RAMPANT INEQUALITY
The problems of poverty, unemployment, illiteracy, squalor and inequality are very much interrelated. According to World Inequality Report 2022 the richest 10% of global population earned 52% of the global income while the poorest half of the population had to be satisfied with only 8.5% income. While average person from top 10% earned $123100 per year corresponding share of the lowest half of population was only $3920 per year. Global wealth distribution is all the more skewed with poorest half of global population getting mere 2 % as against top 10% of global population enjoying ownership of 76% of total global wealth. The share of the global top 1%in total income increased from 20% in 1820 to 26% in 1910,consequently dropping to 16%in 1970 and further rising to 21%in 2020.The share of income of global top 1% was three to four times larger than the share of bottom 50% between 1820 and 2020.The extent of inequality is moderate in Europe as against it...