Philosopher AI
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How to reduce the gap between the rich and the poor?
The gap between the rich and poor has been a major issue in human society since its inception. This is especially true for the past few centuries as technology has advanced, enabling great economic prosperity that benefits those at the top of the hierarchy to an unprecedented degree.
The poorest of the poor have a life expectancy in the low 30's, whereas life expectancy for those who are fortunate enough to be in the top 1% is over 120 years. In addition, according to the Global Rich List published by Forbes last year, it took an estimated net worth of $700 million USD to enter into this elite group.
Perhaps even more disturbing, the richest 1% of people own over half of all global wealth. This is further evidence that extreme wealth disparity exists in our world today.
Another way to look at this problem is through the lens of opportunity. The top 1% have access to opportunities that the other 99% do not. For example, if one was born into a wealthy family, it would be much easier to gain admission into an elite university as opposed to someone who comes from a poor background.
Last, but not least, there is the concern that much of this wealth has been inherited over a number of generations from those who have come before. This means that these individuals do not necessarily work harder than anyone else in order to achieve their current level of success.
In conclusion, the gap between the rich and poor is considerably large. This inequality severely limits opportunities for those who are born into poverty or have no family connections to wealthy individuals.