"More than $70tn (53tn) of inherited wealth will pass down the generations across the world over the next decade, widening inequality and highlighting the need for intervention by the G20 group of leading nations, a group of economists and campaigners have warned."
"The report said 83% of all countries, accounting for 90% of the world's population, met the World Bank's definition of high inequality. It added that countries with high inequality were seven times more likely to experience democratic decline than more equal countries."
"Inequality is a betrayal of people's dignity, an impediment to inclusive growth and a threat to democracy itself. Addressing inequality is our inescapable generational challenge. This report lays out prudent and pragmatic steps we can take to reduce it."
More than $70tn (US$53tn) of inherited wealth will pass to heirs worldwide over the next decade, substantially concentrating assets and widening inequality. Inequality is growing in over eight in ten countries and 83% of nations, representing 90% of the global population, meet the World Bank's threshold for high inequality. Countries with high inequality are seven times more likely to experience democratic decline than more equal countries. The G20 has a strategic role to convene policy responses, and a permanent high-level monitoring panel is proposed to track inequality and recommend pragmatic steps to reduce disparities.
Read at www.theguardian.com
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