Social Wellbeing Inequality and Solutions

Abstract

This paper aims to discuss the topic of income inequality theoretically. Income inequality, a persistent and multidimensional challenge, has deep-seated causes and wide-ranging damages. This paper states several potential causes of the income inequality and gives reasons that why these are the triggers or the catalysts of income inequality. Also, potential damages can be comprehensively indicated in people’s daily life. Income inequality can even influence other social wellbeing that affect the living standard for people. As a global dilemma requiring remedy, comprehensive policy approaches, addressing education, taxation, social safety nets, and more, are necessary to resolve this problem, which are discussed in this paper. Demonstrations about the effect of these policies are made as well. Yet, feasibility varies widely, influenced by political, economic, and social factors. To evaluate these policies, the limitations and drawbacks are vital elements. This paper also includes these evaluations. Crafting an equitable future requires collective effort, drawing on successful policy solutions and acknowledging the complexities of income inequality. While policy implementation may be challenging, the pursuit of a fairer and more just society remains crucial.