Income inequality from "summary" of Globalization by
Income inequality refers to the unequal distribution of income among individuals or households within a society or a country. It is a complex issue that has significant social, economic, and political implications. This disparity in income can be measured using various indicators such as the Gini coefficient, which quantifies the degree of income inequality within a population.
One of the key factors contributing to income inequality is globalization. As countries open up their economies to trade and investment, certain individuals and industries may benefit disproportionately from these changes, leading to a widening gap between the rich and the poor. Globalization can also result in the outsourcing of jobs to countries with lower labor costs, further exacerbating income inequality in both developed and developing nations.
In addition to globalizatio...
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