World Insights Bringing You best of world at one placeEverything from terrorism to food insecurity has been labelled as a threat to democracy and stability at one time or another. Inequality between the rich and poor has always been near the top of this list and this point has been reiterated in a report released by Oxfam during the proceedings of the World Economic Forum.
It is a staggering statistic: the top 85 richest individuals of the world have more combined wealth than the poorest 3.5 billion. This, according to the report, has been used by the rich and powerful to develop mechanisms that ensure their continued good fortune by impacting democratic and economic mechanisms.
It has also lead not just to the accumulation of wealth but to opportunities in the hands of the richest few and their nearest and dearest. Poverty, says the report, will be nowhere near eradication if the issue of inequality is not dealt with.
The analysis has its critics, of course. It has been pointed out that many amongst these super rich have over the years used their wealth to make charitable contributions all around the world. Their business empires have been built through decades of hard work and have resulted in jobs for millions of people. Their companies have been responsible for developing technology and products that have improved standards of living.
Maybe, say critics, those poorest 3.5 billion of the world should take a good hard look at what they have done wrong in life rather than envying the wealth of those who worked for it.
Maybe they should. Right after they finish foraging for their next meal and secure some (relatively) clean drinking water. The richest few may not have amassed their wealth by stealing from the poor but there is no doubt that it is nearly impossible to escape generational poverty in many parts of the world. There is no access to the kind of education necessary for starting a successful business or even getting a steady job. There is no starting capital or family money or benevolent uncles to support young entrepreneurs.
Opportunities, if they ever do come knocking in the form of small business loans, are squandered by many. It is hard to have a long-term vision and to invest in your future when what you have known your whole life and the state of being you are used to, is poverty.
Many people are poor because there is not so much as a glass ceiling as a steel reinforced concrete barrier holding them down. Rich people may be benevolent but their businesses certainly are not. Globally, conglomerates continue to swallow up smaller competitors. The same few companies now seem to own everything, everywhere. Is it so hard to imagine then, that this is giving them immense power to influence politics and economic forces?
The gun lobby in America and its continued success is just one example of this obscene power. Every year, hundreds of preventable deaths occur in the country thanks to extremely lax gun laws. Yet, every effort to tighten gun controls even a little results in such media frenzy and arm twisting that the status quo is maintained without difficulty.
The world is not, nor has it ever been, a fair place. But whenever inequality reaches dangerously high levels, something in the system always gives way – often with unforeseen and bloody consequences. How long will it be before the 3.5 billion become tired of fighting over crumbs and decide to go after the pie instead?
by Asna Ali
