Wealth inequality is caused by various factors including colonialism, globalization trends that favor certain countries over others due to their economic power or political influence. Additionally, high levels of taxation meant to redistribute income away from the wealthy towards lower-income families can also contribute to disparities in wealth between nations (Konczal). Other factors like gender discrimination or unequal access to basic services also play roles in exacerbating global inequality issues (UNDP). All these issues combined create an environment where some countries are better off than others due largely to advantages stemming from historical legacies or international dynamics which actively work against more equitable outcomes worldwide (MacDonald & Riggirozzi).

In order for meaningful progress towards reducing poverty around the world then it is necessary for governments to acknowledge these structural problems inherent within our current socioeconomic reality which allow for greater concentrations of capital among wealthier nations or groups while leaving poorer ones behind (Rojas-Romagosa et al.). To effectively combat this phenomenon nation states must take actions such as implementing progressive taxation policies that serve as effective measures against income gaps by taxing higher earners more proportionally while providing tax breaks targeted towards those in need (Konczal). Furthermore investment into public healthcare programs would provide greater levels of accessibility amongst disadvantaged communities which often lack adequate medical coverage even during times when health concerns present themselves disproportionately across different population segments (Chandra & Niehaus). These types of investments have proven successful at reducing mortality rates amongst underprivileged communities throughout Latin America over recent years thus demonstrating tangible strides towards eliminating disparities through practical government intervention rather than relying solely upon charity initiatives alone(Rojas-Romagosa et al., 2017) .

While there are many positive ethical outcomes associated with reducing poverty on a global scale; namely increasing access to quality healthcare for all , there are still potential negative ethical consequences related with governmental intervention into free markets or private industry which may limit corporate freedom or affect hiring practices negatively resulting job losses adversely affecting marginalized populations who were hoping gain employment through said businesses(Chandra & Niehaus 2018). It is therefore important strike balance between allowing businesses operate without undue government interference while still maintaining level playing field so people can obtain jobs offer competitive wages without being exploited economically(Galbraith 2016).

To conclude it can be argued that taking proactive steps toward decreasing wealth disparities on a global scale would provide myriad benefits both ethically moral grounds but also politically economically providing greater stability assurance throughout world leading increased well being improved living standards similar regions alike(Galbraith 2016 ). This proves that placing emphasis creating opportunities breaking cycle poverty requires concerted effort sustained investment policy changes improve lives millions impoverished citizens globe connecting them larger economy ensuring fair distribution resources .

Overall combating poverty worldwide necessitates creative approaches tailored each region fit local socioeconomics cultures ensure long term sustainability preventing future occurrences same type decline regions have experienced past decades . By implementing well thought out combination progressive taxation public spending programs geared directly toward needs those need most we stand best chance helping poorest societies catch up rest world offering healthier brighter tomorrow all inhabitants earth alike .