Economic Inequality

Economic inequality refers to the unequal distribution of income, wealth, and economic resources among individuals, households, groups, or countries. It is commonly measured by the Gini coefficient, income and wealth shares, and ratios between richer and poorer groups. Karl Marx located inequality in class relations of ownership and exploitation, while Max Weber emphasized market position, status, and power. Vilfredo Pareto studied the regular distribution of income, and Simon Kuznets proposed that inequality first rises and then falls with development, a claim later contested. Thomas Piketty argued that when returns on capital exceed growth, wealth tends to concentrate, and Anthony Atkinson proposed policies to reduce inequality. Pierre Bourdieu showed how cultural and social capital convert advantage across generations, and Melvin Oliver and Thomas Shapiro documented the racial wealth gap. Richard Wilkinson and Kate Pickett argued that unequal societies suffer worse health and social outcomes, while Branko Milanovic studied global inequality. Kingsley Davis and Wilbert Moore defended inequality as functionally necessary, a view criticized by Melvin Tumin. Economic inequality remains central to research on class, poverty, mobility, taxation, and social justice.