Presently the gap between rich people and other group or individual remain wider than ever.
If the trend persists without a great intervention by state governments, charity organizations, concerned UN organizations, policy makers, individuals & agencies, it becomes distress to those who concern about the well-being of nations.
However, disregarding the repercussion will bring a huge cost, and hence unfortunately the worst will be the misery and loss of human being.
What will be your view?
The widening gap between the rich and the poor is indeed a significant and complex issue, impacting social, economic, and political spheres globally. Several factors contribute to this disparity, including globalization, technological advancements favoring skilled labor, tax policies, education inequality, and more. Here are a few perspectives and considerations on the matter:
While the gap has been increasing but the gap between the lower end of the rich and higher end of poor may not be so much of a concern, as the higher end of the poor is getting better. Therefore, the only way to make a meaningful assessment is to determine how many poor category of people have been lifted out of the Poor line. This ultimately depends upon
- Level of Employment and unemployment
- Level of education
- Level of Inflation
- level of corruption
- Controlling level of Population growth
Given that ever Political party in its own self interest will like to address the first 3 factors, it is the 4th factor that needs to be continuously addressed. If Governments can do that then their will be more equal ground for both poor and rich and the gap will ultimately reduce.
Level of Population control is a factor that in my opinion will be best determined by the people themselves looking at its impact on them based on the above 3 factors.
Great insight from both scholars. Yeah, the issue seems complex despite being able to address by all stakeholders. In this case, as stated focusing more in absolute poverty than relative poverty maybe important, though the gap in both scenarios still remains a daunting challenges, especially in absolute poverty case.
So as stated to my thought more of the burden has to be laid to state or government bodies as they are primarily responsible in controlling the above five factors and make an awareness to the people, though most of the time in reality government is liable in setting out a system to address the problems.
They need to put the right Policies for a sustainable economic growth and a good governance mechanism in place to oversee the right implementation of these Policies.
In case government is also carrying out economic activity, the activity needs to be based on sound economics depending upon the purpose of such economic activity and a governance mechanism of the institution that carries out such economic activity.
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