Abstract

Income inequality is a big issue that deserves much more coverage in the policy discussion. It is a global issue. Study found that income inequality is growing worldwide, with increasing per capita GDP. The lowest 40% of the world's population gains less than 25% of the total income. The growing national income is accrued to the wealthiest people around the globe. In many nations, the top 1% of people are receiving an increasing share of income. Not only the poor or developing countries, but also the developed economies are suffering from this disease. This paper noted that income inequality is a global problem, and nations should come out from this crisis; if not, the recent growth will be growth without equality. Since income inequality can be eliminated, and it is a matter of policy choice, policymakers should, therefore, take appropriate measures in this regard.