Fallico: huge gap between rich and poor negatively affects all countries
Last year, 10 percent of the world’s population received 52 percent of the world’s total income while the most worrying thing is that in this circle, the richest 1 percent of citizens own almost half of this wealth: 38 percent – as stated by the President of Conoscere Eurasia, Antonio Fallico, at the 15th Verona Eurasian Economic Forum held in Baku
“I think this is an absolutely ugly situation, which is not merely reflected on some part of the world. Indirectly, this has a negative effect on the whole world, on all countries with any kind of state structure,” the Italian expert stressed.
According to Antonio Fallico, the reason for this inequality is neoliberalism. As an example, he cited Italy, where in the period from 2004 to 2021 the level of absolute poverty increased 3-fold: up to 5.6 million people.
“That is, almost 10 percent of the Italian population is in conditions of absolute poverty! The modern neoliberal model of economic development has not only contributed to the growth of inequality, but also to the growth of risks, marginalisation in society, and unemployment,” the President of Conoscere Eurasia added.
He also drew attention to the fact that unemployment does not only deal an economic blow to a person and society: the individual actually drops out of life while important interpersonal ties and communication are torn.
Antonio Fallico considers it important to debunk certain myths associated with the neoliberal path of development, “What do we have to do? We absolutely need to have frank discussions, using all the means at our disposal, so that we save the person within the framework of humanism. Now humanism must again raise its voice in order to restore all human rights. The person should become the main character of development. Without this, we will go nowhere further.”
On October 27th-28th, the 15th Verona Eurasian Economic Forum is being held in the Azerbaijani capital. One of the key sessions of the forum’s second day explores the Fate of Humanism in the Context of Global Challenges.
