Visible Economic Inequality: Daily Widening Gap Between the Rich and the Poor

By: Kelvin Acha

Outreach Manager


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The gap between the rich and the poor in our society is widening on a daily basis, however you can measure how close the rich live next to the poor with just a stone throw. Standing in a well developed and beautiful estate of the rich in the capital city of Nigeria, you can actually look across to the other end only to sight terrible slums where the poor live.

 

Social scientists described this wide gap between the rich and the poor as Economic Inequality.  A proven concept that consists of disparities in the distribution of wealth and income in a given society. The determination of wages by the capitalist market present in modern economies such as ours, are the major cause of economic inequality. This is because the wages for jobs are set on supply and demand, which translates to low income for jobs that are high in supply and low in demand.

Obviously, such kinds of jobs that are high in supply are mostly unskilled labour which requires no formal education or skills acquisition and are done by the poor, as they are unable to gain any formal education or skills to raise their income level. Hence, the actual saying of the rich getting richer and poor getting poorer, which drives us back to our main subject matter of the widening gaps between the rich and the poor.

 

Even when we cannot blame the rich for getting richer and may even attribute their hard work to luck sometimes, there is a need for us to balance the equation where the poor can also benefit from the society through empowerment by basic education and skills acquisition to the appropriate quarters as well as development of infrastructures and the provision of basic amenities for the poor.

 

Infinite Respite Foundation aims of empowering the less privileged through basic education and skills acquisition will definitely set the equation right by limiting the widening gap between the rich and the poor. This we are sure will definitely happen in our society as we drive our initiatives and outreaches one day at a time.

 

You want to be part of this great initiative? Then consider becoming an IRF Volunteer or sponsor and contribute your skills, time and resources to make this a reality,

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