How Economic Inequality Affects Society

Economic Inequality pic
Economic Inequality
Image: fairobserver.com

Having taught economics and finance for more than two decades, Antonios (Tony) Antoniou leverages his expertise to lead Financial Research, Training & Consulting, LLP. As a consultant, Antonios Antoniou educates clients on various economic topics that can impact their future.

According to the magazine Foreign Affairs, economic inequality continues to be an issue in the United States as well as in European countries, such as the United Kingdom, Sweden, and Germany. The managing director of the International Monetary Fund noted in a statement in 2014 that the 85 richest people in the world held an equivalent amount of funds as 3.5 billion of the poorest.

The primary struggle to balance wealth comes from society’s inability to disburse opportunities equally. Households with more disposable income can afford superior services, ranging from health care to education, while those with limited means may be able to access basic services at best. As a result, households with less income have fewer resources to help them reach their full potential, thus keeping many in financial disparity and adding to the global issue of producing lower and less durable economies.

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