The gap between upper class and lower class is increasing in some countries nowadays. This issue is attributable to some determining factors, while there are a number of measures that could be taken in order to tackle the problem.
To begin with, income inequality derives from some determining factors. Firstly, globalization can evoke income inequality. It means that some large cooperation shift their production to low-cost countries in which labor force is cheap; hence business owner can mitigate their production cost, thereby increasing their profit, while unemployment rate will increase in home countries, leading to concentration of wealth. Secondly, technological progress can increase the gap between the rich and the poor. To be precise, automating jobs can eliminate jobs which were accessible for lower income such as customer service since artificial intelligence can perform jobs, which unskilled worked once did, so demand for low-skilled worker will decrease, in contrast, high-skilled worker can earn more money in modern world, increasing the gap between skilled workers and unskilled workers.
However, some actions must be adopted to resolve income gap. Firstly, redistribution policy can mitigate income inequality. That is to say, government with adoption progressive taxation, which means wealthy people must pay the more percentage of their income as tax, can generate revenue. This revenue can fund social welfare programs, which can be beneficial for lower- income people. Secondly, access to quality education can diminish income gap. government not only must provide free education but also must focus more on vocation training whereby disadvantage group will be equipped with skills, thereby thriving in job market. As a result, they can break the poverty cycle and increase their income.
In conclusion, globalization and technological progress are the main causes of income gap. However, income inequality, whose dire consequences are undeniable, can be eradicated by providing free education for everyone and adopting redistribution policy.