The Saga of Income Inequality: A Three-Dimensional Problem and a Non-Existent Solution?
Income and wealth disparity is one of the defining problems of our time. In sophisticated economies, the wealth gap between the rich and the poor is at an all-time high. Inequality developments in emerging markets and developing nations have varied, with some countries experiencing declining inequality while others continue to experience entrenched disparities in access to education, health care, and finance (Gradín, 2021). As a result, governments and scholars are debating the extent of inequality, its origins, and what to do about it. More