Why is it in News?
- The 3rd edition reveals unprecedented inequality across income, wealth, gender, climate and territorial spheres.
- The report highlights alarming concentration of global wealth among the top 0.001% and calls for policy reform.
Important Points
- Published by World Inequality Lab.
- Top 10% own 75% of global wealth.
- Bottom 50% own only 2% of global wealth.
- Top 0.001% control 3 times more wealth than half of humanity.
- Female labour participation shows inequality with women working more hours including unpaid work.
- Wealthiest 10% account for 77% of emissions from private capital.
- Poorest half contributes only 3% in emissions.
- Huge income gaps between regions — €125 daily income in North America vs €10 in Sub-Saharan Africa.
- Report suggests progressive tax, gender parity and global financial reforms.