It is safe to say that global inequality has declined but only in its surface since the topic has just started to be discussed in popular for a couple of years recently. This is mainly due to the fact that people rely on data in order to address this topic and since this hasn’t been provided or accumulated on a regular basis, global inequality has had its problems when it comes to people grasping its nuances.
Globalization and its effects will also spread global inequality and the focus solely on wealth inequality gas to change. People also perceive standards of living in different ways, and this is particularly relevant when foreigners visit a country.
But that is not to say that wealth inequality should be neglected entirely since there are a lot of ways through which these factors has an influence over the general inequality trend.
Scholars have often questioned the magnitude with which the unequal wealth distribution will affect people globally.
There are also political implications when it comes to increasing inequality since political institutions will discourage the poor from participating which will affect how they can get access to amenities provided by the government such as education and health.
Another way that diminishes the poor is when inequality perpetuates the rich to get even wealthier and thereby gain as well as compromise political laws.
The above points are highlighted due to the fact that these are the aftermath of economic disparity.
Some of the most popular forms of global inequality are discussed below
1. Income inequality
Income inequality is a very strong factor that people take into account when they talk about global inequality in general. This is also backed by numbers since 20% of the wealthiest people in the world have an income that encompasses nearly 90% of the global income. This, when compared to 20% of the poorest, is in stark contrast. It is also quite shocking to know that 40% of the poorest have only been able to increase their income by 1% in 17 years.
Education has been rightly understood as a right for quite some time, but that hasn’t quite helped the situation since the disparity among the youth in how easily they can get an education has remained a constant.
Inequality is experienced the most by children since they often find it hard to get an education, income or even healthcare that, at the very least, serves the purpose.