Journal de l'économie mondiale

Income Inequality and its Implications for Global Economic Development

Abstract

Fiao Chen*

Income inequality, defined as the unequal distribution of income among individuals or households within a society, is a complex and persistent issue that has significant implications for global economic development. The distribution of wealth and income has always been unequal throughout history, but the extent and consequences of income inequality have become increasingly prominent in recent decades. This essay will examine the causes and consequences of income inequality, focusing on its implications for global economic development. By analysing various economic and social factors, we can gain insight into the challenges posed by income inequality and the potential strategies to address them.