Policy kept inequality in check, and policy changes let it run amok. This report once again makes it clear that profound policy changes are needed for things to fall back in place.
See below for 3 key lessons in 3 figures summarized by Thomas Piketty, Co-Director of the World Inequality Lab.
🔸 Key lesson 1: we observe an extreme level of wealth concentration across the world. The richest 10% own around 60-80% of wealth in the various world regions. The poorest 50% always own less than 5%. And wealth inequality has been rising after Covid.
🔸 Key lesson 2: women’s labor income share is far below 50% in every world region; at the global level in 2020 women’s share is about 35% (vs 65% for men); it has been rising since 2000 (33% for women, 67% for men), but the progress is very slow, and even negative in some regions
🔸 Key lesson 3: inequalites in carbon emissions are very high at the global level and within each country and world regions; the bottom 50% emitters have relatively reasonnable emission levels almost everywhere; the top priority should be to reduce the emissions of the top 10%
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Report published by World Inequality Lab ©World Inequality Lab
