Economic inequality, defined as the gap between incomes at the top and bottom of the economic ladder, has risen sharply in many countries over recent decades. It has also fueled political polarization and populist nationalism, and could threaten global stability.
Most people worldwide consider inequality a problem. In 36 of the 46 nations surveyed, majorities say the gap between rich and poor is a very or somewhat big problem. People on the ideological left are more likely than those on the right to believe that problems with education contribute a lot to this, while fewer say that differences in work ethic or people being born with more opportunities play a significant role.
A country’s tax system can influence economic inequality. For example, a policy that lowers taxes for corporations and the wealthiest individuals can increase inequality. Conversely, a policy that redistributes some of the wealthiest people’s taxes toward schools and public services can reduce inequality.
Although there are a wide variety of causes of economic inequality, experts agree that the growing divide between the wealthy and everyone else has become a critical factor in many countries, including the United States. The solution to this issue lies in addressing the root causes of the problem. This includes enacting policies that protect and strengthen unions, reducing corporate tax cuts, raising the minimum wage, and increasing funding for schools in low-income neighborhoods. It is also important to spread awareness of this issue. This can be done by discussing the matter at school, at your family dinner table, at your workplace, or in your place of worship. In addition, people can volunteer to help address this problem, which will give them a firsthand look at what it means for those who live with inequality on a daily basis.
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