Title: Causes, Effects & Solutions for Economic Inequality - E&C
Headings: Economic Inequality: Causes, Effects & Solutions
Causes, Effects & Solutions for Economic Inequality
Economic Inequality: Causes, Effects & Solutions
In this article, the causes, effects and solutions for unequal wealth distribution are examined.
Audio Lesson
Contents
Is Wealth Equally Distributed on a Global Scale?
Causes for Global Wealth Inequality
Differences in education levels
Geographic conditions
Heritages
Tax advantages
Family income
Differences in public infrastructure
Political motives
Globalization
Differences in technological advancements
Corruptive actions
Unemployment
Homelessness
Drug use
Effects of an Unequal Distribution of Wealth
Poverty
Lack of education
Homelessness
Use of substances
Lack of health insurance
Hopelessness
Frustration
Mental issues
Physical health issues
Discrimination of minorities
Conflicts
Fundamentalism
Solutions for Economic Inequality
Global support
Trade
Fair labor conditions
Better access to education
Create jobs
Global wealth tax
Donations
Adjust your consumption behavior
Raise awareness on this topic
Conclusion
Sources
About the author

Content: Globalization
Even though globalization has significant upsides, it also poses some problems, especially for poor developing countries which are often exploited by the Western world. For instance, there are still many companies that do not care about fair labor and only pay quite low wages in poor countries since it increases their profits. Therefore, for people in those countries, globalization can also contribute to poverty rather than wealth. Differences in technological advancements
Technological progress is crucial in order to escape poverty and to raise the average income levels of countries. However, in poor countries, the amount of money that can be afforded for research usually is quite low compared to the rich Western world. Hence, poor countries tend to be left behind when it comes to the latest technological advancements, which in turn exacerbates the poverty issue. Corruptive actions
Corruptive activities may also contribute to differences in global wealth levels. In some countries where bribing still is a big problem, plenty of tax money may be wasted for the pleasure of single individuals rather than to improve the living conditions of the general public. Therefore, due to corruptive actions, improvements in infrastructure or other important measures may not happen sufficiently fast and the general public may pay the price for it. Unemployment
In some regions, there is a quite high level of unemployment, while in others, almost all people have a job.