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How much of the new wealth has the top 1% gained?
Since 2000, the richest 1% has captured approximately 41% of all new wealth, according to recent reports. This means that a tiny fraction of the population is accumulating a disproportionate share of global economic gains, leaving the rest behind.
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Why is worsening inequality a threat to global stability?
High levels of inequality can undermine social cohesion, fuel political unrest, and weaken democratic institutions. When wealth is concentrated in the hands of a few, it can lead to social divisions and economic instability, making it harder to achieve sustainable growth.
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What policies could help reduce the wealth gap?
Effective policies include progressive taxation, increased social spending, and measures to improve social mobility. Establishing a monitoring panel, similar to the climate change IPCC, could also help track inequality trends and guide policy decisions.
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Who are the biggest winners and losers in today’s economy?
The biggest winners are the ultra-wealthy and large corporations, who benefit from economic growth and inheritance transfers. Meanwhile, middle and lower-income groups often see minimal gains, with many struggling to keep up with rising living costs and limited social mobility.
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What is the role of inheritance in widening wealth gaps?
Over $70 trillion of inherited wealth is expected to pass down in the next decade, significantly widening the wealth gap. This transfer of wealth favors those already wealthy, making it harder for others to achieve economic mobility.
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Could creating a global inequality monitoring panel make a difference?
Yes, a dedicated monitoring panel modeled after the IPCC could systematically track inequality trends worldwide. This would help policymakers identify issues early and implement targeted strategies to promote fairer wealth distribution.