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Wealth Inequality in Today's World

There are two issues facing the world today that must be addressed.

Firstly, most money is earned through sales of goods and services.

Secondly, two industries stand to gain from the former point - namely manufacturing (including pharmaceuticals) and software. These industries are easily scalable and can be fully automated, reducing the need for manpower yet generating a lot of profit from scaling. This has also led to income inequality where the owners of manufacturing and software giants stand to earn a lot by capitalising on scalability.

Contrast this with a Grab Taxi driver - said driver has to fetch 10 passengers a day in SG to earn at least 3K, not to mention fatigue from driving all day.

Therefore what is expected are increases in GDP from technology while seeing salary stagnation in the broader public.

The lack of unions has also exacerbated the effect.

There are no unions to enable Grab Taxi Drivers to earn a decent living wage without exhausting himself.

If everyone were to be equal participants in the global economy, then we would need more people to work in jobs with scalable pay.

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