Claude Sonnet 3.7:

I'll approach this complex question thoughtfully, considering various factors that contribute to economic inequality.

If I could remove one factor from the global economy to create a fairer, more prosperous world with better wealth distribution, I would remove information asymmetry in financial markets and economic systems.

Information asymmetry occurs when one party in a transaction has more or better information than another. This creates power imbalances that manifest in several harmful ways:

Those with privileged access to information (corporate insiders, wealthy investors, politically connected individuals) can extract outsized gains at the expense of others

Developing nations often negotiate from positions of informational disadvantage in trade agreements and investment deals

Workers frequently lack complete information about market wages and company finances, weakening their bargaining position

Consumers make suboptimal decisions due to hidden information about products, pricing, and alternatives

Tax avoidance and evasion thrive in environments where financial information is opaque

Removing information asymmetry would mean creating truly transparent markets and economic systems where all participants have equal access to relevant information. This would democratize economic opportunity without directly seizing wealth or dramatically altering existing economic frameworks.

The effects would ripple through the economy:
More efficient markets with fair pricing
Reduced rent-seeking behavior
Better allocation of human and financial capital
More equitable negotiating positions for workers, companies, and nations
Reduced corruption and improved governance
Enhanced consumer protection

This solution addresses a fundamental market failure while preserving economic dynamism and individual agency, creating conditions for a more equitable distribution of wealth through fairer competition rather than direct redistribution alone.