Growth without justice: The politics of wealth and the economics of hunger

By Vikas Meshram* 

In modern history, few periods have displayed such a grotesque and contradictory picture of wealth as the present. On one side, a handful of individuals accumulate in a single year more wealth than the annual income of entire nations. On the other, nearly every fourth person in the world goes to bed hungry or half-fed.

Oxfam International, in its 2025 report titled “Resisting the Rule of the Rich: Protecting Freedom from Billionaire Power,” released during the World Economic Forum at Davos, presents a deeply disturbing portrait of global inequality.

The statistics are staggering. In 2025, the total wealth of the world’s billionaires reached an unprecedented $18.3 trillion, marking an increase of more than 16 percent over the previous year. In just twelve months, this ultra-wealthy class added approximately $2.5 trillion to its fortunes—an amount greater than the combined wealth of the poorest 3.83 billion people on the planet. For the first time in history, the number of billionaires has crossed 3,000, and their combined wealth stands at an all-time high. Since 2020, their wealth has grown by 81 percent, while the economic condition of nearly half the world’s population has stagnated or worsened.

To grasp the magnitude of this disparity, one comparison suffices: the wealth added in a single year could eradicate extreme global poverty 26 times over. If deployed equitably, this accumulation could have eliminated severe poverty across the globe not once, but twenty-six times. Yet such transformation remains elusive, as billionaire fortunes continue to expand while poverty reduction slows.

At the apex of this vast pyramid stands Elon Musk, whose net worth has crossed half a trillion dollars—approximately $502 billion—making him the first individual in history to reach such a figure. These numbers may appear abstract, but their implications are concrete: the combined Gross Domestic Product of 117 countries is lower than Musk’s personal wealth.

After Donald Trump assumed office again in November 2024, billionaire wealth reportedly grew three times faster than in the previous five years. Policies favoring tax cuts for the ultra-rich, the weakening of international corporate tax frameworks, the dilution of anti-monopoly laws, and strong incentives for artificial intelligence investments accelerated wealth concentration. The surge was not confined to the United States; billionaire wealth outside America also rose at double-digit rates.

Yet economic inequality is only one dimension of the crisis. A deeper threat lies in the expanding political influence of billionaires. According to Oxfam’s findings, billionaires are 4,000 times more likely to hold political office than ordinary citizens. This reality challenges the foundational democratic principle that each citizen’s voice carries equal weight. In practice, wealth increasingly amplifies political power.

A survey conducted across 66 countries under the World Values Survey found that nearly half of respondents believe wealthy individuals buy elections in their countries. Through campaign financing, media ownership, and influence over policymaking, billionaires are hollowing out democratic institutions. Economic poverty breeds hunger; political poverty breeds anger. That anger is now visible worldwide in anti-government protests.

For the nineteenth consecutive year in 2024, global civic freedoms declined. One-quarter of countries imposed new restrictions on freedom of expression. In 68 countries, more than 142 major anti-government protests were recorded, many suppressed with force. Research indicates that countries with high inequality are seven times more likely to experience democratic erosion. Inequality is not merely an economic concern; it is a democratic threat.

In the information age, control over media shapes public perception. Today, more than half of the world’s major media corporations are owned or controlled by billionaires. Jeff Bezos owns The Washington Post. Elon Musk acquired Twitter (now X). Patrick Soon-Shiong purchased the Los Angeles Times. Several billionaires hold significant stakes in The Economist. In France, Vincent Bolloré transformed CNews into what critics call “France’s Fox News.”

A study by the University of California found that after Musk’s acquisition of Twitter/X, hate speech on the platform increased by nearly 50 percent. What was once viewed as an open forum for dialogue is now widely criticized as reflecting the ideology of its owner. In Kenya, officials reportedly used X to monitor and suppress critics, according to Oxfam.

Closely linked to inequality is another silent crisis: land degradation. The Food and Agriculture Organization, in its report “The State of Food and Agriculture 2025,” estimates that approximately 1.7 billion people live in areas where human-induced land degradation is reducing crop productivity. Globally, average crop yields have declined by about 10 percent, and 47 million children under five suffer from stunted growth due to malnutrition. Restoring just 10 percent of degraded agricultural land could provide food for an additional 154 million people annually.

Hunger and climate change form a dangerous alliance. In 2025, more than 295 million people worldwide faced acute hunger and famine-like conditions. Research published in Scientific Reports warns that if greenhouse gas emissions continue unchecked, by 2100 around 1.16 billion people could experience at least one severe food crisis, including more than 600 million children. Sustainable development and timely emission reductions, however, could spare approximately 780 million people from such crises.

In Africa, extreme poverty is resurging. Cuts in global aid threaten health, education, and nutrition programs, potentially leading to 14 million additional deaths by 2030—deaths that are preventable, provided political will exists.

Food security is not merely about producing more grain. The world already produces sufficient food; the crisis lies in distribution, affordability, storage, and governance. Strong local agricultural systems, water conservation, crop diversification, and community participation are the pillars of genuine food security.

In India, farmer suicides, low crop prices, water scarcity, and erratic rainfall linked to climate change mirror the global food crisis at the national level. Although nearly 550–600 million Indians depend on agriculture, the sector contributes only 15–17 percent to GDP—an imbalance that raises serious concerns for long-term food security.

Solutions are within reach. Oxfam and other global institutions recommend time-bound national plans to reduce inequality, effective taxation of extreme wealth, protection of media freedom, and safeguarding of citizens’ rights. Brazil, during its G20 presidency, proposed a global billionaire tax—an important, though limited, initiative. The European Union’s Digital Services Act seeks to hold digital platforms accountable. Scaling such measures globally is essential.

Addressing climate change requires rapid emission reductions, a transition to renewable energy, and adherence to the principle of climate justice, whereby countries most responsible for pollution provide financial support to vulnerable nations.

On one side, Elon Musk amasses half a trillion dollars; on the other, children go to bed hungry. This is not destiny—it is the outcome of human decisions. And what human decisions create, human decisions can change.

Food security, climate justice, media freedom, and economic equality are interconnected challenges demanding an integrated and courageous global response. Humanity has reached the moon, developed artificial intelligence, and launched satellites into space. Why, then, does ensuring that every child eats a full meal remain so difficult?

The answer lies not in capability, but in political will. Generating that will is the defining challenge of our generation.

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*Freelance journalist