Global North-South income gap has widened dramatically

A recent study by ICTA-UAB has shed light on a pressing global issue, revealing a significant widening of the income gap between the global north and the global south since 1960. According to the study, which was recently published in the journal New Political Economy, the income disparity between the advanced economies of the core and the developing economies of the periphery has increased by a staggering 170% to 270% over the past six decades. This alarming trend highlights the persistent economic inequalities that continue to affect millions of people worldwide.

The study's findings underscore the profound impact of global economic policies and structures on the distribution of wealth. The global north, comprising countries such as the United States, Canada, and those in the European Union, has seen significant economic growth and development, while the global south, encompassing regions like sub-Saharan Africa, Latin America, and parts of Asia, has struggled to catch up. This divergence has resulted in a widening income gap, with the global north holding a disproportionate share of global wealth.

The study's results have important implications for policymakers and international organizations seeking to address global economic inequalities. As the world grapples with issues like poverty, inequality, and sustainable development, understanding the root causes of the income gap is crucial for developing effective solutions. The ICTA-UAB study serves as a reminder of the need for more equitable global economic policies and practices that prioritize the needs and well-being of all nations, particularly those in the global south.