Policy needs to focus on gender wealth inequality for inclusive growth and economic security
Despite progress in gender equality, women globally still face significant wealth inequality, owning a disproportionately small share of global wealth. This disparity is rooted in historical and systemic factors, including lower earnings, limited access to financial resources, and unequal distribution of unpaid care work. The article highlights that wealth inequality is more pronounced than income inequality and impacts women's economic security, autonomy, and ability to invest. Policies must move beyond income-focused interventions to address wealth accumulation barriers, such as promoting financial literacy, property rights, and access to credit, to achieve true gender equality and inclusive growth.
Key Points
- Gender wealth inequality is a pervasive global issue, with women owning a significantly smaller share of global wealth.
- This inequality is more pronounced than income inequality and is driven by historical and systemic factors.
- Factors contributing to wealth disparity include lower earnings, limited access to financial resources, and disproportionate unpaid care work.
- Addressing gender wealth inequality is crucial for women's economic security, autonomy, and ability to invest.
- Policy interventions should focus on wealth accumulation, including property rights, financial literacy, and access to credit.
Exam Facts
- The UN Report 'Counting What Counts' (2024) highlighted gender wealth inequality.
- Women own only 28% of global wealth, according to the report.
- Women in India own 18% of the wealth, compared to 82% for men.
- The 2nd Assembly of the UN General Assembly in 1995 adopted the Beijing Declaration and Platform for Action.
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