Something that is also Thailand Email List evident, according to this report, is that income and wealth inequalities have been increasing almost everywhere since the 1980s, following a series of deregulation and liberalization programs – neoliberal adjustments – that different countries adopted. with various modalities. This increase has not been uniform: in some countries (including the United States, Russia and India) inequality has seen Thailand Email List spectacular increases, while in others (in Europe and China) this increase was relatively smaller. These differences, according to the authors of the report, confirm that inequality is not an inevitable fatalism, but a Thailand Email List product of “a political choice”, a consequence of the model that is applied.
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On the other hand, and from a Thailand Email List historical perspective, “contemporary global inequalities are approaching the levels of the early twentieth century, at the height of Western imperialism,” says the study coordinated by the young French economist Lucas Chancel. In fact, the share of income currently captured by the poorest Thailand Email List half of the world’s population is roughly half of what it captured in 1820, before the great divergence between Western countries and their colonies. In other words, the researchers write, “there is still a long way to go to undo the global economic inequalities inherited from the high inequality in the organization of world production between Thailand Email List the mid-19th and mid-20th centuries.”
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The accelerated “privatization” of wealth Thailand Email List Another compelling conclusion from the Global World Inequality Report 2022 is that over the past 40 years, nations have become richer, while governments have become poorer. To understand this paradox, it is essential to assess Thailand Email List the gap between the net wealth of governments and that of the private sector. The share of wealth in the hands of public actors is close to zero or negative in rich countries, which means that all of the wealth is in private hands. This trend has been magnified by the Covid-19 crisis, during which governments have Thailand Email List borrowed, essentially from the private sector, the equivalent of 10-20% of Gross Domestic Product.