In contemporary society, the distance between the wealthy people and the economically disadvantaged is significantly widening. Also, there is a debate on the issues this phenomenon could lead to. This essay addresses these problems; plus, some practical solutions will be cited as well.
To begin with, the economic disparity between the rich and the poor has been causing a number of unpleasant situations in society. For instance, the quality of an individual’s life has a direct correlation with their wealth. In other words, the more money a person gain, the more services and goods they are capable to purchase, which enables them to develop their condition of life. Hence, the people who live in poverty lack a quality life, making them disadvanntaged in different terms. Furthermore, wealth inequality can bring poor people extreme disadvantages, so that they might have no choice except for becoming a criminal for a living. As a result, crime rates will gradually increase in the public.
Nevertheless, there are steps that could be taken to diminish the intensity of this issue. As an example, governments could play a crucial role in redistributing wealth among the poor. First, authorities should implement higher tax rates on the rich, and accordingly use this amount of money to help poor families; for example, by providing socially disadvantaged opportunities to educate free. Second, goverments can facilitate the distribution of money among the public by offering them loans with low interest rates.
To conclude, the increasing gap between the rich and the poor, and the challenges this could bring are undeniable. However, this issue could be considerably reduced by governments, meaning that authorities can use their power to adopt functional approaches to make the society balanced.