Some nations encountering the problem of rapidly increase of The cost of living. People are facing the increasing expenses of their daily life. There are different reasons behind this situation in different countries, but few reasons are common among them these are: domination of capitalist forces on the economy and most is rising income inequality. These two major culprits play a vital role in sharply rise in the cost of living.
Though capitalist role is pivotal for the expansion and growth of an economy, bout if business grants get power of market force they they can destroy the syster for ther benefits. As we all know private bunnesses run on a sole motive of earning forofit, they can do anything fer their vested interest, for example, when industrialisation was on its peak in western countries, business owners fetch more forofit bary “exploiting natural and human resources extensivly. As Countres like France and UR faced the Joroblems. externly fatis a result ment pollution and health, which ultimatly leads to a disturbance in economic structure. Now, In the current senario few industrilist are creating situation by holding the supply of essential products, including, heatth care which leads to the situation of inflation in some of the wond. a
The second reason mentioned carlier is income inequality. This means maximum wealth of a country. is helded by few people. For example, if 70% of nations income is used boy 10% of the population which means rest of the 30% is divided among 90% which is inequal destibution. In other words a rich beberme richer and rest of the population is deliberately pushed towards poverty. This also create a situation in which huge population is forced to lead a life in a hand to mouth.
Both reasons income inequality and domination of capitalist power in an economy give rise to other curses like increase in unemployment-bate amory young generation, rise in cuminal activities, creation of inflation, and an invest in the society.