Large populations of humans not getting their basic needs fulfilled is a feature. That way, those who do have lots of resources get to have even more intense feelings of superiority and that of having high status. That is, after all, the point of wealth accumulation (at least a certain point where more money does not change your life quality meaningfully). For status, its the delta between you and others that matters most. If raising your own wealth has diminishing quality of life returns, then lowering other peoples is the only effective way of increasing the delta.