Editorial
Wealth around the world is increasingly concentrated in the hands of a select few, and the pace is alarming. By 2030, it is projected that the richest 1% will possess two-thirds of all global wealth. This rapid growth in inequality not only leads to immense political influence and power but also undermines democracy and distorts policy-making.
The division between the rich and the rest of society is anything but peaceful. It’s a powder keg filled with resentment and hostility, ready to erupt at any moment. Income and wealth inequality, rooted in the unfair socio-economic ideology of Neoliberalism, are prevalent in every country and breed social injustice.
In the UK, inequality is particularly high compared to other developed nations. The bottom 20% of households have significantly lower income compared to the top 20%, and the wealth gap is even more alarming, with the richest 20% holding the vast majority of the country’s wealth.
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This inequality has serious and far-reaching impacts on individuals and society as a whole. It leads to educational disparity, limited opportunities, and heightened social tensions. More importantly, it threatens social harmony by fostering extremism and terrorism, impeding peace and stability.
Addressing wealth and income inequality necessitates not just policy changes, but a fundamental shift in our attitudes and priorities. We must move away from competition and division and towards cooperation, social responsibility, and unity. Sharing resources more fairly, both globally and nationally, is crucial for creating a just and equitable society. These values should guide political decision-making and socio-economic structures to eliminate extremism and promote social harmony and peace.
