Global inequality crisis: Time to Care!
Time to
question! How do you celebrate wealth, when it continues to be so ‘unfairly’
distributed across the social hierarchy, and ‘invades’
individuals’ human right to ‘earn’ a dignified life in a ‘level playing field’? Wealth is a source of livelihood and everyone should have the right over it? Should we continue to ‘glorify’ people who accumulated vast fortunes at the expense of ordinary people and created
‘unequal’ world? Is it a reason why poverty still exists today.
“Our broken economies are lining the pockets of
billionaires and big business at the expense of ordinary men and women. No
wonder people are starting to question whether billionaires should even exist.” – Amitabh
Behar, CEO, Oxfam India.
‘Time to Care’
– Oxfam’s report released ahead of the World Economic Forum in Davos – reveals that
the world’s 2,153 billionaires have more wealth than the 4.6 billion people who
make up 60% of the planet’s population. Global inequality crisis has created a
‘widening’ gap between the rich and the poor.
Oxfam’s report
shows how ‘faulty’ global economies and ‘apathetic’ governments are fueling
the inequality crisis, enabling the ‘wealthy’ , to amass enormous wealth. This imbalance
has dissuaded ordinary people from acquiring economic independency and earn
better livelihood. Do you think wealth is created on its own with inclusive
growth principles and sustainable development goals? Absurd!
Delving
further into the crisis, the report shows how governments are massively
under-taxing the wealthiest individuals and corporations. The state or governments
have failed to distribute wealth hat could have helped tackle
poverty and inequality. On the contrary, they are under funding vital public
services and welfare works – poverty elevation, gender equality, investments in basic needs like water and sanitation, infrastructure, environment, electricity, education,
healthcare – that would provide economic independence and empowerment to people
and improve their quality of life.
It’s time! We
need to question wealth ‘monopoly’ and create a framework that allows flow
of wealth among the people with emphasis to control in 'money making' and curb ‘money laundering’. 'Welfare-structured economic
interventions with 'balanced approach' and governments’ responsibility to follow 'all-inclusive' financial and
monetary policies guided towards people’s prosperity will bridge the gap.
“The gap between rich and poor can't be resolved without deliberate
inequality-busting policies, and too few governments are committed to these. They must ensure
corporations and wealthy individuals pay their fair share of tax and increase
investment in public services and infrastructure. Prioritize care as being as
important as all other sectors in order to build more human economies that work
for everyone, not just a fortunate few. Governments created the inequality crisis
—they must act now to end it,” says Behar.
(Representational images: source)
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