Wealth Distribution Inequalities

A report from the World Institute of Development Economics Research at the UN University, says that the poorer half of the world’s population own barely 1% of global wealth.

Emphasising the unequal distribution of wealth it is also noted that the richest 2% of adults in the world own more than 50% of all household wealth.

The comprehensive report deals with all the countries in the world through either recorded data for the year 2000 or estimates based on statistical analysis.

Wealth is defined as the net amount that people own, less any debts that they owe. The assets include land, buildings, animals and financial assets.

Wealth is skewed geographically being concentrated in North America, Europe and Japan and Australia with these countries accounting for 90% of household wealth. In these nations, landowners can afford not to farm their properties and use them for leisure activities.

In less developed nations, land and farm assets are far more importantbeing used mainly for agriculture in those economies.