Haves & have-nots: A yawning gap

There is nothing as agonising and debilitating as poverty and the pangs of hunger. And for those who struggle to eke out a living, the future looks bleaker as inequality widens the gap between the rich and poor with the billions piling up on one side and the deprived left to struggle in the abyss of poverty. ‘‘An imbalance between rich and poor is the oldest and most fatal ailment of all republics,’’ wrote Plutarch and it rings true even today as the world comes to terms with a report from Davos where the World Economic Forum’s annual meeting is on.

In its Inequality Report, Oxfam International contends that while the wealth of billionaires has seen a huge jump, the number of people living in poverty has barely changed since 1990. The wealth of billionaires will increase by $299 billion in 2024, said Oxfam adding that there will be at least five trillionaires within a decade from now. Ironically, the years before and after 1990 were tumultuous ones and saw the collapse of Left-leaning and socialist regimes, which were once regarded as a beacon of hope for the less fortunate struggling to climb the ladder of social and economic success. The phase since then has seen the rise of nationalist and right-leaning regimes wedded to capitalism and the free market, which had nothing to do with welfare economics or the dream of a more equitable society.

The latest developments in the United States where Donald Trump has already made clear his ‘MAGA’ ambitions, are indicators that one cannot expect generosity from a ruler whose interests are confined to the four frontiers of his nation. With immigrants already packing up to leave and jobs likely to shrink in the ‘paradise’ which the USA was, social strife and deprivation in the under developed world is likely to spiral as visa regulations get stricter. Ultra-nationalism and jingoism are growing across frontiers and the concept of a humanistic order based on justice, fairness, equality and freedom no longer holds sway as it did two or three decades ago. The global North or the rich world has been milking the South comprising underdeveloped countries with the flow of wealth uni-directional signifying a further drop in the quality of life of those in less fortunate countries. And what is likely to add to the rift between the developed and developing world is the tendency to resort to tariff barriers to stop the free flow of goods and services - something Trump has already hinted at when he aggressively spoke of tariffs on China and even Mexico and Canada.

His missives to BRICS nations on the currency issue point to a tendency to keep the US and its citizens on top even if the rest of the world wallows in poverty and is in dire need of funds for development. Ironically, another US president, who was more popular and charismatic than the ‘Don,’ had remarked with great sagacity six decades ago that ‘’If a free society cannot help the many who are poor, it cannot save the few who are rich.’’ It was none other than John F Kennedy, considered one of the greatest leaders America has ever seen who unfortunately fell to the bullets of an assassin.

Considering the path the US and Trump are set to embark on in the years to come, one can be sure of more inequality and suffering across the globe as richer nations close their frontiers and their minds to the pathos all around. It’s time the lesser developed world mulled ways and means to garner and share resources and develop on their own by forming powerful economic coalitions so that the rich and powerful are forced to soften their attitude of running roughshod over the interests of the poor and marginalised.