Final answer:
The top 1% of the world's population owning over 50% of global wealth indicates a development paradox, highlighting the stark inequality between the wealthy and the poor. This reflects unsustainable patterns of production and consumption, exemplifying the significant disparities in economic power both globally and within nations.
Therefore, option B is correct.
Step-by-step explanation:
The statement that the top 1% of the world's population owns more than 50% of global wealth indicates a development paradox. This term describes the growing gap between the wealthy and the poor, where a very small percentage of the population controls a disproportionately large share of resources. This is not only a feature of global wealth distribution but is also reflected within individual nations, like the United States, where wealth concentration is increasing among the richest citizens.
According to various reports, such as one by Oxfam, the richest individuals in the world hold more wealth than billions of the poorest combined, highlighting severe inequalities in resource distribution. These inequalities are central to discussions of sustainable development, as they reveal the challenges in balancing consumption and preservation of resources. The present patterns of production and consumption are unsustainable in the long term and provide a stark contrast between the haves and have-nots.
The concept of a development paradox is exemplified by Figure 10.1, showing the widening gulf between the wealthy and the poor globally, and substantiated by statistics showcasing the imbalances in wealth distribution both in the US and worldwide. It is critical to address these disparities to avoid ecological crises and escalating social conflict.