Economics Welfare Economics Questions
Wealth inequality refers to the unequal distribution of wealth among individuals or households within a society. It is a measure of the disparity in the ownership of assets, financial resources, and property. Wealth inequality can be measured using various indicators such as the Gini coefficient, which ranges from 0 (perfect equality) to 1 (maximum inequality). Factors contributing to wealth inequality include differences in income, education, access to opportunities, inheritance, and systemic factors such as discrimination and economic policies. High levels of wealth inequality can have negative social and economic consequences, including reduced social mobility, increased poverty rates, and social unrest.