Question

What is meant by economic inequality? What steps can be taken to reduce this economic inequality?​

Answer 1

Explanation:

The Causes of Economic Inequality

(iii) Growth in technology widens income gap. Growth in technology arguably renders joblessness at all skill levels [3]. ...

(iv) Gender does matter. In many countries, there is a gender income gap in the labor market [3]. ...

(v) Personal factors. ...

(ii) Globalization.

Six policies to reduce economic inequality

Increase the minimum wage. ...

Expand the Earned Income Tax. ...

Build assets for working families. ...

Invest in education. ...

Make the tax code more progressive. ...

End residential segregation.

Answer 2

Explanation:

Economic inequality is the unequal distribution of income and opportunity between different groups in society. ... Education, at all levels, enhancing skills, and training policies can be used alongside social assistance programs to help people out of poverty and to reduce inequality.

Six policies to reduce economic inequality:

1. Increase the minimum wage. ...
2. Expand the Earned Income Tax. ...
3. Build assets for working families. ...
4. Invest in education. ...
5. Make the tax code more progressive. ...
6. End residential segregation.

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