Inequality in global wealth distribution contributes to the death of 21,000 people a day, the equivalent of one person every four seconds, says a new report by the global NGO Oxfam.
If these ten men were to lose 99.999 percent of their wealth, they would still be richer than 99 percent of all the people in the world, and would still have six times more wealth than the poorest 3.1 billion people. “We're seeing this incredible increase that we've never seen before,” Max Lawson, head of inequality policy at Oxfam International, told TRT World. “It really is astronomical, and there's a direct relationship between that and the huge amount of central bank and government financial intervention in the economy. Much of that money ended up leaking into the stock market, and driving up asset prices, as a result increasing the fortunes of billionaires.
Abolishing tax havens could pay for climate finance, to end gender-based violence by 2030 and alleviate hungerthat corporate tax dodging leaves governments across the world with a $200bn shortfall in revenue, more than twice the annual $100bn that rich countries have promised, but failed to deliver, to low- and middle-income countries in climate finance for mitigation and adaptation.
The pandemic has also set back the estimated time it will take to achieve gender parity by more than a generation, from 99.5 to 135.6 years. Women collectively lost $800 billion in earnings in 2020, losing their jobs at a higher rate than men due to being overburdened with unpaid care work, but also being more likely to be in precarious work.
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