Economic Inequality

Economic inequality refers to the disparity in income and wealth distribution among individuals or groups within a society or economy. It encompasses the differences in financial resources, access to opportunities, and overall economic power that exist between various demographics, such as social classes, regions, or races. Economic inequality can manifest in various forms, including disparities in wages, educational attainment, and access to healthcare and other essential services.

It is often measured using indicators such as the Gini coefficient, which quantifies income distribution on a scale from 0 to 1, where 0 represents perfect equality and 1 represents complete inequality. High levels of economic inequality can lead to social tensions, hinder economic growth, and affect overall societal well-being. It is a significant topic of discussion in economics, sociology, and public policy, as addressing economic inequality involves complex interactions among factors such as taxation, labor markets, education, and social services.