Economic inequality poses challenges for policymakers from "summary" of Economics of Money, Banking and Financial Markets, Business School by Frederic S. Mishkin
Economic inequality is a pressing issue that policymakers must address, as it presents a multitude of challenges that can have far-reaching consequences. When a significant portion of the population is unable to access basic necessities due to their economic status, it can lead to social unrest and political instability. This, in turn, can hinder economic growth and development in the long run. Furthermore, high levels of economic inequality can exacerbate existing disparities in access to education, healthcare, and other essential services. This can create a vicious cycle where those who are already disadvantaged are further marginalized, making it difficult for them to break out of poverty. Policymakers must therefore consider the implications of economic inequality on social mobility and ensure that measures are put in place to level the playing field. Moreover, economic inequality can also have implications for financial stability. When ...
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