Wealth inequality has become an increasingly more talked about subject. The global economy is doing poorly and everyone knows it. There has been much talk about the solution, but not a whole lot about the problem.
The problem is this: The wage gap is absolutely disgusting. It is a physical representation of the needs of the few being pedestaled above the needs of the many. Just how disgusting is the gap? The top twenty percent of the world owns a massive 94% percent of the global wealth. This leaves a mere 6% of wealth for 80% of the planet. Perhaps even more grotesque, the richest 2% control more wealth than half the planet.
Wealth inequality is truly the plague of humanity. It produces greed. It destroys global community. It worships the almighty dollar. While billionaires sit afloat their private yachts and break records for being more gluttonous than each other, no less than 5 million children will die of starvation this year.
This greed is cyclical. The wealth-hoarding of the few leaves billions uneducated, homeless, and hungry. So many are not even granted a chance at survival let alone success.
The United States, the most powerful country in the world, has nearly the same disproportionate wealth distribution as the planet as a whole. The bottom 80% only own 7% of the wealth. But still, the United States is considered "wealthy". By many standards it is. Branko Milanovic of the World Bank estimates "An American having the average income of the bottom US decile is better-off than 2/3 of world population."
Many of the "rich" countries claim to offer humanitarian aid to poorer countries in need. This is simply not true. Rich countries offer approximately $130 billion in aid each year. This sounds like quite a sum of money. Unfortunately, corporations and governments located in the wealthy countries are literally robbing the poorer countries of $2 trillion dollars a year. This is due to unfair trade restrictions (resource gathering and labor) , huge interest-saturated loans, and tax evasion via trade mispricing.
Massive corporations disregard human life for a profit. This is unacceptable. We as a species cannot forsake our fellow humans in the name of profit. The needs of the few cannot be greater than the needs of the many. Every single problem this planet faces is a result of the idea that money is essential for survival. We must wean ourselves from currency and competition. We must find a better way.
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