‘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 transplanted New Zealand Scots/Maori academic/grandmother/random singer and sometime activist, my life is shaped by a deep conviction of the necessity for active critical engagement in the multi-faceted global and local crises of being and survival of species that confront us in the 21st century, the urgency of re-visioning the meaning of thriving together, and the contribution of Indigenous knowledge systems to a truly sustainable and just global society.

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