Inequality Skyrockets in Mexico as Rich Get Richer, Poor Get Poorer
The gap between the rich and the poor in Mexico has been growing for some time. A 2014 study noted that in Mexico 16 billionaires were worth $9 billion while individuals in the bottom 20 percent of the population had net worths of about $80.
Inequality and wage disparity have grown out of control, leaving the country with 52.3 percent of Mexican citizens in poverty. According to a recent study by the Organization of Economic Cooperation and Development (OECD), the gap between wages and hours worked is larger in Mexico than any of the other 34 member countries that are part of the organization.
That is staggering considering Mexico's economy is growing at the second fastest rate among Latin American nations. It is also the only country other than Chile which represents Latin America in the group. The OECD report showed that the poorest in the country worked 2,327 hours on average during 2014 and were only paid $12,850.
These numbers are shocking given that 40 percent of Mexico's income is owned by just 10 percent of its population. The loss of the middle class is especially apparent in Mexico, as the gap grows between the rich and the poor. Mexico's government has struggled to address the issue, with recent efforts ultimately contributing to the poverty problem, rather than helping it.
So what should be done about this inequality? Social media is primarily used by celebrities and rich kids to show off luxury and wealth. While some of Mexico's wealthiest people work as entrepreneurs, their work gives rise to depictions in film and high visibility through social media for those individuals.
However, little attention is paid online to the poverty or the terrible working conditions for a vast majority of poorer Mexicans. These digital tools need to be used to address staggering inequality, helping to put the issue to rest.
Another solution is simply better pay. One of the biggest topics in the current U.S. presidential election currently is the minimum wage. Some Democratic candidates are fighting for wage increases, while many Republicans have not established positions on the issue.
Still, it may be hard to change a system that has been in place in Mexico for so many years.
Subscribe to Latin Post!
Sign up for our free newsletter for the Latest coverage!