There are currently 2,043 billionaires globally (value in dollars), and nine out of ten are men. Their wealth grew by $ 762 billion in one year. From 2006 to 2015, the income of the wealthiest people in the world recorded an increase of 13%, which is six times greater than the income of ordinary workers. The situation of women is challenging: according to the report’s data, women contribute about 10 trillion dollars to the world economy in the form of unpaid care work. In this article, we read about How many billionaires are there in the world?
How income inequality is measured and why it matters
In reality, Oxfam’s data reflects a similar picture to that provided by the latest global inequality report. According to the data of the “World Inequality Report 2018,” in fact, between 1980 and 2016, “the richest 1% absorbed 27% of the total global income increase while the poorest 50% obtained only half, that is 12% of the increase in total income “.
The indicator of social inequalities is called the Gini coefficient: on this scale, 0 equals no social inequality, and 1 is all income concentrated in the hands of one person. Countless data are taken into account in the calculation, such as those on work, statistics on education, poverty, health and nutrition, gender equality, etc.
Redistribution of Income
We have already talked here and here about how a correct redistribution of income is vital for the economy. Recently, even the International Monetary Fund has reiterated that it is not just a moral issue. A recent study of the IMF, quoted in the Oxfam report. Shows that “below a Gini coefficient of 0.27, redistribution harms economic growth; above this level, on the contrary, it has a positive effect “.
According to the Standardized World Income Inequality Database data, in 2014, there were 11 countries with a Gini coefficient lower than 0.27. Italy was not among them and many other European nations. They were, in fact: Belarus, Belgium, Czech Republic, Denmark, Finland, Iceland billionaires are there in the world, the Netherlands, Norway, Slovenia, Sweden, and Ukraine. Furthermore, as Oxfam points out, “economic inequality can have indirect effects on economic performance as it also associated with higher levels of terrorism, political instability and crime as well as lower levels of trust.”
So, despite having been talking about it for a while now. The gap between those who are rich and those who are not. Between the salaries of men and women, and between managers and their employees. Continues to be a problem for all countries in the world—, including Italy.
Income inequality in Italy of billionaires in the world
As reported by Oxfam, in 2016, Italy recorded a Gini coefficient of about 33 points. Occupying the 20th position in the ranking of European Union countries for levels of inequality of disposable income.
In 1988-2011, the wealthiest 10% of the population accumulated an income. More significant than that of the poorest half of Italians. Against an overall increase in national income of 220 billion dollars. Half of the rise (45%) has flowed towards 20% of the population.
Furthermore, while labor productivity has increased, wages have not grown at the same rate from 2006 to 2016. The gross disposable income of Italian households saw a net increase of 72.5 billion euros.
Yet, only “15.4% of this increase flowed towards the poorest half of Italian families. “Compared to a 40.4% share of the 20% increase in the highest income earners.
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