After producing this blog it has sprung to my attention the levels of inequality not only in the UK but globally as well. After watching videos and reading through articles I have learnt the reasons of inequality and the effects it has on society today. For example the increased levels of poverty will lead to higher costs of healthcare so there’s an opportunity cost as the money cant be put elsewhere such as education. During my research I have been made aware that the levels of inequality around the world has been amplified by technological changes in the economy. This means that companies are changing from being labour intensive to capital intensive, therefore the levels of incomes are increasing due to the amount of lay-offs and redundancies increasing. The levels of inequality in the UK are increasing rapidly and I am lead to believe that this paid a vital role in the Brexit decision.
I would be interested to see the fluctuations in the levels of inequality, poverty and distribution of income and wealth once the UK actually leave the EU. This would not only have effects on the UK but the rest of the EU due to the removal of one of the biggest components of the organisation.