The World Inequality Report 2022

Abstract

The world remains highly unequal in income and wealth, despite the decline of international inequalities in recent decades. The share of global income captured by the bottom 50% of the population is only 8.5%, while the richest 10% hold 76% of global wealth. This inequality is driven by both between-country and within-country disparities. In the 19th and early 20th century, colonial empires and unequal economic and political systems contributed to growing inequalities both between and within countries. The rise of welfare states in the mid-20th century led to a decline in within-country inequalities in most high-income countries, but since the 1980s, these have been rising again. This has partially offset the decline in between-country inequalities, leading to a stabilization of global inequalities. Global carbon inequality is similarly pronounced, with the top 10% of emitters responsible for nearly half of all emissions. The report emphasizes the role of progressive wealth taxes and international cooperation in reducing income and wealth inequality. It also highlights the need for a global asset register and a minimum tax on multinational profits. – AI-generated abstract.