Nat Yogachandra

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 ...

The growing income gap between the world’s richest and the poorest was again confirmed by a report published by the British charity Oxfam. The report, titled, “working for the Few,” claims that a small elite group of more than 85 individuals hold wealth equivalent to that owned by the bottom half of the world's population. The study further says that the top 1 percent have 65 times the total wealth of the bottom half of the world’s population. In the United States, America's 400 richest families have more wealth than the entire bottom 50% of the population combined and the country ranks 64th in the world in income inequality. Today U.S. income inequality has been increasing steadily since the 1970s, and now has reached high levels not seen since 1928. It is sad that in the 21st century, a relatively small percentage of humankind has immense wealth, while the majority of the world's population lives in dire poverty and misery. This imbalance exists both within n...

The world has become a much more unequal place to live and there are no justice and unity. So,this is it…the richest one percent of the world’s population now own more than the rest of us combined, according to a report released by an aid group called Oxfam, last week. This increase in gap between rich and poor has created a world where 62 people own as much wealth as the poorest half of the world’s population, some 3.5 billion people - as the super-rich have grown richer and the poor poorer. The world has become a much more unequal place to live and there are no justice and unity.  Guess what, of the 62 people said to hold as much wealth as the poorest 50 percent, according to Oxfam report, 53 are men and just nine are female, highlighting that women are ill-represented even at the highest levels. It is sad that in the 21st century, a relatively small percentage of humankind has immense wealth, while the majority of the world's population lives in dire poverty and misery. ...

World Economic System  Must be Based on Cooperation I am sure you all will agree with me on one thing. The world seems full of crisis and disasters. From racial standoffs in Europe and the US to sectarian uprisings in the Middle East, our planet is in a mess. The most disturbing thing to me is the rising inequality between rich and poor. The gap that separates rich and poor continues to widen, which indicates that existing economic systems in countries are incapable of restoring a just balance. There is no doubt that economic development in many Asian countries has lifted tens of millions of people out of poverty. But, the gap between rich and poor in Asia is wider than ever. And the number of billionaires in Asia including China is growing faster than in any other region in the world. It is also true in many Western nations including the United States.  I have just spent a few weeks in Thailand meeting some of my old friends. The evidence is truly shocking ...