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Is inequality inevitable?

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Economics Explained

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Income and wealth inequality are not new. In fact, economists and historians who have charted economic inequality throughout history haven’t found a single society without it. Which raises a bleak question: is inequality … inevitable? Explore how economic inequality can be measured and how it is impacted by different governmental policy choices.

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With climate change projected to damage the global economy by $30 trillion annually by 2075, a majority of economists agree that it will deepen existing inequalities between richer and poorer countries. To explore solutions, actions, and policies some economists are proposing, head over to the Sustainable Development 2021 Summit for a virtual discussion

During the pandemic, a new billionaire was created every 30 hours. In many countries, inequality increased. Profits rose for large corporations while skyrocketing food and energy prices triggered global unrest. 60% of low-income countries are on the brink of debt distress

Capitalism, in its rawest, most unfettered form, provides profits to investors with little regard for the well-being of workers. But there are people who are trying to change that. Stakeholder Capitalism imagines a market-based economy that works for workers while meeting the shifting demands of a rapidly changing society and technologies. In this video-podcast, Natalie Pierce and Peter Vanham explore how workers’ conditions and power have deteriorated in the last number of decades. They also look at current examples and practical ideas and policies for empowering workers and how that will benefit society as a whole. (Click here for the audio version.)

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Economics has had a huge impact on the world we live in—and understanding the key factors at play in these massive, interconnected systems can give us insight into how to make them better, stabler, and more equitable. Dig into these quick and compelling explainers from TED-Ed and World Economic Forum for a taste of economics in action.

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