Economic inequality is the difference found in various measures of economic well being among individuals in a group, among groups in a population or among countries.
Economic effects of rising inequality
- Social unrest and civil disobedience – strikes and demonstrations over poor pay and conditions.
- Limited access to healthcare
- Limited access to education
- Volatile incomes, high debts
- Low savings
- Misallocation of scarce resources – capital investment skewed towards preference of the rich.
September 11, 2020