Economists Urge Action on Global Inequality

On November 14th, a coalition of over 500 economists and scientists, including former Federal Reserve Chair Janet Yellen and Nobel laureate Daren Acemoglu, issued a dire warning about global inequality. They propose establishing a new international body, similar to the UNs climate panel, to address this issue. The economists concerns are backed by a G20 research committees findings, which reveal that the wealthiest one percent accumulated 41% of new wealth between 2000 and 2024, while the bottom half gained just 1%. This growing disparity, they argue, is not only an economic issue but also a political one, with high inequality linked to a sevenfold increase in the likelihood of democratic decline. Nobel laureate Joseph Stiglitz suggests that politicians should focus on everyday concerns like housing, food, transport, and healthcare to address these issues and foster a more united society.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.