Income inequality is defined as the unequal distribution of household or individual income across the various participants in an economy.
Income inequality is often presented as the percentage of income to a percentage of population. For example, a statistic may indicate that 70% of a country's income is controlled by 20% of that country's residents.
It is often associated with the idea of income "fairness". It is generally considered "unfair" if the rich have a disproportionally larger portion of a country's income compared to their population. What are your thoughts? Do you want to post/write any examples of income inequality near you?
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