In keeping with my theme about economical issues that affect myself and my fellow classmates, among countless others, I want to discuss in further detail the issue of the inequality gap.
Last time I discussed that the raising of the minimum wage to $15/hour will not bridge the inequality gap, but may cause it to widen. It is still my stance that this is not the solution. Now I want to address the problem itself.
“The development charity Oxfam has called for action to tackle the growing gap between rich and poor as it launched a new report showing that 42 people hold as much wealth as the 3.7 billion who make up the poorest half of the world’s population.”
Not only that, 82% of the global wealth generated last year went to the wealthiest 1%.
To put this even more into perspective, 8 billionaires currently hold the same wealth as the poorest half of the world’s population.
Some will argue that free markets have helped over 100 million people rise out of poverty in the last year, and while this may be true, when we are talking globally, and this still is not enough.
In this week’s reading; Communication for Another Development, Quarry and Ramirez state, “We have come to believe that it is not communication that makes good development but good development that contains good communication.”
We need to do more, and we need to urge our governments to address this income gap.
OXFAM: “The power of people against poverty.” Please go to https://www.oxfam.org to read more about the cause and the efforts to end inequality.