Wealth Inequality is one of the most pressing challenges of our times. Wealth, and therefore power, is increasingly in the hands of a few, widening the gap between the haves and the have-nots.
To this day, the bottom 50% of world's population own less than 2% of global wealth, while the top 1% owns 38%[1]. The existing trend has been further exacerbated by COVID 19 pandemic.This widening gap inevitably hamstrings sustainable economic growth, hindering societies from flourishing while leading to social instability.
The unequal distribution of wealth acts more fundamentally than mere income inequality. People without wealth not only lack financial resources, but they also lack opportunities and network. Without this so-called social capital, under-resourced people are deprived of ways to move up the social ladder, improving their prospects and quality of life.
The Wealth Inequality Initiative Glossary is a living resource which is being fed regularly and progressively in collaboration with COES.
