Global Income Inequality

Global income inequality is a pressing issue, widening the gap between rich and poor and leading to social, political, and economic instability. One of the key causes is the unequal distribution of resources. Currently, the wealthiest individuals control 38% of the world’s wealth, while the poorest hold a mere 5%. This disparity continues to grow.

Globalisation has further intensified income inequality. While it has expanded trade and created new economic opportunities, it has also led to labour exploitation in low-wage countries. Additionally, tax policies that favour the wealthy have exacerbated income inequality, allowing the rich to accumulate more wealth while the poor struggle to meet basic needs.

Addressing this challenge requires global cooperation. Implementing progressive taxation—where higher earners contribute more—can help reduce income inequality. International collaboration is also necessary to establish fair economic policies and ensure a more equitable distribution of wealth.

SUMERA AMAN,

Hub.

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