Question

Explain the causes and the effects of economic disparity. What are some ways that organizations and governments attempt to correct economic disparity?

Answer 1

Economic Disparity means unfair difference and different group of people like different nations or ethnic group.or gender Disparity among labour also the part of economic Disparity.The main reasons behind the economic disparity is globalization, gender discrimination among labors, educational,health and employment status ,caste and race discrimination, income distribution and wealth holding and distribution.

The Government implement there are number of policies to reduce economic inequality like finding in health and education. Assure gender Disparity as part of that implement the minimum wage for each employment.Provide a proportionate community or race reservation to avoid discrimination. Innovate new technology to enhance productivity and Empowerment programmes etc These are help to reduce economic and social in equality. Each countries Government use different measure to count the economic Disparity, the world famous measures are HDI, Gini coefficient.

Economic Disparity affect the economic growth negatively.and which shows the backwardness of the country or economy. Economic Disparity reduces leads to increasing the standard of living. How much economic disparity reduces economy can attain that much sustainable economic growth.