Finance

Men have 50 percent more assets than women

The gap in prosperity continues to be large – especially between men and women. Because: Many women throw up the household – without payment. Oxfam demands: The federal government must relieve women.

The difference between poor and rich in the world is still dramatically high, according to the aid organization Oxfam. The concentration of wealth also continued to increase at the top last year, the organization emphasized when it presented its inequality report shortly before the start of the annual conference of the World Economic Forum (WEF) in Davos.

Oxfam relies, among other things, on the financial news agency Bloomberg, which claims that the wealth of the world’s 500 richest people rose a quarter in the previous year. According to Oxfam, prosperity is especially uneven between women and men. According to this, men have 50 percent more assets than women.

Oxfam calls on the federal government to invest more in public childcare and social security in poor countries, and to strengthen women’s rights and organizations worldwide. In Germany and around the world, corporations and people with very large wealth would also have to contribute a fair share to the common good: “The Federal Government must advocate a worldwide minimum tax and support developing countries in taxing corporations more”, is another demand by the organization .

Poverty trap for women

One reason for gender inequality is this year’s study “Time to Care”, according to women, work done at home by women – such as childcare, caring for relatives or caring for the household. “Women and girls do the lion’s share of unpaid housekeeping, care and support work – well over 12 billion hours a day worldwide.” This would be equivalent to more than $ 11 trillion a year if paid with the minimum wage. For women, this unpaid work is often a poverty trap.

The influence of so-called care work on income, wealth, educational opportunities and the risk of poverty receives too little attention in connection with inequality, said Ellen Ehmke, analyst for social inequality at Oxfam Germany. “We should recognize the value of this.”

Inequality in wealth is also worsening in Germany

“The direct link between wealth inequality and care is that women can build much less wealth over their lives because they do a lot of their work in unpaid care,” said Ehmke. In rural areas of poorer countries, women spend up to 14 hours a day caring for them, Oxfam reports. “Girls also have to help a lot.” The climate crisis aggravated the situation – partly because, for example, paths to water points are becoming longer or the cultivation of vegetables is becoming more difficult.

Even in richer countries like Germany, the care work, which is primarily performed by women, exacerbates inequalities in prosperity. As long as there are not enough public offers for childcare, for example, families with high incomes could go back to work much earlier than in families with lower incomes. This further deepens the inequality between households.

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