While the polarization of wealth expands to its widest, this paper reminds that poverty is not about impersonal numbers and percentages, but about real people and communities. There are more rich people than ever before, and income disequilibrium has reached its widest in 40 years. The rich will have to tighten their belt by drinking cheaper champagne. But scholars say the slowdown of the economy will not threaten their wealth or life style very much. Global inequality has now reached a peak and will eventually recede to a more even distribution of wealth, reports the Financial Times .
Historical models prove it.
And should this fail to materialize, it is due to misgovernment . Current economic growth in India is exacerbating material inequality between the different states. While the Latin American economies recovered some of the ground lost in the 1980s, terrible inequalities persist. These are mostly due to misguided domestic policies that withhold education and tolerate corruption, the Times of India reports. A newly published study says that American middle-income families only profited slightly from the economic propserity of the 90 s. These families had to work harder just to keep up, and their accumulating debt sets off any improvement in their economic position.