World Inequality Report 2022 – UPSC Prelims

World Inequality Report 2022 
  • Purpose: The report is the most authoritative and comprehensive account available of global trends in inequality.
  • Findings:
    • Since the mid-1990s, the richest 1% captured 38% of wealth growth at the global level.
    • Richest 10% own around 60-80% of wealth and the poorest half systematically own less than 5% of the wealth.
    • Women, today, earn just one-third of all labour income in the world. This situation has increased since the 1990s but at a very slow rate. If we continue at this rate, the world needs to wait at least a century to reach gender parity.
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