a significant rise in global inequality. The World Bank estimates that if current trends continue, over 600 million people will still be living in extreme poverty by 2030. The root causes of global inequality are complex and multifaceted, involving factors such as colonialism, globalization, and government policies. As the world becomes increasingly interconnected, addressing global inequality will require a coordinated effort from governments, international organizations, and civil society to create a more equitable and just global economy.