The document discusses rising global economic inequality based on several studies and reports. It finds that the wealthiest 1% own over half of the world's wealth, while the bottom half own less than 1%. The richest 85 people own as much as the poorest 3.5 billion. Factors contributing to rising inequality include globalization, privatization, technological changes, tax policies, and corruption in the form of tax evasion, trade mispricing, money laundering, and bribery. Developing countries lose an estimated $1-2 trillion annually due to these issues. Reducing corruption and recovering these losses could help prevent millions of deaths from lack of healthcare and investment in developing nations.
Presentation to the Workshop on Global Connections: UK and Global Poverty Solutions, Joseph Rowntree Foundation,
London
24th November 2010
Professor Tony McGrew, Strathclyde University
Presentation to the Workshop on Global Connections: UK and Global Poverty Solutions, Joseph Rowntree Foundation,
London
24th November 2010
Professor Tony McGrew, Strathclyde University
On the great disparity between the Global North and South Today. It also presents two schools of thought on the causes of disparity i.e., Classical Liberal Economic Theory and Dependency Theory.
Reference: Kegley
30 Nov 2011--(The Final Call) Africa must do for self in tuberculosis fightEconReport
Some analysts see African self-determination and eliminating dependency on foreign aid as the best solution to the problem. Deitric Muhammad, Chief Economist at MGE19 Economic Research & Structural Models, opines that Africa must accept the challenge and do for itself.
In an opinion piece posted on ModernGhana.com Mr. Muhammad raised the point, “What will African economies do once the U.S. dollar and the euro collapse? African economies are in a very vulnerable position because of their artificial dependency on external economies including China,” he wrote.
“Those who control the resources of Africa will become the next superpower for the 21st Century.” According to Ugandan “New Vision” newspaper, Ben Turok, former anti-apartheid activist, a South Africa Parliamentarian and Chairperson of the Network of African Parliamentarians warned that no amount of aid from multinational institutions like the World Bank would redeem the continent, unless African countries exploit their own natural resources.
FROM RECESSION TO THE GREAT DEPRESSION II LASTING TILL 2025 -- WHAT IS WRO...Dr. Raju M. Mathew
The Global Economic Crisis, started as Financial Meltdown, turned into Recession has grown to the dimension of 'The Great Depression II lasting at least till 2025, affecting the entire Humanity. The basic reason for the present Global Economic Crisis, growing to the level of The Great Depression II, the role played by the Nobel Laureates in Economics and Management Gurus in aggravating the Crisis and also its Solutions have been discussed. This is a Revolutionary approach and solution for the Global Economic Crisis. ,
On the great disparity between the Global North and South Today. It also presents two schools of thought on the causes of disparity i.e., Classical Liberal Economic Theory and Dependency Theory.
Reference: Kegley
30 Nov 2011--(The Final Call) Africa must do for self in tuberculosis fightEconReport
Some analysts see African self-determination and eliminating dependency on foreign aid as the best solution to the problem. Deitric Muhammad, Chief Economist at MGE19 Economic Research & Structural Models, opines that Africa must accept the challenge and do for itself.
In an opinion piece posted on ModernGhana.com Mr. Muhammad raised the point, “What will African economies do once the U.S. dollar and the euro collapse? African economies are in a very vulnerable position because of their artificial dependency on external economies including China,” he wrote.
“Those who control the resources of Africa will become the next superpower for the 21st Century.” According to Ugandan “New Vision” newspaper, Ben Turok, former anti-apartheid activist, a South Africa Parliamentarian and Chairperson of the Network of African Parliamentarians warned that no amount of aid from multinational institutions like the World Bank would redeem the continent, unless African countries exploit their own natural resources.
FROM RECESSION TO THE GREAT DEPRESSION II LASTING TILL 2025 -- WHAT IS WRO...Dr. Raju M. Mathew
The Global Economic Crisis, started as Financial Meltdown, turned into Recession has grown to the dimension of 'The Great Depression II lasting at least till 2025, affecting the entire Humanity. The basic reason for the present Global Economic Crisis, growing to the level of The Great Depression II, the role played by the Nobel Laureates in Economics and Management Gurus in aggravating the Crisis and also its Solutions have been discussed. This is a Revolutionary approach and solution for the Global Economic Crisis. ,
The fifth annual Global Wealth Report 2014 by the Credit Suisse Research Institute finds that from mid-2013 to mid-2014 aggregate global household wealth increased by 8.3% in current dollar terms to USD 263 trillion, despite an ongoing challenging economic environment. The analysis comprises the wealth holdings of 4.7 billion adults across more than 200 countries – from billionaires in the top echelon to the middle and bottom sections of the wealth pyramid, which other studies often overlook.
- Download the 2014 Global Wealth Report (PDF): http://bit.ly/1syUAv8
- Order the print version of the 2014 Global Wealth Report: http://bit.ly/11iQ1uL
Visit the Credit Suisse Research Institute website: http://bit.ly/18Cxa0p
#TimeToCare (India Supplement) | Oxfam IndiaOxfam India
With growing inequality, it has become pertinent to address the ever-growing gap between the rich and the poor. Over the last decade, academics, policymakers and multilateral institutions have been striving to draw attention to the growing importance of the subject of shared prosperity. https://www.oxfamindia.org/workingpaper/timetocare-india-supplement
The Credit Suisse Research Institute released its sixth annual Global Wealth Report, which focuses on how the middle class has developed since the turn of the century. It finds that the size and wealth of the middle class globally grew quickly before the financial crisis, but growth subsided after 2007 and rising inequality has squeezed its share of wealth in every region. In its analysis, Credit Suisse has taken a new approach to defining the middle class category, using a wealth-based definition – versus an income-based one – that allows for adjustments over time to reflect inflation, and also varies across countries depending on local purchasing power.
- Download the 2015 Global Wealth Report (PDF): http://bit.ly/1VPgIlc
- Order the print version of the 2015 Global Wealth Report: http://bit.ly/1K6hMVJ
Visit the Credit Suisse Research Institute website: http://bit.ly/18Cxa0p
A detailed review of the causes and effects of income inequality. Details on how extreme it is. Citation of many authors suggesting how it came about and what to do about it.
Act Local Please respond to the following in 2-3 paragraphsBased .docxbobbywlane695641
"Act Local" Please respond to the following: in 2-3 paragraphsBased on the two articles below, address the following:
What fundamental actions are at least two leaders of developing countries taking to improve the living standards of their people in terms of their economies, their political systems and their environments? Please give good response, DUE 6-11-15
· Development Shouldn’t Give Democracy the Cold Shoulder
· May 2013
· One of the strongest global trends today is the empowerment of citizens and their desire for dignity and freedom. As governments prepare for what should replace the Millennium Development Goals, they should take this into account. But don't hold your breath. Two recent surveys conducted by the United Nations to inform the discussion of the post-2015 agenda provide a striking demonstration of the widening gap between citizens and their governments.
·
· One of these is the U.N.-sponsored online survey known as My world. So far more than half a million citizens in 194 countries have voted in the survey, and the results show that "honest and responsive government" consistently ranks among the top three developmental priorities cited by respondents as desirable for their own countries. In the other survey undertaken among U.N. member state governments by the U.N. Secretary-General for the Open Working Group on Sustainable Development, "good governance" ranks bizarrely as only 25th out of 32 priorities listed. The disparity between the surveys' initial results are illustrative of a wider trend where citizens see democratic governance as a major priority, while governments don't. Keeping this in mind, there are two main reasons why the High-Level Panel report should make certain that it includes democracy in its recommendations for the new development framework.
·
· First, nothing matters more for development than national politics. As pointed out by Daron Acemoglu and James Robinson in their book Failed States, anyone who doubts the importance of national institutions and national policies need only look at the history of the two Koreas, which had the same economic starting point seven decades ago. Today, South Korea has a booming economy, high levels of education, and a life expectancy of 79 years, according to the World Health Organization. In North Korea, life expectancy is 64 years and the economy has stagnated under dictatorship. Open, democratic, and competitive politics with institutions that place constraints on power are far more likely to uphold the rule of law, protect property rights, and provide an inclusive market economy that limits corruption and provides opportunity for all.
·
· Second, this critical importance of national politics is only enhanced by the fact that trade, investment, and remittances are rapidly dwarfing traditional aid as vehicles for economic development. The world is waving goodbye to the old "donor-recipient" paradigm, in which the western world provides aid to support developi.
“Of all forms of tyranny, the least attractive and the most vulgar
is the tyranny of mere wealth, the tyranny of a plutocracy.”
Theodore Roosevelt, 1913.
one hedge fund manager can pocketed $ 1,3 bio (2014)!
This reminded me of a famous Wall Street joke – about a visitor to New York who admired the gorgeous yachts of the richest bankers and brokers. After gazing long and thoughtfully at these beautiful boats, the visitor asked wryly: “Where are the customers’ yachts?” Of course, the customers could not afford yachts, even though they dutifully followed the advice of their bankers and brokers.
globalisation, global corporations and global governmentHossein Davani
The purpose of this book is to critical power of multinational corporations those control politic, education system, wages and government. Multinational corporations (MNCs) are an economic, political, environmental and cultural force that is unavoidable in today’s globalized world. The powerful managers within multinationals, whose decisions affect thousands of workers, national economic, the environment and more, are not elected. New larger governmental institutions need to exist that can regulate business more widely, and therefore empower democracy .The heads of large companies have massive power over staff, employment, industry, national economies and the environment and yet are not elected nor publicly accountable for their actions. Supra –national organizations, staffed by those on the payroll of elected governments, empower democracy with renewed control
The purpose of this book is to explain what will happen in world economy specially emerging economy after 2020 till 2060.The book asks “What will the next four decades bring?” Based on several researches and forecasted has been done by famous economic research institute the world will bear a witness to raise new economic power and fall down traditional power. The outlook focused on several different key points except purchase parity power(PPP).
We emphasis PPP method is not reasonable and logical to compare different economic as capital is social relation so we need several factors to compare these relation, especially when we want to use "Super power" terminology in economic and political .The super power is not only word or sound but super power has some specific factors
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
World weal and unequalityth
1. What is happening to World Inequality?!
By: Gholamhossein Davani
Member of Association of Economists Professional British Columbia, Ca
Economic researcher
The three richest people in the world possess more financial assets than the lowest 48 nations combined!! And According to the New York Times on July 22, 2014, the "richest 1 percent in the United States now own more wealth than the bottom 90 percent and As already noted, global household wealth equates to 51,600 US dollars per adult, a new all- time high for average net worth in spite that more than half world population are living with less than $ 2 USD per day and The 85 Richest People In The World Have As Much Wealth As The 3.5 Billion Poorest !!
Every year, Forbes, Fortune, Merrill Lynch and other website and economic institution publishes world wealth, world Billionaires and world unequal report. It regularly shows the increasing inequality of wealth, with the super-rich, representing just 0.13% of the world’s population, owning 25% of all financial assets (stocks, bonds and cash in banks)! Most of these people did not get their wealth by clever deals or investments, or by hard work (God forbid!), but mainly by inheriting it. They just make more money and own more wealth because they had it in the first place. The UN found that the top 10% of the world’s population owned 85% of all wealth, including property. And one-quarter of these people were in the US alone. The poorest 50% own just 1% of the world’s wealth! And they say Marx was wrong about the ‘amiseration’ of the working class. Suisse credit report emphasis that despite a decade of negative real returns on equities, several equity bear markets and the collapse of housing bubbles, the 2013 Credit Suisse Wealth Report finds that global wealth has more than doubled since 2000, reaching a new all-time high of 241 trillion US dollars. Strong economic growth and rising population levels in emerging nations are important drivers of this trend. Average wealth per adult has also hit a new peak of 51,600 US dollars, but inequality remains high.I prepared below table that source were economic reports that shows from 1987 to 2013 inspire the world was involve in financial crisis several years in financial crisis ( 2002 and 2007till 2013) the number and total wealth of rich billionaires has been increased so much ( $B3500 to $B6400= 4.4 times) . the main reason of world inequality are as common factors thought to impact economic inequality include as, globalization, privatization, labor market outcomes ,corporate corrupt, corporate fraud, change to high technological ,policy reforms , more regressive taxation, plutocracy(Tax Haven& Off shore Company), dead of ethics , criminal capitalism , ethnic discrimination, gender discrimination, nepotism ,variation in natural ability, neoliberalism. Time magazine at March 25, 2013 wrote a September study from the Economic Policy Institute (EPI) in
2. Washington noted that the median annual earnings of a full-time, male worker in the U.S. in 2011, at $48,202, were smaller than in 1973. Between 1983 and 2010, 74% of the gains in wealth in the U.S. went to the richest 5%, while the bottom 60% suffered a decline, the EPI calculated. No wonder some have given the 19th century German philosopher a second look.
Comparative World Billionaires regional 1987-2013*
The economic research said that The three richest people in the world possess more
financial assets than the lowest 48 nations combined!! And According to the New York Times on July 22, 2014, the "richest 1 percent in the United States now own more wealth than the bottom 90 percent"-
Year
Total No.
North America
Japan
Europe
Asia pacific
Russian
China
Others
Total assets
$BUSD
1987
140
41
24
-
-
-
-
223
295
1990
169
99
40
-
-
-
-
30
542
1995
365
129
35
-
-
-
-
201
892
2000
470
49
43
87
-
-
-
291
898
2002
497
283
-
121
61
-
-
32
1500
2005
691
384
-
188
90
--
-
29
2200
2007
946
476
-
242
160
-
-
68
3500
2010
1011
464
-
248
234
62
-
65
3600
2012
1226
515
-
310
243
96
122
183
4600
2014
1645
540
27
340
349
111
152
74
6400
3. Source: http://www.vox.com
In spite that every year the rich wealth has been increase average 60% in past 2o years but world poverty also increased that the table shows world poverty in 2013
Region
% in $1.25 a day poverty
Population (millions)
Pop. in $1 a day poverty (millions)
East Asia and Pacific
16.8
1,884
316
Latin America and the Caribbean
8.2
550
45
South Asia
40.4
1,476
596
Sub-Saharan Africa
50.9
763
388
Total Developing countries
28,8
4673
1345
Europe and Central Asia
0.04
473
17
Middle East and North Africa
0.04
305
11
Total
5451
1372
4. Source: http://www.vox.com
According to last economic research the total world wealth in 2013 was about $B241,000 that comparison were North America ($B 78,800), Europe ( $B 76,000) , Asia Pacific includes China and India( $B73,800) , Latin America and carbon( $B9,000) , Africa( $B2,700) that 41% were belong to 1% world population and 86% world wealth is belong to 10% of top population. The special report said $B 98,000 are belong to 32 Million persons that more than 50% are living in United States and important notes of Oxfam report are as follow:
1- The wealth of the one percent richest people in the world amounts to $110 trillion. That’s 65 times the total wealth of the bottom half of the world’s population.
2- The bottom half of the world’s population owns the same as the richest 85 people in the world.
3- Seven out of ten people live in countries where economic inequality has increased in the last 30 years.
4- The richest one percent increased their share of income in 24 out of 26 countries for which we have data between 1980 and 2012.
5. In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.
.I believe Corrupt, Fraud , privatization and criminal capitalism are most tie with world wealth richest that you can look at richest man in emerging countries same Russia, India, China , Brazil , Turkey , Indonesia and Philippine that these countries have huge external and Internal debt and have must poverty population but number of Billionaires has been increased every year ! and in some country same Greece the total wealth of richest are more than 30% of GDP !!
that Tax Justice Network report has published in 2013 has emphasis that fraud is a branch of Corruption and I argue that fighting with fraud is part of corrupt fighting. The world's developing countries lost a total of $946.7 billion to corruption, trade misinvoicing and tax evasion in 2011, according to the research. And to make matters worse, the amount that gets spirited away is growing larger with each passing year. Money lost to corruption in developing nations was 13.7 percent greater in 2011 than was lost the year before; illicit outflows totaled $832.4 billion in 2010. The total figures are staggering: between 2002 and 2011, developing countries lost about $5.9 trillion to illicit outflows (Illicit Outflows from Developing Countries 2002-2011,” was released by Global Financial Integrity, a research and advocacy organization based in Washington, D.C). Especially Tax Justice Network in the index was launched on November 7, 2013.estimated $21 to $32 trillion of private financial wealth is located, untaxed or lightly taxed, in secrecy jurisdictions around the world. Illicit cross-border financial flows add up to an estimated $1-1.6 trillion each year. Since the 1970s African countries alone are estimated to have lost over $1 trillion in capital flight, dwarfing their current external debts of 'just' $190 billion and making Africa a major net creditor to the world. But those assets are in the hands of a few wealthy people, protected by offshore secrecy, while the debts are shouldered by broad African populations. All fraud research increasing alarm is just reminded fraud should not happen, but it does. It can happen from the highest to lowest levels in an organisation. Recent surveys by PricewaterhouseCoopers and Ernst & Young show that incidents of fraud have increased globally by 22% over the past two years and here in the UK the average corporate fraud costs a company some £200,000. The government estimates the annual cost of fraud to the UK economy is in the region of £14bn. As the world becomes more integrated the global dimension of inequality is likely to become increasingly relevant and In spite that there are many reasons for economic inequality within societies that said the main reason of world inequality are as common factors thought to impact economic inequality include as, globalization, labor market outcomes ,corporate corrupt, corporate fraud,privitization , change to high technological ,policy reforms , more regressive taxation, plutocracy(Tax Haven& Off shore Company), dead of ethics , criminal capitalism , ethnic discrimination, gender discrimination, nepotism ,variation in natural ability, neoliberalism.
6. Recently Economist Thomas Piketty, who specializes in the study of economic inequality, argues that widening economic disparity is an inevitable phenomenon of free market capitalism when the rate of return of capital is greater than the rate of growth of the economy but I believe that rising income inequality is structural to basic of capitalism since corporation increasingly substitute workers for capital equipment under competitive pressures to reduce costs and maximize profit and capitalist system would inevitably impoverish the masses as the world’s wealth became concentrated in the hands of a greedy few, causing economic crises and heightened conflict between the rich and working classes. “Accumulation of wealth at one pole is at the same time accumulation of misery, agony of toil, slavery, ignorance, brutality, mental degradation, at the opposite pole. Over the long- term, this trend increases the organic composition of capital, meaning that less labor inputs (workers) are required in proportion to capital inputs, increasing unemployment and increasing the size of the reserve army of labour. This process exerts a downward pressure on wages. The adoption of capital equipment for the substitution of labor (job automation) increases productivity per worker and thus profits for the capitalist class, resulting in a situation of relatively stagnant wages for the working class amidst rising levels of property income for the capitalist class. With above explanation that 99% in Occupy movement said Capitalism is collapsed, so we need new structure!! Might be we consider to quotes Supreme Court Justice Louis Brandeis, who said, ‘We may have democracy, or we may have wealth concentrated in the hands of the few, but we cannot have both.’
Conclusion:
According to new research is named” The Trillion Dollar Scandal report launched on 3rd September 2014” reported by The ONE Campaign) Illegal tax evasion, shady deals for natural resources and laundered money mean that a total of between $972 billion and $2.02 trillion flows out of developing countries every year. A significant proportion of the money from the trillion-dollar scandal ends up in offshore tax havens. ONE estimates that $20 trillion is held in such havens. If invested in health systems, revenues recovered according to economic research by ending the trillion-dollar scandal could:
Help avert 3.6 million deaths per year between 2015 and 2025 in low-income countries; Help avert 4.3 million deaths per year between 2015 and 2025 in lower-middle-income countries, putting the world on track to end preventable child deaths by 2030.11, Through the economic opportunities created, transparent, open data could add $13 trillion to the global economy by 2019 and contribute over half of the G20’s growth target. Newspaper circulation (534 million printed per day), it would take more than 5 years to sell 1 trillion papers. Counting to one trillion would take roughly 31,709 years (counting one number per second). $1 trillion could buy everyone on the planet a Starbucks latte every day for a month A
7. stack of one trillion one dollar bills would stand 67,866 miles high, or reach roughly a third of the way to the moon. Lined up end-to-end, a trillion one dollar bills would be 96,906,565 miles long, more than enough to reach the sun. $1 trillion is equivalent to the combined national incomes of Austria, Denmark, and Finland . $1 trillion would be enough to buy 8,928 F-35 fighter jets, the most costly plane ever built. $1 trillion is greater than the annual profits of the largest 86 public companies in the world, combined. 41.5% of company service providers approached to set up a phantom firm in the US required no identification whatsoever – 2.5 times the rate in other countries. 70% of the 213 biggest corruption cases between 1980 and 2010 involved anonymous shell companies. in 2014 money laundering globally was estimated to involve between $1.91 trillion and $3.64 trillion. UNODC suggests that “all crime proceeds appear to be generally higher in developing countries and tend to be laundered abroad more frequently”. ONE estimated the proportion of this estimate likely to relate to developing countries, using IMF statistics on the proportion of global GDP (purchasing power parity) originating in developing and emerging economies (50.8%),and used this ratio to calculate the likely scale of money laundering as estimated by UNODC originating in developing and emerging economies. We concluded that in 2014 the amount involved was likely to be between $972 billion and $1.853 trillion. Developing countries lose an estimated $100–$160 billion in tax revenues as a result of trade mispricing and an estimated $250 billion from illegal tax evasion each year. The global cost of money laundering in 2014 is estimated at between $1.91 trillion and $3.64 trillion. The global cost of bribery is estimated at between $600 billion and $1.7 trillion. ONE has taken a highly conservative estimate of the low-range costs of money laundering and bribery incurred by developing countries, at one-third of the global total. In this scenario, the cost of money laundering for developing countries is between $630 billion and $1.2 trillion, and the cost of bribery is between $200 billion and $560 billion. While there may be some overlap between these estimates, the use of highly conservative assumptions means the cost of corruption is likely to be underestimated rather than overestimated. If we aggregate the low range, the total comes to $1.18 trillion. Using less conservative assumptions of the proportion of bribery and money laundering relating to developing countries – two thirds – but still using low-range global estimates, the total could be as much as $2.02 trillion.
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*- Asia pacific and Europe were in other countries from 1987to 2000 and Japan were joined to Asia pacific from 2002.
Source:
1- www.iresearch.worldbank.org/PovcalNet/povDuplic.html
2- www.web.worldbank.org/WBSITE/EXTERNAL
3- www.www.bidnessetc.com
4- www.Forbes.com
5- www.Wikipedia.com
6- www.knoema.com