EXTRA) is rising inequality something to be worried about?

Those who believe it’s good, or at least necessary, argue that it provides incentives to entrepreneurs and a source of overall investment for the economy. Those who believe it’s bad argue that it can prevent poorer people from investing in their education and encourage the rich to grab a bigger slice of the economic pie without making the pie any bigger. In my opinion, rising inequality will bring bad impacts on all group of society especially in the economic aspect. First, If there are large numbers of poor people, economic growth may be affected by their inability to invest in education and their lower health levels, among other factors. Second, If inequality “squeezes” the middle class, it may reduce its demand for goods and services. Third, If inequality means rising incomes among the rich, it could see them accumulate savings, which banks can then lend out, so increasing investment in the economy. Or, the rich may use their economic power to lobby against policies that don’t serve their needs, for example investment in public health and education. Inequality will not only destroy the growth, but also cause great social conflict, so we have to always check and look after the problem.

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