This paper analyses, from the perspective of inclusive economics -an alternative to the neoclassical approach- the evolution of inequality in the distribution of income and wealth during the period of industrial capitalism, both in the North and the South of the global economy. It focuses on the neoliberal phase, exploring the relationship between neoliberalism and inequality to examine its consequences, among which the emergence of a plutocracy built on precariousness and poverty stands out. The paper concludes by presenting some alternatives, both in terms of reforming capitalism and stepping outside of it, in order to progress towards social and environmental justice.