The gap between the rich and the poor is becoming wider; the rich are becoming richer, and the poor are getting even poorer. What problems can the situation cause? What can be done to reduce this gap? Give reasons for your answer and include any relevant examples from your own knowledge and experience.
To follow globalization, economic boost is being the backbone of the development of any country. Therefore, the disparity between wealth and poverty is more obviously evident, which makes poor individuals more destitute and well-off ones richer. This essay will discuss the underlying consequence and pinpoint the mitigating solution to this issue.
It is undeniable that the discrimination relating to the materialistic possession of each citizen causes undesirable problems, and the escalation of housing prices is the most conspicuous one. To describe, in this day and age, however hard-working and laborious white-collars are, purchasing an apartment, let alone a house, seems impossible when millionaires tend to manipulate the estate by buying all on-sale accommodation. For instance, in Taiwan, the housing experts have calculated that the average cost of a medium-sized flat has increased up to 20 times more than that in New York, which leads the low-income citizens to live in sub-standard blocks.
Despite the aforementioned drawback, the solution may be available for both local authorities and residents. In order to bridge this gap, education needs to be a top priority for investment. Since academic learning is likely to be a sustainable foundation for people to get a well-paid job afterwards, many nations have been allocating millions of dollars into this field. Singapore, for example, is one of the pioneering countries in revolutionizing and improving the standard of education to create an intelligible workforce via huge investment into not only facilities and academic materials. Therefore, the brighter chances to fill the gap of income are higher.
In conclusion, spending money on improving knowledge will increase the chances of closing the income difference.
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