There is perhaps no stronger evidence of the pressing need to redesign our global system than the fact that a global health crisis doubled the wealth of the 10 richest men in the world while sending upwards of 120 million people into extreme poverty. This UNRISD Flagship Report shows how inequalities and crises reinforce and compound each other, leading to extreme disparity, vulnerability and unsustainability. It argues that this is not the result of a broken system but one in which inequality and injustice are built in by design. The social contract has unravelled to the great detriment of people and planet. The report associates the multiple crises and increasing inequalities we are facing with policy choices promoted during the age of neoliberal hyperglobalization. It unpacks the implications for sustainable development and for disadvantaged social groups through the lenses of intersectionality and power. To address inequality, break the cycle of multiple and interlocking crises, and work toward a more equal, just and sustainable future, the report proposes the creation of a new eco-social contract and a policy approach based on alternative economies, transformative social policies, and reimagined multilateralism and strengthened solidarities.