How can inequality undermine the development of a country Essay

How can inequality undermine the development of a state - Essay ExampleIn comparison, economic inequality is far more quantifiable and measurable. To put it in simple terms, economic inequality is a disparity in income. This disparity can exist at bottom a village, a country or between different countries. According to Ray it permits ace individual(a) certain material choices, while denying another individual those very same choices. There are some(prenominal) methods to measure this inequality, which, I will elaborate on later.According to noted economists Sen and Foster (1973), inequality is deeply interlinked with rebellion and the fall of dynasties. It has been said, that the French and Russian Revolutions were brought about ultimately by the inequality that persisted within the respective(prenominal) societies and the failure to address them. The relationship between inequality and growth or development is often polemic and existing research is still inconclusive in terms of ascertaining the actual cause and effect all(prenominal) variable has on the other. Development in the terminology of economics refers primarily to economic growth and expansion, which normally leads to an increase in incomes. The crux of equality or inequality is how much of the population (i.e. which segments) benefits from this growth. If only one segment of the population witnesses an increase in incomes than economic, inequality exists. Different economists and researchers have come to different conclusions on the relationship between economic inequality and economic growth, these range from inequality having a positive shock absorber on development to inequality causing economic stagnation. As mentioned before both of these conclusions are a cause for debate and neither has been accepted as definitive. What is clear, however, is the fact that both inequality and growth are affected by several factors that are independent of either. The many volumes of research and econom ic literature obtainable on the subject focuses on the basic question of whether development and inequality