February 3, 2019

Ways To Reduce Global Economic Inequality

 

LEATHER TRAVEL WALLET 

Many of us are concerned about the economy. The economy impacts our jobs, our household incomes and our futures. One issue that always stokes fervent debate is global economic inequality. The gap between the developed and developing worlds is closing, but there is still a chasm between the wealthiest and the poorest countries. Inequality is also not an issue that is confined to developing and developed nations. It’s also a national problem, with 1% of people owning 40% of national wealth. In light of this, this infographic explores the causes of economic inequality and measures that can be employed to promote and encourage parity. 

The two most significant causes of economic inequality include high returns that exceed overall economic growth and a decrease in global population growth rates. The world’s population is increasing, but the rate of growth has slowed considerably. In 1960, the rate was 2.1%. By 2100, it could be as low as 0.1%. The combination of high investment returns and slow population growth exacerbates inequality. 

The rise of international trade has also impacted individual countries. In the US, for example, the growth in exports, particularly to China, has benefited the wealthiest, but squeezed wages for the middle classes. 

Income inequality is a threat, so how can it be dealt with? According to the infographic, there are several strategies that can help to bridge gaps, including increasing income tax rates for the richest members of society and enforcing a living wage. Additionally, governments can create democratic, fair and transparent trade policies and clamp down on illegal activity. It is also thought that a decline in union membership in the last 40 years has contributed to increased inequality. 

Many of us are concerned about the economy. The economy impacts our jobs, our household incomes and our futures. One issue that always stokes fervent debate is global economic inequality. The gap between the developed and developing worlds is closing, but there is still a chasm between the wealthiest and the poorest countries. Inequality is also not an issue that is confined to developing and developed nations. It’s also a national problem, with 1% of people owning 40% of national wealth. In light of this, this infographic explores the causes of economic inequality and measures that can be employed to promote and encourage parity. 

The two most significant causes of economic inequality include high returns that exceed overall economic growth and a decrease in global population growth rates. The world’s population is increasing, but the rate of growth has slowed considerably. In 1960, the rate was 2.1%. By 2100, it could be as low as 0.1%. The combination of high investment returns and slow population growth exacerbates inequality. 

The rise of international trade has also impacted individual countries. In the US, for example, the growth in exports, particularly to China, has benefited the wealthiest, but squeezed wages for the middle classes. 

Income inequality is a threat, so how can it be dealt with? According to the infographic, there are several strategies that can help to bridge gaps, including increasing income tax rates for the richest members of society and enforcing a living wage. Additionally, governments can create democratic, fair and transparent trade policies and clamp down on illegal activity. It is also thought that a decline in union membership in the last 40 years has contributed to increased inequality. 


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