Inequality and risk in 2020

The Global Risks Report 2020. World Economic Forum (WEF).

Concern about inequality underlies recent social unrest on almost every continent, although it may be sparked by different tipping points—such as corruption, constitutional breaches, or the rise in prices for basic goods and services. Although global inequality has declined over the past three decades, domestic income inequality has risen in many countries—particularly in advanced economies—and reached historical highs in some (Gaspar y García-Escribano, 2017). The OECD (2019) reports that “income inequality in OECD countries is at its highest level for the past half century.”30 Many of those protesting have long been excluded from their country’s wealth and share frustration that the elite have captured gains at the expense of others.” (WEF, 2020, p. 24).

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