Reasons for increasing gap between the

rich and poor?

Nowadays, while the world has developed unprecedentedly, the economic inequality has become
a source of controversy. In this essay, I will clarify the justifications for this wealth disparity.

Firstly, the difference in education intrinsically have great influence on the level of economic
well-being among society. Particularly, these days, educational background plays a crucial role
for most people to boost their career prospects. Indeed, the wealthy one who can afford higher
education such as tertiary and academic credentials will definitely prevail over the
underprivileged experiencing financial problems culminating in educational adversities and
shortages. Therefore, chances are that on the ground of inferior educational background, the poor
will be easily get stuck in the poverty trap while the rich become increasingly wealthy, thus, the
gap between the two social classes.

Secondly, the emergence of globalization is also attributed to the increasing gap between the rich
and poor. The increase in the international mobility of firms, wealth, and workers has intensified
the rich poor gap. For example, companies and wealthy people have become increasingly able to
shift capital to countries with low tax rates or to tax havens, allowing them to avoid paying more
redistributive taxes in their home countries. And in both developed and developing countries,
technological progress has exacerbated these trends by favoring skilled workers over unskilled
ones and creating economies of scale that disproportionately favor corporate managers.

In conclusion, personally,…