Global Inequality And The Wealth Gap

[Fragrance1122]

The difference in wealth owned by rich and poor people is called the wealth gap.
A small part of the world’s population owns most of the global wealth, while the majority have very little financial security.

Inequality exists between countries, within countries, between urban and rural areas, and between skilled and unskilled workers. 

 Why does the wealth gap exist?
It is because of several factors: 
• Unequal access to education 
• Unequal access to healthcare 
• Differences in economic opportunities 
• Technology and automation 
• Tax and economic policies 
• Historical factors 

  A large wealth gap leads to:
• Higher poverty 
• Social and political instability 
• Migration from poorer regions to richer ones 

How can countries reduce inequality? 
And why is economic growth not reaching everyone equally? 

[SatoPrincess]

You listed the obvious problems, and imo the solutions aren’t as complicated as they make it seem. If a nation wants to build its economy, the first step is look at the countries that have a stable economy as a model. Their healthcare, access to quality education e.t.c.

My country is rich in oil yet one of the poorest nations in the world. So it’s not enough for a country to have resources or economic growths, ultimately it’s how the wealth is distributed to the people that matters. That includes access to healthcare, quality education and basically UN’s SDG goals.

[Mr_Brilliant$]

Your fingers are not equal. There is just a balance that everyone cannot be wealthy. The people that really know how to move money will interact with everyone that has equal money and add it to there's. Some individuals are just exceptional human. But at the sametime, while developing and growing, we should also keep in mind that growth is not same as distribution. Just as a few thet are wealthy and think that's what how everyone is.

[Smartvirus]

You listed the obvious problems, and imo the solutions aren’t as complicated as they make it seem. If a nation wants to build its economy, the first step is look at the countries that have a stable economy as a model. Their healthcare, access to quality education e.t.c.

My country is rich in oil yet one of the poorest nations in the world.

The development of a nation always comes down to good leadership. The resources might be available, natural and human resource but, once you haven’t got leaders that are visionary, leaders with the mind to build and make better, it’s always going to end in ruins.

Certainly there is always more to this than it meets the eyes, the politics that was instilled through colonization, puppet and puppet master leaderships and one of the worst of all is the national debt that remains a controlling factor on many nations. Where you’ll find certain nations having to sell their rights to generating revenue through using certain national assets as collateral.

The wealth gap is always going to increase and it would take a highly innovative leader to cut right between and narrow the gap.

[Opiate32]

Growth can create more money in an economy without creating equal opportunities to build wealth.
Two people can have similar source of income but if one has access to other different opportunities like investments while the other person just spend most of his income just trying to survive, their financial position will definitely become different with time and this is one major reason economic growth does not reach everyone equally.

If most people can only afford to consume while a small group has the ability to invest then the wealth gap can continue growing even when the economy itself is also expanding.
So I will say reducing inequality is not just about making everyone earn the same amount but should be about making it possible for more people to move from just surviving to building wealth.

[Decimetre]

The only thing that anyone can do including the government is to minimise the wealth gap is described by the OP. The world has various factors that cause everything to work the way they do. People's behaviour towards money is also a factor. Some are easy money makers and don't easily spend their money while others don't make money easily but easily spend them.  If everyone becomes very conscious of the way they treat the amount of money that comes into their possession, the wealth gap will close to a large extent but when expenditure is on the rise, this gap will widen.

Rich people are very money minded and they don't throw wealth around but the poor masses have various ways of wasting their resources and proving to be who they're not. The volume of money anyone has will go a long way to determine the level of health care they can access. Closing this gap simply means getting the poor to minimise spending and allowing free flow of resources to bother parties.

[viljy]

~
How can countries reduce inequality? 
And why is economic growth not reaching everyone equally? 

If you are truly interested in the answers to these questions, you should read Stiglitz’s book “The Great Divide: Uneven Societies and What We Can Do About Them,” and Piketty’s book “Capital in the Twenty-First Century.” By the way, inequality is measured using the Gini coefficient. Inequality is measured by income level (for example, in Russia it is approximately 0.42) and by the concentration of wealth (for example, in Russia it is approximately 0.82).

[Ishicryptic]

Your fingers are not equal. There is just a balance that everyone cannot be wealthy. The people that really know how to move money will interact with everyone that has equal money and add it to there's. Some individuals are just exceptional human. But at the sametime, while developing and growing, we should also keep in mind that growth is not same as distribution. Just as a few thet are wealthy and think that's what how everyone is.

Indeed all fingers are not equal and no matter how developed a country is there will always be the poor among them but the irony is that a poor person in a developed country can be living more comfortably than a rich person in an undeveloped country. There is no equality in wealth distribution, some are born into wealthy families which means that they will not struggle to survive while others that are born into poor families have to work very hard to escape poverty. Wealth gap is very noticeable in poor countries because the number of poor people are too much due to their bad economies, a person who would be considered a middle class will be seen as very rich in a poor country, and this is why many people in poor countries are finding ways to migrate to rich economies where they will get a better life for themselves and their families. This is so because as there are different classes of people in a country so it is with countries, some are richer than others. We cannot stop inequality, it depends on every individuals to better themselves so that they can climb over to a higher class to live more comfortably.