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Article: Grotesque inequality. (United Nations Development Program's Human Development Report 1996)
- Article from:
- Multinational Monitor
- Article date:
- September 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 Essential Information, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The richest 358 people in the world - the global billionaire club - possess assets which exceed the combined income of countries accounting for 45 percent of the world's population.
That is the most startling finding in the United Nations Development Program's (UNDP's) "Human Development Report 1996," which concludes that income and wealth inequality is skyrocketing worldwide.
While almost all industrialized countries have experienced at least slow growth over the last decade and 15 countries, mostly in Asia, have registered spectacularly high growth rates in the last 10 years, 89 developing countries are poorer today than they were a decade ago, according to ...