World’s growing inequality is ‘ticking time bomb’: Nobel laureate Yunus

Nobel Peace Prize winner Muhammad Yunus addresses the Hult Prize Award Dinner during the Clinton Global Initiative in Manhattan, New York

From Reuters:

“LONDON (Thomson Reuters Foundation) – The widening gap between rich and poor around the world is a “ticking time bomb” threatening to explode into social and economic unrest if left unchecked, Nobel Peace laureate Muhammad Yunus said on Thursday.

The banking and financial system has created a world of “the more money you have, the more I give you” while depriving the majority of the world’s population of wealth and an adequate standard of living, Yunus told the Thomson Reuters Foundation.

“Wealth has become concentrated in just a few places in the world … It’s a ticking time bomb and a great danger to the world,” said the founder of the microfinance movement that provides small loans to people unable to access mainstream finance.

Yunus cited Donald Trump’s victory in the U.S. presidential election on Nov. 8 and Britain’s vote to leave the European Union on June 23 as expressions of popular anger with ruling elites who have failed to stem the widening global wealth gap.”

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