Lao's People Democratic Republic: Poui is a fisherwoman, and before the dam construction nearby, she was able to make a living and provide for her family with the income from fishing. She has since lost her livelihood. Photo: Patrick Moran/Oxfam. Oxfam acknowledges the support of the Australian Government through the Department of Foreign Affairs and Trade (DFAT).

Economic equality

Reshaping wealth, power and opportunity for all.

Zimbabwe: Elizabeth Mutimwii, a farmer, holding plants, the harsh sun and low rainfall devastated her crops. Photo: Loliwe Phiri / Oxfam

our approach

Economic inequality — which includes wealth inequality and income inequality — is a result of deliberate policies that privilege the super rich and exclude the vast majority of people.

It is undermining progress against poverty, damaging economic growth and causing public anger and unrest, especially as climate-related disasters become more common.

Through our programs, campaigns and advocacy, we are building fairer economic systems to protect the environment, provide economic justice and deliver a future where everyone has a fair chance for a decent and dignified life.

The growing gap: concurrent rise of extreme wealth and extreme poverty

Extreme wealth and extreme poverty have increased concurrently for the first time in 25 years. The richest 1% of people have more than twice the combined wealth of the other 99% of the world’s population.

Economic inequality is the result of the unequal distribution of income and wealth between different groups of people.

This huge divide between rich and poor is based on a flawed and sexist economic system that values the wealth of the privileged few — mostly men — more than the billions of hours of unpaid and underpaid care work done primarily by women and girls.

Economic governance for equality

Current economic models have failed us. Unjust systems have concentrated power and wealth in the hands of a few, at the expense of the world’s poorest people.

In a truly equal society, 50% of the population should earn 50% of the income and own 50% of the wealth. However, the World Inequality Report (2022) illustrates that the world is experiencing extreme inequality, with the poorest 50% of the world earning just 8.5% of global income and owning only 2% of the world’s wealth.

This severe inequality has been allowed to flourish because global economies have valued financial growth above all else. This is a rigged economic system that exploits and starves the poorest and rewards the richest. For example, the impact of the COVID-19 pandemic and the Ukraine war have made food and energy unaffordable for millions of people around the world, including here in Australia. Yet, 95 food and energy corporations made a whopping $306 billion in windfall profits in 2022.

Building fairer systems for global equality and sustainability

To address global inequality, we must make systems fairer and create more equal societies. Rich, polluting countries must cut their carbon emissions. Governments must tax the wealthy and polluters, and must fund social protection and climate adaptation schemes to help people cope with climate-related shocks.

We believe that people and planet should be at the heart of economic policies. We need economic systems that are just and sustainable; serious action on the climate crisis; and new rules that empower all people to live with choice, dignity and equal opportunity.

Ensuring decent work, fair wages and empowering women in decision-making

Our economies are built on the back of millions of hours of unpaid care work and low-paid labour. Because of unjust and patriarchal social attitudes, this unpaid care work is overwhelmingly done by women and girls. The responsibility of caring for children and elderly relatives, along with household duties like cooking, cleaning and collecting water, leaves women and girls with little or no time for school and work. If a woman lives in poverty, she does even more unpaid work.

When women are in the workplace, they make up the majority of the world’s low-paid workers and are concentrated in the most precarious jobs. During times of uncertainty, like the COVID-19 pandemic, women are more likely than men to lose their jobs or lose their income. In fact, the pandemic cost women around the world at least $800 billion in lost income.

Women are also less likely than men to have a bank account and access to the internet, which means they are less likely to be entrepreneurs, start a business and reach leadership positions in business and politics.

Tackling inequality so women can choose their own futures

This inequality is based on unfair and sexist structures, where men hold positions of power and women are disproportionately responsible for unpaid care work.

Increasing women’s economic equality would reduce poverty for everyone. Economic inequality costs women in low-income countries $9 trillion per year. If women could rightfully earn this money, they would have a chance to contribute to their household income, invest in the health and wellbeing of their families and boost the economy as a whole.

Economic inequality facts

2.4 Billion

women of working age are not afforded equal economic opportunity (United Nations, 2024).

In 2020, extreme poverty increased for the first time in 25 years.

World Bank, 2022

Frequently asked questions

What is economic inequality?

Economic inequality is the unfair and unequal distribution of income and opportunities between different groups of people. Economic inequality is based on a sexist and outdated economic system that values the wealth of the privileged few — mostly men — more than the billions of hours of unpaid and underpaid care work done primarily by women and girls.

How you can help

Join Oxfam today and help communities all over the world live free from poverty.

Australia: Rhonda Norman is a Noongar Wilman women. She is a dedicated mentor and Elder in the community, and has been with SWAWC since it’s conception.Aimee Han/Oxfam

Australia: Rhonda Norman is a Noongar Wilman women. She is a dedicated mentor and Elder in the community, and has been with SWAWC since it’s conception.Aimee Han/Oxfam

Other areas of work

First Peoples justice
Gender equality
Climate change

Despite 65,000 years caring for People and Country, the First Peoples of Australia, are too often excluded from the resources of their own country. This is particularly true of First Nations women, who often face inequality and discrimination because of their gender. This double discrimination can worsen inequality, limit economic opportunities, increase the risk of gender-based violence and fuel poverty.

Oxfam Australia has worked to advance First Peoples’ rights for more than 40 years —and our work is not nearly done. We still have a long way to go towards First Peoples’ justice and equality in Australia. By calling for First Peoples justice, our aim is to undo systemic inequality, challenge injustice, and achieve the change the First Peoples of Australia want to see.

Learn more