Economic Inequality is the unequal distribution of income and opportunity between different groups in society. It is a concern in almost all countries around the world and often people are trapped in poverty with little chance to climb up the social ladder.
Income and wealth inequality in the United States in substantially higher than in almost any other developed nation and is on the rise.
From: IZA: World of Labor. (2022). What is economic inequality? https://wol.iza.org/key-topics/economic-inequality#:~:text=Economic%20inequality%20is%20the%20unequal,climb%20up%20the%20social%20ladder.
Related Terms: Wealth gap, capitalism, income inequality, poverty, corporate greed
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