Economic inequality
Economic inequality is the uneven distribution of income, wealth, or other economic resources among individuals, households, or groups.
Income distribution: The way income is divided among people or households in a population. It describes the flow of resources whose unequal shares contribute to economic inequality.
Labor market: The system through which workers offer labor and employers demand it in exchange for wages and other compensation. Differences in wages and employment opportunities are major sources of income inequality.
Social mobility: Movement of individuals or groups between positions in a social or economic hierarchy. High inequality can coexist with limited chances to move between income positions.
Economic equality: A condition in which economic resources are distributed equally or with relatively small differences. It is the direct opposite of unequal distribution, though absolute equality is uncommon.
Wealth distribution: The way assets minus debts are divided among people or households in a population. It captures accumulated resources, which can be more unevenly distributed than income.
Capital income: Income earned from owning assets, including interest, dividends, rents, and business profits. Asset returns can widen gaps when ownership is concentrated.
Health inequality: Systematic differences in health outcomes or access to health care among social groups. Unequal resources are associated with differences in exposure, treatment, and lifespan.
Equality of opportunity: The principle that people should have comparable chances to achieve outcomes, regardless of background. It concerns access to pathways, not whether final economic outcomes are equal.
Gini coefficient: A statistical measure of inequality that summarizes how far a distribution departs from perfect equality. It compresses an income or wealth distribution into a widely used summary statistic.
Progressive taxation: A tax system in which higher incomes face higher average tax rates. It can reduce post-tax income differences by collecting a larger share from higher earners.