Economic inequality has a profound impact on social well-being

Abstract

Economic inequality, defined as the unequal distribution of wealth, income, and resources, has become a pressing concern in modern societies. This document provides an overview of the causes, consequences, and solutions to economic inequality, highlighting its far-reaching impacts on individuals, communities, and societies. We explore how wealth inheritance, discrimination, globalization, and policy decisions contribute to economic inequality, and how they lead to poverty, social exclusion, and political disempowerment. We also discuss potential solutions, including progressive taxation, education and job training, labour rights, and social safety nets. Finally, we urge individuals and societies to take collective action to address economic inequality, promoting a more just and equitable world for all.