Coming Up With Solutions for Economic Inequality

Introduction


Economic inequality is an emergent phenomenon that has attracted the attention of a wide range of professionals including economists. It can get described as the classification of the gap in various measures of economic well-being among individuals in a group, groups in a population, and countries in a region. Some of the measures widely used by economists in their study of the phenomenon include wealth, income, and consumption levels. In some areas, inequality has gotten described as the cause of societal upheavals including petty stealing and political uprisings (Ianchovichina, Mottaghi and Devarajan).
Proposed measure of eliminating inequality

As a phenomenon that showcases itself on a mass scale, efforts to address inequality should start at the formative stages of an individual. If society makes high-quality childcare and education available to all people irrespective of class or religion, there can be marked differences regarding closing the gap between the wealthy and poor, those who find research papers for sale and those who can't afford it.

Why the measure will reduce inequality

The proposed intervention encourages society to address the issue of unequal access to economic opportunities. By having the state take over the function of childcare, many resources are free for use in other endeavors including investments and the beneficial use of time. Children are also freed to take up the much more pressing issue of education which earns them skills that enable them to compete effectively in the labor markets. When the issue of healthcare burdens get addressed early, the focus in the minds of the deprived shifts from what one lacks to what one does with the opportunities available. The effect of such a mind shift in various classes of society would mean that people get to complete by their natural talent and attitudes towards work as opposed to entitlement to resources.

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