
Economic inequality is a highly debatable topic, yet it is frequently misunderstood.
Economic inequality refers to “income inequality distribution” and “wealth inequality distribution”.
What Is Income Inequality?
According to investopedia, Income inequality is an extreme concentration of wealth or income in the hands of a small percentage of a population. It has been described as the gap between the richest and the rest.
When we speak about economic inequality in this article we are speaking about countries with democratic systems because those with totalitarian regimes are equally poor except their leaders and oligarchs.
Yet when speaking about income inequality in …
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