The report, titled Time to Care: Unpaid and Underpaid Care Work and the Global Inequality Crisis was published by Oxfam, the international nonprofit focussed on the alleviation of global poverty.
- 2,153 individuals, the number of billionnaires in the world in 2019, have more wealth among them than 4.6 billion people. The world’s richest 1% have more than twice as much wealth as 6.9 billion people.
- India’s richest 1% hold more than four times the wealth held by the 953 million who make up for the bottom 70% of the country’s population.
- This great divide is based on a flawed and sexist economic system” which has “accumulated vast wealth and power into the hands of a rich few, in part by exploiting the labour of women and girls. Globally, 42% of working age women are outside the paid labour force, compared with 6% of men, due to unpaid care responsibilities.
- Globally, extreme poverty rates are 4% higher for women than men; this gap rises to 22% during women’s peak productive and reproductive ages; that is, 122 women aged 25-34 for every 100 men of the same age group live in extremely poor households, largely due to childcare responsibilities.
- An additional 0.5% tax on the wealth of the richest 1% over the next 10 years can create 117 million jobs in education, health and elderly care, etc.
Source: The Hindu