Over the past ten years the number of billionaires in the world has doubled but the gap between rich and poor has not narrowed, said Prof. Duhomir Minev from the Bulgarian branch of the European Anti-Poverty Network, EAPN, in an interview for the Bulgarian National Radio.

Prof. Minev was analyzing a report by the charity organization Oxfam, according to which the world's 2,153 billionaires have more wealth than 60 percent of the population and that gender inequality is particularly poignant. The annual report is published before the opening of the World Economic Forum.

Representatives of the world political and economic elite are meeting in Davos today. And the eyes of analysts who have been raising the alarm that the gap between rich and poor cannot be bridged without targeted policies are now on Davos. They are urging governments to guarantee that the wealthy and enterprises will pay their fair share of taxes. International Monetary Fund Managing Director Kristalina Georgieva also warned that the global economy risks a return of the Great Depression, driven by inequality and financial sector instability.

In Bulgaria inequality growth has crossed a red line that must never be crossed, says Prof. Minev in his interview for the BNR’s Horizont channel, and adds:

As inequality grows it becomes the principal factor generating poverty, the main cause of poverty. We are close to top of the list of countries with regard to levels of inequality and poverty.

In Prof. Duhomir Minev’s words what is needed is monitoring, evaluation and reconstruction of economic, taxation and social policies.

Who stands to gain from an excessive inequality growth?

In his words it is easy to spot the people, at a national level, who have an interest in growing richer whatever the cost to society.

A monumental work about the consequences of a high level and growing inequality by two British researches was published about ten years ago. One of the consequences is that the standard of education goes down, as does the performance by children. Another consequence we are seeing that comes as proof of the problems is the fact that the retirement age is going up. Where there are high and growing inequality levels people have to work longer to retire on a pension, Prof. Minev adds.

When social inequality levels are high democracy becomes a mere façade

Excessive inequality anywhere in the world is an indicator that the rule of law is in crisis, that human rights are in crisis, particularly social rights. In all places excessive inequality is an indicator of control and suppression of social and political science, especially analyses and evaluations of policies, and that is true anywhere in the world. Moreover, again anywhere in the world – from the US to Brussels or Bulgaria – high inequality levels are an indicator of high corruption levels, Prof. Duhomir Minev says.

As regards the expectations that the Davos forum might produce a decision that would reduce inequality, Prof Minev says:

It doesn’t seem very likely though it is not to be ruled out. Firstly, because they rarely make concrete decisions. But I very much hope that the two successive reports on this fundamental problem the world is now facing are indicative of a change in the attitude of the world elite. Even without making any such decisions directly, they are still able to push through change of this kind,” says Prof. Duhomir Minev from the Bulgarian branch of the European Anti-Poverty Network.

Edited by Elena Karkalanova