Gap between rich and poor widening – and it’s not just us saying it
Blog by Christine McCartney, Oxfam Ireland
Inequality is rising – to the detriment of us all. You might expect an organisation like Oxfam to say that, but it’s not just us.
In the past year everyone from Barack Obama to Pope Francis, IMF chief Christine Lagarde to UN head Ban Ki-Moon have highlighted the dangers caused by extreme inequality and how it holds back billions of people from reaching their full potential and getting out of poverty.
We revealed earlier this year that 85 people in the world hold as much wealth as half of the entire population of the planet. Just this week, Credit Suisse reported the richest 1 per cent of the world’s population is getting wealthier, owning more than 48 per cent of global wealth, and warned growing inequality could be a trigger for recession.
There are those who argue that inequality is a good thing – it motivates people to work hard and those who are wealthy are simply enjoying the fruits of their labour.
The problem is the rules are rigged against the poorest and in fact against everyone except the wealthy, making equality of opportunity a myth. As writer and activist George Monbiot put it: “If wealth was the inevitable result of hard work and enterprise, every woman in Africa would be a millionaire.”
Inequality is not inevitable – it’s the result of years of deliberate policies and rules that have been rigged in favour of the few. But strategies to bring about economic recovery after the financial crisis have been skewed in favour of the wealthiest. In poor countries, rising inequality means the difference between children getting the chance to go to school and sick people getting life-saving medicines.
For prosperity to be sustained it must be shared more equally. To do that we need make the rules fair, rules like taxation, so that everyone pays a fair share and loopholes are closed. We campaign for basic healthcare and education to be provided for all – it’s a basic right and also means that everyone has a fighting chance in life. We need transparent and accountable government so that wealthy special interests can’t use their power to rig the rules. We know that these rules can be changed to benefit everyone, and that together, we can tackle inequality.