Government Intervention and Income Equality
Income equality can be understood as the disparity or gap in the distribution of economic assets between individuals or groups. It encompasses not only the income but also the welfare of individuals or groups in the country. In an article of The Economist dated October 13, 2012 about inequality and the world economy, the twin forces of globalization and technical innovation were noted to have narrowed inequality globally, with the poorer economies catching up with the richer economies. However, income gaps within countries were found to have widened. With the increasing disparity of income between individuals and groups in ...
