(02-08-2016, 02:41 PM)lifegame Wrote: This question has been haunting my mind for quite a while a now. After all why there is so much of difference between rich and poor? The world’s wealth is concentrated only in the hands of a small portion of the population. On the one hand there are people who got no clue how to spend his enormous wealth and on the other hand some people find it really hard to have food at least twice a day. While some people enjoy life in luxurious huge bungalows, others sleep in footpath in chilling cold even without a blanket.
After all it is said that we all are children of God, then why there are two categories – the rich and the poor. The fact is that all socio-economic conditions are favorable for the rich to become richer and poor becomes poorer. It is indeed a vicious circle of poverty I believe.
In this perspective, World Bank assessment is mostly based on Gini index which calculates the distribution of income and wealth among people either within a community or between several communities or countries.To simplify the understanding of this concept, the Gini coefficient changes from 0 to 1, zero Gini means the best equality in wealth and income while Gini one means the worst.
Personally, I think there are many brilliant experiences among developed countries that could potentially help developing counties to manage their sustainable development in terms of wealth and income equality such as Sweden (Gini index = 27.3).
What do you think on this? Is solution to use their knowledge to reduce Gini index while keeping sustainable development?
