Income
inequality
has become the focus of political debate and press attention over recent years. The reason is the disparities of
income
distribution between rich and poor are rising. The trend of rising
income
inequality
causes a growth of
unemployment
rates as well as
crime
rates. In my opinion,
however
, the problem of
income
gap
can be solved by reducing levels of
corruption
, and raising the minimum wage.
Income
gap
creates a number of problems in society. One of these problems is the increase in
crime
rates, because poor people who are financially in trouble, easily commit
crime
in order to maintain their families.
For instance
, today, countries with a higher
level
of
income
inequality
suffer from high levels of
crime
.
In addition
, unequal
income
distribution leads to the problems associated with
unemployment
. To illustrate, researches conducted in developing and underdeveloped countries found an association between high
unemployment
rates and high levels of
income
equality.
Thus
, the growing problems associated with both
crime
and
unemployment
can be considered
as a result
of the
income
gap
.
To address these problems, there are a handful of effective solutions.
Firstly
, countries with unequal countries in terms of
income
suffer from high levels of
corruption
. If policy makers desire to reduce
income
inequality
, they should halt political
corruption
.
For example
, South Korea, where had the highest
level
of
income
equality in 2015, has achieved to minimise the
corruption
rates over a period of a decade, and today the country has a lower
level
of the
income
gap
compared to the given year.
Additionally
, raising the minimum wages is the effective way to reduce the
gap
between rich and poor.
For instance
, after Turkey raise the minimum wage (2020 TL) in 2018, the
level
of the
income
gap
decreased considerably despite the fact the average
income
of the richest 10% of the population is still about nine times that of the rest of the population in Turkey.
Therefore
, government should take into account to fight against the
corruption
, and raise the minimum wages.
In conclusion,
income
inequality
is a growing problem around the world. It comes with the growth of
crime
rates, and
unemployment
rates.
However
, the policy makers can address these social and economic problems by implementing rational laws related to political
corruption
and the minimum wages.