Inequality is the biggest challenge facing the world, say experts

Dina Rickman@dinarickman
Monday 10 November 2014 12:00

Inequality is the biggest challenge facing the world next year, according to a new report from the World Economic Forum.

Their 2015 outlook on the global agenda is a perspective on the major trends and challenges that will face the world over the next 12-18 months devised from a survey of 1,767 people from the world of business, academia, and government across the world leaders.

Of inequality, the World Economic Forum point out:

In developed and developing countries alike, the poorest half of the population often controls less than 10 per cent of its wealth. This is a universal challenge that the whole world must address.

How the percentage share of national income of the richest 1 per cent has changed over time

Source: F. Alvaredo, A. B. Atkinson, T. Piketty and E. Saez, 2013. ‘The World Top Incomes Database’

These were the top 10 trends identified.

1. Deepening income inequality

2. Persistent jobless growth

3. Lack of leadership

4. Rising strategic competition

5. The weakening of representative democracy

6. Rising pollution in the developing world

7. Increasing occurrence of severe weather events

8. Intensifying nationalism

9. Increasing water stress

10. Growing importance of health in the economy

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