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Essay On Economic Inequality

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How has the gap in economic inequality changed between countries in recent years?

Introduction

In recent years, one of the most popular global issues which raise concerns among people from all over the world is the gap in inequality between the rich and poor countries. This inequality has existed for decades. Today we are living in the same world, but the social and financial differences still exist and are in a process of increasing rapidly. As with all social problems, there are many possible causes for economic inequality, such as differences in education, technology and capitalism, etc. In this essay, I will take a closer look and analyze several critical factors and introduce a few solutions to adjust this gap inequality within societies. …show more content…

However, there are policies for free education in developed societies, although levels of education can greatly differ between each individual because of their financial and innate ability. A good example of this is Hong Kong. Here, 12 years of free education is provided for each citizen. This is only offered when students receive certain results in public examinations. Receiving the same level of education does not mean each individual receive the same quality of education. In education, both levels and quality play an important role in economic inequality within a …show more content…

The trend where only the rich become richer can be solved by putting more attention on education and investing in human capital. This may not be effected within the next decade because of the growing divide between the poor and the rich in most countries, for example the United States and even Hong Kong. Often, the manner in which resources are being allocated is an obstacle to solving the problem. The problem is a vicious cycle and it will need the joint efforts of governments and all stakeholders to reduce the gap in economic

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