Scenario:
• The wealth of the one percent richest people in the world amounts to $110 trillion.
That’s 65 times the total wealth of the bottom half of the world’s population.
• Almost half of the world’s wealth is now owned by just one percent of the population.
• The bottom half of the world’s population owns the same as the richest 85 people in
the world.
• Seven out of ten people live in countries where economic inequality has increased in
the last 30 years.
• The richest one percent increased their share of income in 24 out of 26 countries for
which we have data between 1980 and 2012.
• In the US, the wealthiest one percent captured 95 percent of post-financial crisis
growth since 2009, while the bottom 90 percent became poorer.
Reversing economic inequalities:
The particular combination of policies required to reverse rising economic inequalities should be tailored to each national context. But developing and developed countries that have successfully reduced economic inequality provide some suggested starting points, notably:
• Cracking down on financial secrecy and tax dodging;
• Redistributive transfers; and strengthening of social protection schemes;
• Investment in universal access to healthcare and education;
• Progressive taxation;
• Strengthening wage floors and worker rights;
• Removing the barriers to equal rights and opportunities for women.
