Income Inequality and Economics

Income Inequality is an element of the human condition that has incentivized debate among all members of society. Income inequality is, in fact, the central issue of economic debates between Democrats and Republicans, and conservative and liberals. On the one hand, Democrats and liberals argue that a few people in America control the whole wealth of the United States; and these few people are the ones responsible for the enlargement of the wealth gap. On the other hand, conservatives and Republican hold that billionaires are rich because they are the ones who have the means to produce wealth, so they, therefore, deserve to be rich. Regardless of who is right upon this argument, income and wealth inequality is an issue that will never be fully solved because economics is a perpetual cycling phenomenon. The purpose of this book is to explain the economic, social, cultural, and political factors that contribute to the development of income inequality as a necessary evil in society.