‘Deglobalization’ Is the Way to Reduce Inequality | Pablo Solon

The race of globalization is leaving the majority of the world’s population far behind. According to Unicef, the richest 20 percent of the population gets 83 percent of global income, while the poorest quintile has just 1 percent. This trend is getting worse. A new UNDP report called “Humanity Divided” estimates that 75 percent of the population lives in societies where income distribution is less equal now than it was in the 1990s, although global GDP ballooned from $22 trillion to $72 trillion.

For developing economies in Asia, the Gini coefficient — which measures income inequality on a scale from zero to one where one is worst — rose from 0.33 in 1990 to 0.46 in 2010.

Inequality corresponds with greater economic uncertainty, lower investment and high social tensions and political instability — with the potential for violence and conflicts between groups. It demolishes human rights for the vast majority, especially for vulnerable groups like women, children and the elderly…..

via ‘Deglobalization’ Is the Way to Reduce Inequality | Pablo Solon.

Author: Makere

A Maori/Scots New Zealander transplanted to Canada. Grandmother, academic, indigenous scholar, sometime singer, sometime activist, who cares passionately about our world.