Income Inequality: An Issue That Affects Every Country
Though once seen as a diminishing issue among developed nations, income inequality remains a prominent topic of social discussion. Where the presence of a strong middle class once represented a rebuttal to the concern over excessive income disparity, recent years have seen this dynamic largely collapse. Wealth consolidation continues to collect fastest among already privileged segments, catalyzed by the same tech innovations that are stressing the economic viability of unskilled laborers against that of machines.
What’s the Goal?
UN’s goal #10 aims to reduce income inequalities within and among countries.
Why Does it Matter?
Policymakers and economic advisors regularly echo concerns that a failure to address worsening income inequality will eventually sabotage global social and economic growth. These concerns stem from historical reference points on the relationship between economic subjugation and political upheaval.
How Does Inequality Affect You?
With technological innovations in communication and transportation, the world is growing closer together. Local disasters and crises affect economies across the planet.
Can We Achieve This Goal?
We can and we should. Statistics show this is possible. From 2010 to 2016, in 60 out of 94 countries that recorded income data, the incomes of the poorest 40% of the population grew faster than the income of the entire population. Their incomes grew because political, economic, and social policies to reduce income inequality in these 60 nations were put in place and managed well.
How Can We Help?
We need to work together to end extreme poverty and hunger. We need to invest heavily in education, social programs, and decent jobs for those of working age. Governments need to address discriminatory laws. Developed countries need to ensure that developing nations are included in making decisions on global issues so that any solutions are more productive.
Goal 10 Facts & Figures
50% more likely
Women are 50% more likely than men to live below the median income
Five times higher
The cost of catastrophic health expenditures that persons with disabilities incur versus the average
Three times more likely
The odds that the women giving birth in rural areas are more likely to die than those giving birth in urban centers
Goal 10 Targets
- By 2030, promote the social, economic, and political inclusion of all, irrespective of age, sex, disability, ethnicity, race, origin, religion, or economic or any other status.
- Ensure equal opportunity by eliminating discriminatory laws, policies, and practices.
- Ensure enhanced representation for developing countries in decision making in global international economic and financial institutions.