Billionaires have Increased: Forbes. What Does it Fetch?

10:23 PM Our World 0 Comments

     

                        The Industrial revolution is the most predominant feature of 18th and 19th centuries and economic inequality  for 20th and 21st centuries. We must be proud that we have grown in economies but still the world is suffering with the most direful disease 'economic inequality'. It is not a farce stuff that 50% of the world's money is concentrated in the hands of just 1% of the 85 most richest people. Does this fetch glory to our world or does it removes the pallidness from the faces of poverty stricken?

Poverty is a widespread Disease The above image shows the Poverty  changes in different Regions

                   According to Forbes, total number of billionaires in the world have increased from 1125 in 2008 to 1426 in 2013 and then 1645 in 2014. We are proud that our economies have reached dizzying heights. Reports of world bank show that around 3 billion people live below the poverty line (below $2.5). This is high when compared to 1.2 billion poor people in 2005 (below $1.45 and it will be around 4.5 billion if  $2.5 is considered as standard) and 70% of the world's population may end up in this vicious circle by 2050 (UN Estimation).

                      Why should we concentrate on this? Yeah- that's the most obvious question. Inequalities in economies will have its impact mostly on developing and under-developed countries just wasting human power and capital. It is the most atrocious fact that millions of students drop down their education simply they lack money. This may drag many countries to crisis  and even pressing down the conversion of over population in countries like India and China to a powerful man force. There had been a remarkable decrease in life expectancy in countries whose economic standards have severely fallen down later (Zimbabwe and Somalia).  Developed countries don't have exceptions to this contagious infirmity as trades and foreign investments come down leading to economic inequality in their own countries.

The above image shows that there had been increase in poverty and Inequality despite increase in standard poverty line

                        

                       To do with poverty, eliminating inequality is the only choice. It cannot be done just by pushing the taxes up, but also promoting the basic needs (also education) to all countries in all countries. Hike in labor wages, decreasing the gaps between currencies, promoting foreign investments, creating employment opportunities, etc. does the trick. GDP's of the nations must be properly utilized and the success stories of China and Vietnam proves this. 

                       More the increase in an increase in economic inequality, more is the poverty. Corruption and inconsistency in privatization add up fire to this. Most of the countries discerned the importance of equality and making  steps ahead, looking for a brighter future. Let us hope that one day this world would be free from this catastrophic epidemic.