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Showing posts from January 16, 2021

Rising Inequality during pandemic - A threat to World Peace and Economic Development

Just imagine during the early months of the pandemic, when local businesses across the country closed and millions of hungry Americans turned to food banks for the first time, over a period of seven-month America’s 614 billionaires grew their net worth by a collective $931 billion. And today, according to a Washington Post report the wealthiest 1 percent of American households own 40 percent of the country’s wealth and the bottom 90 percent of families holding less than one-quarter of all wealth. This share is higher than it has been at any point since at least 1962. Before I go any further, I want to share a short passage from a book that I recently received. The book entitled “ For the Well-Being of All: Eliminating the Extremes of Wealth and Poverty ” was published by the Bahá’í Publishing Trust of USA. One page 9, it says, “ The inordinate disparity between rich and poor, a source of acute suffering, keeps the world in a state of instability, virtually on the brink of war. Few ...