How does social inequality affect economic growth?

Political Sociology Social Inequality Questions



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How does social inequality affect economic growth?

Social inequality can have a negative impact on economic growth. When there is a significant gap between the rich and the poor, it can lead to social unrest, political instability, and a lack of trust in institutions. This can hinder economic development and investment, as well as create barriers to social mobility and opportunities for individuals. Additionally, social inequality can result in unequal access to education, healthcare, and other resources, which can limit human capital development and productivity. Therefore, reducing social inequality and promoting more equitable distribution of resources can contribute to sustainable economic growth.