The truth about extreme global inequality

The crisis of capital, the rise of the Occupy movement and the crash of Southern Europe have brought the problem of income inequality into mainstream consciousness in the West for the first time in many decades. Now everyone is talking about how the richest 1 percent have captured such a disproportionate share of wealth in their respective countries. This point came crashing home once again when an animated video, illustrating wealth disparities in the US, went viral last month. When an infographic catches the attention of tens of millions of internet users, you know it is hitting a nerve.

But the global scale of inequality remains largely absent from this story. So we at /The Rules decided to put together a video that would give it some attention.

While this information is not new, it is still startling. In the video we say that the richest 300 people on earth have more wealth than the poorest 3bn – almost half the world’s population. We chose those numbers because it makes for a clear and memorable comparison, but in truth the situation is even worse: the richest 200 people have about $2.7 trillion, which is more than the poorest 3.5bn people, who have only $2.2 trillion combined. It is very difficult to wrap one’s mind around such extreme figures.

Jason Hickel

Al Jazeera, Qatar

Click here for the full story

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2 thoughts on “The truth about extreme global inequality

  1. And the underlying problem is that, without any change in the status quo, the wealth distribution will only become more unbalanced, which will mean more poverty and poverty related issues. Governments must address these issues or this unbalance will, ultimately, be the end of any notion of society.

    • I agree with you, the current status quo of our capitalistic society is unsustainable. It has its good sides, of course but I feel like it is being pushed way out of proportion. The system has become dependent on over production and this makes the rich get richer than ever and the poor poorer with no end in sight. Wealth inequality has increased exponentially in the last 20 years alone.

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