The Oxfam report on inequality
Date: 21 January 2022 Tags: Reports & IndicesIssue
Oxfam has released a report titled “Inequality Kills: The unparalleled action needed to combat unprecedented inequality in the wake of COVID-19”.
Background
The Covid-19 pandemic has heightened inequalities across the globe. The weakness of public health systems and social and income protections has been exposed.
Details
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For tackling the climate emergency, the report asks for sustained and immediate action to end the pandemic, address global inequality.
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Removing socially and economically marginalized people from political decision making enhances inequality and is a death sentence.
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The report also highlights that 160 million people were rendered poor during the pandemic and the top richest individuals doubled their income.
Important observations
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The study says that the emergency government expenditure provided to keep economy afloat during emergency boosted stock market and helped rich people increase their wealth.
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Many governments are also indulged in vaccine apartheid. This was due to the emergence of new strain of virus that had made vaccine non-usable.
Inequality kills
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Economic and political decisions are skewed in favor of the richest and most powerful people that cause direct harm to the vast majority of ordinary people worldwide.
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Higher inequality creates more harm and violence. The brunt of the violence originating is borne by vulnerable groups.
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About 20 million girls are at risk of losing access to education. The setback suffered by gender equality will take at least 135 years to correct.
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In terms of climate inequality, wealthiest 1% of humans are responsible for twice as many emissions as the poorest 50%.
Rectifying global inequality
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Vaccine formula has to be made open-source so that every qualified vaccine manufacturer can manufacture them.
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Solidarity taxes have to be imposed on businessmen that have profited during and because of the pandemic.
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Measures have to be taken to remove tax havens, tackle tax evasions and impose progressive taxation.
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The collected wealth needs to be used towards building income safety nets, universalising healthcare, investing in green technologies and, investing in protecting women from violence.