Causes of income inequality

Causes of income inequality
Income inequality is a complex issue driven by various causes. One major factor is the decline in wage growth for low and middle-income workers, while top earners continue to experience significant income growth. Technological advancements and globalization have led to job displacement and reduced bargaining power for workers, contributing to this disparity. Additionally, the declining role of labor unions and government policies favoring the wealthy have exacerbated income inequality. Socioeconomic factors such as education, race, and gender also play a significant role, creating unequal opportunities for economic advancement. These multiple causes intertwine to create a challenging and persistent problem of income inequality in societies worldwide.
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