Why are the Rich Getting Richer and the Poor Getting Poorer ?

According to the Oxfam International report, the wealth of the world’s 10 richest doubled during the time of Corona. Along with this, a shocking data also came out in America. Which 51 million Americans filled out for Unemployment Benefits. That is, 51 million people became unemployed in America during the time of Corona.

According to a Bloomberg report, Jeff Bezos‘ net worth increased to $ 13 billion during the time of Corona. According to one data, 21000 people died every day due to lower income during the time of Corona. Because they didn’t have enough money. That’s why they neither got enough nutrition nor could they get the right treatment. Because of which those people died.

Why Rich are Getting Richer ?

Let us know why the rich have become or are becoming rich. First and foremost, the reason for this is our education system, due to which the gap between rich and poor is increasing. Children are not kept up to date with technology from the very beginning in school.

Nor are they given education in financial management. Financial education is very important in life and it should be taught to the child from the very beginning. Along with this, if we look at the top billionaires, most of them are college dropouts. Bill Gates, Steve Jobs, Larry Ellison, Mark Zuckerberg and Larry Page etc. do not have any college degree. But still these people are billionaires.

The second reason for the rich getting richer is that these people invest their money in that place. Where their money grows rapidly. Such as stocks, bonds, mutual funds and stable investments. Their money doubles in these things in eight to 10 years. Also debt also makes them rich.

Because by taking loans, these people go on scaling-up their business. Along with this, their business is scaled up, as well as their net worth also increases. Because money attracts money. Mind set plays its very important role in becoming rich of any man. For example, when rich gets an idea, he immediately takes action.

He never complains about his condition. He tries to find opportunities even in difficult situations. Along with this, rich people also try to learn from their mistakes. There is always a desire to learn something in them continuously. Along with this, these people spend their money on books and such items, which are useful.

These people also read new books every week. And these people also execute things practically. These people take success as a responsibility. And he also takes responsibility for everything. Because responsibility is the only thing that is never given, always taken. And these people have a focus on the future as well.

These people are always trying to find out what technology will come in the future. Or what would be the options. Which we can take advantage of. Along with this, the thinking of these people is also very big. These people embrace change and setbacks. The focus of these people is always on solving the problems of others.

So that they can start a new startup related to it. These people have many sources of income. Along with this, the structural and systematic policies of the government also work in their favor. So that these people become even more rich. Along with this, political choices also help in increasing their wealth.

If the wealth of the top ten billionaires has increased, then the main reason for this is that they have tech companies. Due to Deindustrialization and internet revolution, the gap between rich and poor is increasing in America. The decline in globalization is also one of the main reasons for this.

Because no company can compete with these big giant tech companies. They have monopoly in the entire market. The main reason for the increase in the wealth of Billionaries in the time of Corona is that most of the billionaires are the owners of the giant tech company. Such as Google, Apple, Amazon, Microsoft, Zoom, Facebook and Netflix etc.

These companies did not remain closed even during the time of Corona, but people needed these companies even more during the time of Corona. Due to which there was a huge increase in their wealth. Rich people build relationships on trust and the like. And these people spend their time, resources and energy on their work.

These people always focus on the things they want. Their focus is sharp like a laser. Because of which they get success. These people are also goal-oriented. If we look at the business model of most of the billionaires, we find that these people build a kind of ecosystem.

So that other people can also become rich through this, he can also earn. These people want to see other people successful too. For example, not only Jeff Bezos in Amazon, but also other sellers who sell their goods on Amazon. They also make profit. Due to which it becomes a type of eco system. Along with this, it is a huge factor in the success of Amazon.

Why is the Poor Getting Poorer ?

The government spends very little money on Human Capital. Because of which a poor can never get out of his poverty. Along with this, the government should invest more and more in education and human capital. So that the poor get its benefit. And they should also stand at the level of the rich and compete with them.

Along with this, the debt of the common man in Corona has doubled. Either he has lost his job or if he has a small business, then that too has been closed. Due to which he could not repay his loan and due to the interest rate, his expenditure has doubled. If the poor keeps getting poorer, then coming at a time, it will also increase the crime.

Along with this, it will also create social unrest. Which will be very dangerous for the society. According to the report of Oxfam International, 70% of Americans became poor during the time of Corona. Along with this some people get opportunity. But even then they do not become rich. The biggest reason for this is the mind set.

If these people have even a little money. So instead of investing it, these people spend it on luxury items. Along with this, these people do not have more than one source of income. And these people do not invest on themselves. That is, these people do not educate themselves and they do not have the habit of learning new things.

Along with this, these people are also victims of negativity. These people do not focus on one thing and are always comparing themselves with others. Poor people do not get that much leverage. Even if someone gets it, he doesn’t even use it properly. The poor man does not have that much money.

So that they can invest in the stock market. He neither has mutual funds. If suddenly a medical emergency comes, then a little bit of his saving money goes into it. Although some people are poor. But their mind set is richer than rich people. Like Mahatma Gandhi, Nelson Mandela, Martin Luther King, Muhammad Younis etc.