Inequality, which is one of the main concerns to UN, can be defined as an uneven distribution of resources in terms of social, income, gender, ethnicity, disability and age. It was identified as the most significant trend in 2015 as it ranked 2nd in last year’s economic outlook. In developed and developing countries alike, the poorest half of the population often controls less than 10% of its wealth. While it is true that around the world economic growth is picking up pace, deep challenges still remain very present, including poverty, environmental degradation, persistent unemployment, political instability, violence and conflict. These are often closely related to inequality.
The prevalence of poverty is the biggest socio-economic challenge that world has to deal with. As the world population is increasing at the exponential rate, the rate of poverty is increasing proportionally. Poverty could be characterized with the following Macroeconomic and Microeconomic indicators such as Income Levels, Education levels, Unemployment Rates, Purchasing Power Parity, Social Development, and Deficit balances of Trade .According to the (The World Bank, 2011) 14.5 percent of world population is characterized as poor . The indicator that World Bank has used for data collection is Income levels and the people who live on less than $1.45 a day.