This week The World Inequality Report 2022 was released. Look below for links to this very important research. Of course, none of us are surprised by this information – why would we be? It’s at the core of our global challenges and a problem we need to solve. Europe is the most equal region in the world, and it’s time to all be moving in that direction, or we will experience societal breakdown.
To give you a flavour for some of the data. When it comes to income, the richest 10 per cent of the global population currently earns 52 per cent of global income, whereas the poorest half of the population earns eight per cent of it.
However when it comes to wealth – the poorest half of the global population barely owns any wealth at all, at two per cent of the total. In contrast, the richest 10 per cent of the global population own 76 per cent of all wealth.
The report emphasizes that inequality is a political choice, not an inevitability. Income and wealth inequalities have been on the rise since the 1980s, following deregulation and liberalization programs which took different forms in different countries.
However, while inequality has increased within most countries, over the past two decades, global inequalities between countries have declined. So that is a little bit of good news.
Then again, while nations have become richer, governments have become poorer, leaving the totality of wealth in private hands. This matters, because the low wealth of governments has important implications for tackling inequality and climate change.
Since 1995, the share of global wealth possessed by billionaires has risen from one per cent to more than three per cent. And we know it increased during COVID. In fact, 2020 marked the steepest increase in global billionaires’ share of wealth on record.
One new element to the report, is equality. This should startle everyone.Women’s share of total income from work (this is paid work, not unpaid work) was close to 30 per cent in 1990. Today, we haven’t quite hit 35 per cent. If we want to claim a gender equal world, women would earn 50 per cent of all labour income.
Another critical piece addressed is climate inequalities.We must address inequalities in carbon emissions if we want to tackle climate change. The report states that global income and wealth inequalities are tightly connected to ecological inequalities and to inequalities in contributions to climate change.
The top 10 per cent of emitters are responsible for close to 50 per cent of all emissions, while the bottom 50 per cent produce 12 per cent of the total. The recommendation is climate policies must target wealthy polluters. However, so far, climate policies – such as carbon taxes – have disproportionately impacted low and middle-income groups, while leaving the consumption habits of the wealthiest groups unchanged. Note, that’s the bingo zone!
We’ve certainly got some work to do.
Friend’s content and mine
The Naked Artic Adventure – so proud of Stephanie Dickson and everyone in this film. I love the hope. Please watch it.
Challenges and Opportunities for Mono-Material Packaging Businesses in Asia Karen Prager published her first blog on LinkedIn and it’s a really insightful look into the packaging industry – one that creates a massive amount of waste.
Ladies, it’s time to claim our space in the world I loved doing this podcast with Simone De Haas. Ladies if you want to feel empowered, have a listen and let’s get to work!
But We Were Still Too Few – and also super proud to launch this video. A call to action to care for our earth and our fellow humans. It’s on every single one of us to walk the world with gentler feet. The wealthiest more so! Let me know what you think, and of course, if you love it, please do share it. We need billions on board.
If everyone gave #just10percent of their time, talent, money or voice, we’ll change the world. Can you donate? Make it a regular donation to the World Food Programme. Help us feed people in Phuket or donate to the UN Refugee Program, PowerOf , Kiva.org , Soi Dog Foundation. It’s a time for giving and taking care of each other.
Content to read
And here’s the content I’ve been reading this last week. Scan the headlines, read the ones that jump out at you, read or watch them all. Knowledge is power, and global knowledge is even more powerful.
World inequality report
11 brands called out for greenwashing in 2021 tks Hedvig Lyche
PM accused of lying after No 10 officials caught joking about Christmas party tks Andrew Psarianos
Until We Meet Again. Brian Williams Signs Off
Business and technology
Podcast: Lina Khan vs. Big Tech
The Price of Tomorrow | Jeff Booth + Andrew Yang | Yang Speaks – tks Robert Kirubi, great listen
Social issues and humanity
Michael Sheen turns himself into a ‘not-for-profit’ actor tks Graham Harvey
The Nuclear Family Was a Mistake – tks Denise Chai
Passion, humour, history
Work Begins Soon on Kilimanjaro Cable Car tks David Lim
Guinness World Records: Australian man breaks record for loudest burp EVER! – tks Andrew Psarianos
How a decade as an expat destroyed my Australian dream – tks Phillipa Edwards
Let me know what jumped out at you? Or share with me what you’re reading? I love that!
Uncommon Courage – my new book – is available
You can read the reviews, including a five-star review on ReaderViews, an excellent one on Booklife, and I’m collating reviews on my Website too. Have a look and grateful to everyone who has written or recorded one.
Come and join the conversation in my new Facebook Group Uncommon Courage.
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