Political theories are very important for helping us understand why differences in wealth and opportunity exist around the world. These theories give us ways to think about and discuss these problems. Different thinkers share their ideas about what causes inequality and how it affects people, which can change what leaders decide to do in terms of laws and policies.

1. Classical Theories:

   • Karl Marx talked about class struggle, which focuses on the gaps between rich and poor. He believed that capitalism naturally causes these gaps. For example, in 2020, a study showed that global income inequality in simple terms was pretty high, with a number around 0.65.
   • John Rawls had a different idea. In his book “Theory of Justice,” he suggested that resources should be shared in a way that helps those who are the worst off. His thoughts influence how countries create welfare programs. A report from 2019 revealed that the richest 1% of people around the world own a shocking 44% of all the wealth.

2. Modern Perspectives:

   • Amartya Sen introduced the capability approach, which looks at what people can actually do with their lives, not just how much money they have. In 2021, UNICEF reported that about 356 million children live in extreme poverty around the globe. This shows that many people lack the resources they need to improve their lives.
   • Thomas Piketty, in his book “Capital in the Twenty-First Century,” explained that rich people earn money faster on their investments than the overall economy grows. This makes inequality worse. He found that the top 10% of earners have a huge $52 trillion, while the bottom half only has$1 trillion.

3. Implications for Policy:

   • These political theories help shape laws that aim to reduce inequality. This includes changes to tax systems, trade agreements between countries, and social programs that support people. For instance, in 2021, countries like Finland and Sweden created tax systems that help even out wealth among their citizens.

By looking at global inequality through different political theories, we can understand the problem better. This can help us come up with focused solutions to tackle these important issues.