A lot of the world has recently been talking about inequality. Inequality, we know, is a fundamental cause of poverty – and a lot of people expect it to exist in the developing world in the poorest countries; but inequality is most prevalent in middle-income countries, and very high degrees of inequality are present in developed countries such as the US and the UK.
Numbers and data generated through Credit Suisse and indices such as the GINI index tell us how to what extent inequality has reached. Oxfam reported in the last fortnight that one percent of the global population owns more wealth than the rest of the world combined. Tax havens, corruption, labour to capital return, financial markets and the oil industry explain this somewhat.