Expert panel says report on gap in global wealth between rich and poor highlights need for intervention by G20
More than $70tn (£53tn) of inherited wealth will pass down the generations across the world over the next decade, widening inequality and highlighting the need for intervention by the G20 group of leading nations, a group of economists and campaigners have warned.
In a report ahead of the G20 meetings in Johannesburg, hosted by the South African government later this month, the expert panel said the gap in global wealth between rich and poor will widen over the next decade without a permanent monitoring group such as the UN Intergovernmental Panel on Climate Change.
The Nobel prize-winning economist Joseph Stiglitz said the report, commissioned by the South African president, Cyril Ramaphosa, found inequality growing in more than eight in 10 of the world’s countries.
It will be interesting to see if the people that are seemingly some of the most critical of “boomers” are somehow magically any different than prior generations…once history’s largest wealth transfer in history has transpired.
Knowing human nature, and very critical of the notions commonly bandied about in conversations regarding “generations”, let’s just say I’m very dubious.
Yeah, I doubt it. People talk a big game, but at almost every opportunity they will chose convenience and price despite what they say, and there are few things more convenient than wealth and the ability to use money to make problems go away.