Global Economic Inequality in the 21st Century: Causes, Consequences, and Solutions

Abstract

In the contemporary era, global economic inequality has emerged as a pressing and multifaceted challenge with far-reaching implications for societies worldwide. This abstract encapsulates a comprehensive exploration of the causes, consequences, and potential solutions to this complex issue. The causes of global economic inequality are deeply rooted in a myriad of factors, ranging from historical legacies and institutional structures to technological advancements and globalization. This study delves into the intricate web of forces that have contributed to the widening gap between the affluent and the disadvantaged, both within and among nations. By examining the interplay of political, social, and economic forces, we aim to unravel the intricate mechanisms perpetuating inequality on a global scale. The consequences of escalating economic inequality reverberate across various domains, affecting not only individuals and communities but also the overall stability and sustainability of the global economy. This research scrutinizes the impact of inequality on social cohesion, political stability, and economic growth, offering a nuanced understanding of the multifaceted repercussions that necessitate urgent attention.