Wealth inequality refers to the uneven distribution of assets and resources among individuals or groups in a society. This means that a small number of people, often referred to as the wealthy elite, hold a significant portion of the total wealth, while many others struggle to make ends meet. This disparity can lead to social tensions and limit opportunities for those at the bottom of the economic ladder.
The causes of wealth inequality can include factors like education, inheritance, and economic policies. For instance, individuals with higher education levels often secure better-paying jobs, while those without access to quality education may find it challenging to improve their financial situation. Addressing wealth inequality is crucial for creating a more equitable society.