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Inequality and the Coming Storm
In recent decades, the wealth gap between a narrow upper class and the rest of the human population has become a gaping chasm, with far-reaching implications for most countries around the world. Rising inequality may be the greatest economic challenge of our time, but it’s not the first time human civilization has faced it.
MILAN – The world is becoming increasingly unequal, and at an astonishing pace. According to Oxfam, in 2010, 388 billionaires owned as much private wealth as the poorer half of the global population. By 2016, a mere eight people did. The Great Recession that followed the 2008 financial crisis has hit the vulnerable especially hard, while many of the gamblers who triggered it have grown wealthier.