and now today we're joined by professor richard wolf, economist and founder of democracy at work. now, professor, could you provide an overview of the global on bank population and our, their regional variances and the prevalence of and bank individuals and what factors contribute to these disparities? yes, uh, the number one, the overwhelming cause of people being on binary. and by that we simply mean lacking access to the normal collection of banking activities, banking services, savings account checking, account, credit cards, loans of various towards the basic and fundamental reason today is the same one that existed 2050, a 100 years ago. it's poverty, it's the getting the quality of wealth and income. let me explain briefly. first of all, banking is a profit making industry in most parts of the world and has been in most cases. there are some examples of governments taking over banks. there are some examples of credit unions and other collective forms of banking, but the overwhelming dominant form of banking activity is as a private enterprise operation. therefore, it's numb

thank you so much professor. wal, so please stick around. professor richard wolf. let's stay with us right here after the break. and when we come back, how tasha societies are going to make things worse for the on bank. we'll have more for you after the break. the, the of nations like suite in norway, south korea and australia are increasingly becoming cash is the size, making it more difficult to pay with paper bills. meanwhile, nigeria, china, india, pakistan, bangladesh, indonesia and egypt are the top 6 economies where the on bank population is the largest on a global level, the regions with the highest but portion of developing or emerging economies top the list with the middle east and africa at 50 percent, where the population is financially excluded, followed by south and central america at 38 percent eastern europe at 33 percent and asia pacific at 24 percent. even in industrialized and developed countries like the us, the on bank americans spend around $3000.00 in annual cost per person. ports, fees for money, orders, prepaid cards, etc. higher fees are c