Reflection

Amy’s Review of Economic Inequality

This topic has been an eye opener, as naturally, I assumed that there would be some inequality within the distribution of income and wealth in the UK but not at an extravagant level. After completing research and really getting involved with the topic, I soon realised that this was not the case. I have also discovered that measuring economic inequalities is not as easy as it seems as for example, different nations tally income and wealth in many ways whereas some nations barely tally reliable stats at all.

Out of the 30 OECD countries, the UK has the seventh most unequal income distribution and the fourth most unequal income distribution in Europe. Although South Africa has one of the worst distributions of income with a Gini co-efficient of 6.34. In my opinion economic inequality is a  fundamental of economics that should receive a lot more attention from the media which would allow a lot more action to be taken place to help and end the suffering of those who are living in such extreme levels poverty and injustice.

 

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2 thoughts on “Amy’s Review of Economic Inequality

    1. Although I am hopeful that inequality will improve, I think that if no further intervention and action is undertaken then equality will deteriorate. This is because the world is rapidly changing and day by day we are gaining more knowledge and information, increasing our education and therefore increasing our MRP. Those who do not have access to education are being left behind and will carry on being left behind until significant changes are made. Until the gap between the rich and poor has been narrowed, inequality will continue to exist.

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