There is a prevailing concern regarding the growth of inequality in modern society. While opinions vary on the extent of this problem, it is undeniable that the gulf between rich and poor remains startlingly high in the developing world, and will continue to be so. I personally am of the opinion that government should aim for cutting down that gap in order to prevent issues that impoverishment can cause.
One significant factor contributing to this idea is that income inequality may be the cause of disruptive behavior among masses that struggle to make ends meet. Due to the lack of means or faculties to make a meaningful contribution to the community they can experience a feeling of despondence that can result in protests and other violent actions. Additionally, individuals coming from a lower socio-economical background may struggle to afford a higher education which is considered a prerequisite for future economic growth of the country. By having a decrease in the number of people with a university degree once highly developed countries may encounter stagnation in the nearest future.
The repercussions of this issue are far-reaching and action should be taken desperately. First and foremost, government should make sure that wealthier population pays progressive taxes. Thus this money can be used to form funds that can support those who are in daily struggle for survival. Moreover, some actions should be taken to make education more accessible for everyone. To give an example, institutes of higher education can initiate scholarships and grants for prospective students from low income families. By doing so, students most likely be more motivated to succeed in their learning journey.
Taking everything into consideration, the progressively growing gap between rich and poor stems from various factors and carries significant consequences for society. To address this issue , concerted efforts must be made by developed countries to weigh out which policy to pursue.