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Sunday Adelaja'sBlog

YOU ALREADY HAVE THE GREATEST WEALTH AT YOUR DISPOSAL {PART 2}

from: 28 . 05 . 19
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THE RECORD HIGH GAP BETWEEN THE RICH AND THE POOR

The wealth gap between the wealthy and everyone else has reached record high levels since the economic recovery from the Great Recession of 2007-2009, with a clear trajectory of increasing wealth for the upper-income families and no wealth growth for the middle- and lower-income families.

A new Pew Research Center analysis of wealth finds the gap between the upper-income and middle-income families have reached its highest level on record. In 2013, the median wealth of the nation’s upper-income families ($639,400) was nearly seven times the median wealth of middle-income families ($96,500), the widest wealth gap seen in 30 years when the Federal Reserve began collecting these data.



In the same light, between developed and developing countries, one can identify a variety of differences. This differentiation of countries, as developed and developing is used to classify countries according to their economic status based on per capita income, industrialization, literacy rate, living standards, etc. IMF and World Bank have statistical measures for the convenience of classification.

Developed countries have industrial growth and enjoy flourishing economy. Developed countries experience marked development and growth in the areas such as transportation, business, and education. Developed countries are not characterized by shortcomings. They are well-developed in all fronts and are served well by water supplies, amenities, educational institutions, health care concerns.

On the other hand, developing countries depend on the developed countries for help to establish their industries. They have only begun to taste the growth of the economy. Developing countries are in the beginning stages of development in the areas of education, business, and transportation.

One of the reasons that the process of development garners so much attention is the stark divide between rich (developed) and poor (developing) countries.

The United Nations Development Program (UNDP) rates countries’ development annually according to its Human Development Index (HDI), which includes measurements of citizens’ access to healthcare, educational attainment, and standards of living, among other factors.

During 2012, the five countries with the highest HDI rankings were Norway, Australia, United States, Netherlands, and Germany, while the five countries with the lowest rankings were Niger, Democratic Republic of Congo, Mozambique, Chad and Burkina Faso, all African countries.

In fact, 37 of the 46 states ranked as having low human development are located in Africa. In contrast, 32 of the 47 states considered to be very high human development are found in Europe (Human Development report 2013).

As these figures demonstrate, development is often a highly localized issue, leading to great wealth disparities between distinct global regions. That’s the more reason I told you earlier on that you will most likely agree with the statisticians. Because all these facts and figures given above has proven the title of this book wrong already. But don’t be so quick to conclude.

Let me tell you more, do you know that the world’s 85 richest people own assets with the same value as those owned by the poorer half of the world’s population, or 3.5 billion people (including children)? Oooh! You mean you are not aware that the ten richest Africans own as much as the poorest half of the continent?

My dear friend this same question keeps coming back. Who are these few individuals? Are they more intelligent than the rest? Is it a factor of their climate? Do they have two heads? Could it be their political system that is responsible?

Maybe the top 5 European countries with the highest HDI pray better than the 5 African countries with the lowest HDI? Maybe the pastors in such countries are more anointed? Then what on earth could it be? I’ll tell you.

To be continued Tomorrow, don’t miss it.

Excerpts from the book No One Is Better Than You.

This book can be found on dsabooksplanet.com and Amazon.com



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