The rich get richer: Economic inequality out of control

The rich get richer

The rich get richer

In 2019, the world’s billionaires, only 2,153 people, have more wealth than 4.6 billion people. The world’s richest 1% have more than twice as much wealth as 6.9 billion people. This is according to Oxfam's annual report on global inequality.

The very top of the economic pyramid sees trillions of dollars of wealth in the hands of a very small group of people, predominantly men. Their wealth is already extreme, and our broken economy concentrates more and more wealth into these few hands.

In pic: Jeff Bezos, Bill Gates, and Warren Buffett

Dear Indians

Dear Indians

In India, the richest 1% hold more than four times the wealth held by 953 million people who make up for the bottom 70% of the country's population.

Women and girls put in 3.26 billion hours of unpaid care work each and every day—a contribution to the Indian economy of at least INR 19 lakh crore a year; which is 20 times the entire education budget of India in 2019.

In pic: Kotak Mahindra Bank MD & CEO Uday Kotak, Aditya Birla Group chairman Kumar Mangalam Birla, Tata Sons chairman N Chandrasekaran and RIL chairman Mukesh Ambani

Taxing riches

Taxing riches

Taxing an additional 0.5% of the wealth of the richest 1% over the next 10 years is equal to investments needed to create 117 million jobs in education, health and elderly care and other sectors, and to close care deficits.

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