Rich-poor divide: How do we make sure economic growth is inclusive?

 
EYE2020

Income inequality in Europe is on the rise. The European debt crisis and the Great Recession added urgency to the need to address inequalities and to respond to the middle-class households that feel left behind. However, the benefits of economic growth after the recession have not affected all equally and income inequalities have risen further.

 

How can policy-makers best resolve these inequalities?

Should we be addressing globalisation, technological change, skill mismatches or inadequate social and economic policies?

Should we focus on redistributing existing wealth by taxing the rich, rather than relying on philanthropy?

 

Old building
Image courtesy of Stéphane Guillot

 

What do you think?

Try to be as concrete as possible when answering, the more in depth you go the more impactful your answers will be!

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Glykeria Stavrou
  22 August 2019

Globalization is one of the most important causes of inequalities. People spend money on multinational companies due to the low-cost products they offer, accepting the same time to pay the low-quality price. Thus, the wealth gathering is increased and the inequalities are risen. Philanthropy is an ineffective solution as the rich ,many times, donate amounts of money that come in contrast with their real income. The middle-class need empowerment through a stable source of income, which is the State, and not occasional donations. So, taxing the rich seems to be one of the most effective solutions to blunt inequality.

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