The report, titled Time to Care: Unpaid and Underpaid Care Work and the Global Inequality Crisis was published by Oxfam, the international nonprofit focussed on the alleviation of global poverty. ECONOMIC INEQUALITY
Some snapshots from the report:
- 2,153 individuals, the number of billionnaires in the world in 2019, have more wealth among them than 4.6 billion people. The world’s richest 1% have more than twice as much wealth as 6.9 billion people.
- India’s richest 1% hold more than four times the wealth held by the 953 million who make up for the bottom 70% of the country’s population.
- This great divide is based on a flawed and sexist economic system” which has “accumulated vast wealth and power into the hands of a rich few, in part by exploiting the labour of women and girls. Globally, 42% of working age women are outside the paid labour force, compared with 6% of men, due to unpaid care responsibilities.
- Globally, extreme poverty rates are 4% higher for women than men; this gap rises to 22% during women’s peak productive and reproductive ages; that is, 122 women aged 25-34 for every 100 men of the same age group live in extremely poor households, largely due to childcare responsibilities.
- An additional 0.5% tax on the wealth of the richest 1% over the next 10 years can create 117 million jobs in education, health and elderly care, etc.
Source : Indian Express