Income and wealth inequality

Key causes of income and wealth inequality

  • Education- people will not have the skills and training required to be able to have some jobs which are typically higher paid. Therefore, they will lack experience to get other jobs in the future
  • Age discrimination or unfair treatment based on a person’s age can impact on someone’s confidence, job prospects, financial situation and quality of life.
  • Ownership of financial assets- people of a higher income are increasingly investing in stocks and shares, which is leading to the rich becoming richer, however the ‘trickle down effect’ is not occurring as this is a self-benefitting investment
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