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Sordid inequality a threat to progress and social cohesion

Zafar Bhat. Dated: 6/18/2018 11:12:12 AM

Zafar Bhat
Jammu, June 17
In the past 200 years, industrialization and the consequent economic growth, and medical advances have tremendously extended the length and quality of life, and have reduced to about 10 percent the poverty rate of the global population, which is surging towards 8 billion.
However, that global poverty has been sharply reduced. That is predicted to be pushed even higher by ongoing medical breakthroughs. Two recent ones are particularly promising. One in three deaths is caused by cardiovascular disease, the world's biggest killer. Medical treatment has been limited to cholesterol-lowering statins and blood-thinning drugs. But half of all heart attacks happen to people who do not have high cholesterol, and one in four people have a second attack within five years.
Particularly, after extensive trials in 39 nations, scientists say an anti-inflammatory drug called canakinumab might cut the risk of fatal repeat heart attacks and strokes by almost a quarter.
Interestingly, all this is cause for celebration. Lamentably, though, inequality is sullying and undermining the progress, creating tensions that threaten the very stability of the economic system that has delivered so much.
The disquiet is being fuelled by increasing evidence of staggering tax avoidance and evasion by multinational companies and the rich.
Unfortunately, wealth has become so obscenely concentrated that the eight richest people have as much wealth as the poorest half of the entire global population.
Notably continued peaceful progress here and around the globe depends on communities having faith the system is fair. It clearly is not. History shows us such degeneracy is a prelude to social explosions that harm rich and poor alike. That's how humanity goes into decline, despite so much wonderful potential. And this is the perspective we need from our lawmakers and from community and business leaders.