Irony of wealth where 62 Richest people possess the same wealth as 3.5 billion of the poorest!
We all live in a society where inequality and disparity between distinctive human beings is a common phenomenon. One of the most simple reason for this is that we are not born in equal economic conditions. Secondly, people have unequal skill sets and abilities. Equality in one way or the other is a figment of imagination. One can’t run like a professional athlete, paint like a famous painter or sing like legendary singers. World economy is in depths of the few wealthy top business people and political leaders only. It is a chilling reminder of imbalance between the different sections of the society.
According to a survey, top 1% of the earth’s population controls more wealth than the rest of the world. Power and privilege are one of the sole reasons of increased gap between the richest people and the rest. Here are few of the reasons behind this irony of wealth where 62 richest people have the same wealth as 3.5 billion poorest!
1 Rich people getting richer
The economic imbalance and wealth gap is getting widened at an alarming rate than anticipated. Poor people are often poor because the organization system and environment around them, which does not let them grow. Even the system is tough on them. Rich people are richer because of the accident of birth or by concerned endeavors as well. By special knowledge and resources, they are able to overcome the shortcomings of the systems. It lets them work more efficiently and profitably.
Making a fool proof organizational system with fewer roadblocks and hurdles for the common men is the only way to check such imbalance. It includes more investment in infrastructure, workplace equality, rural innovations, sustainable growth and social structure etc.
2 Government Control
In most of the globalized economies, government puts a lot of restrictions in the market. In controlled market, there are more losers than winners. This is how many developed countries are able to produce so many billionaires.
It is more of like there is only one medical store in the town. Store owner can charge whatever he wants. Now if there are number of medical stores nearby, owners would be forced to compete for the customers. In some way, it will automatically let the owners to charge less. Particularly in developing countries, governments have a strong hold over many sectors. It not only prevents competition but also enables only few to get rich.
3 Flexible Laws and Vague Execution
In almost every country, economic laws are poorly designed and similarly executed. This allows few people to amount a huge black money in different estates. This leads tomost of the economic deals to be in the favor of few top business men and influential people only.
4 Unequal Distribution of Resources and Social Injustice
Lack of resources to the common men creates the disparity of wealth in most of the cases. Almost in half of the world, billions of people are living without even basic necessities of life like food, clothing, drinking water or home. The irony of wealth is the richest people are not even aware of such crisis existing among fellow humans.
5 Fewer Opportunities
More or fewer opportunities can both cause inequalities. The irony is, most of the developing countries have both of them. Say in education, only few people have the access to top colleges, universities or schools and can have a promising career. Without such opportunities, majority of the population is unable to have the fruits of knowledge. It also incarnates economic imbalance between different sections of the society.
Such is the grim face of humanity that some people have the best of the best amenities, whereas some do not get even the basic necessities!