Essay On Economic Inequality

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High level of economic inequality is huge impact on our society including political, economic, politic and environmental sectors and widening gap between rich and poor is largely expressed by the global leaders (World Economic Forum 2013, cited in Hümbelin, O & Farys, R 2016, p. 136). When we think about economic inequality, most economists generally think about three main distinct features which are income, wealth and consumption and income inequality is the most obvious one to measure (The Economist 2014). Myanmar is one of the developing countries and we also face challenging in economic inequality while we are trying to economic growth. Myanmar’s consumption in inequality is projected to be much higher in urban area than rural area (World…show more content…
Equal access to education may promote graduation rates and vocational schools also produce employable people so that it probably creates job opportunities and reduce income inequality. To reduce economic inequality, labour market policy is essential one. It is needed to protect workers and unfair treatment. In Myanmar there are lack of minimum wage, redundancy rules, equal remuneration for work of equal value and unemployment protection after one-year employment (World Bank 2017, pp. 93-99). These policies are essential for job satisfaction and job security and government need to deal with this issue as soon as possible. As a result, employment rate will increase, and it can minimize economic inequality. Another issue that our government should handle is budget policy and distribution should be clear and complete. In Myanmar, there are limited fiscal policy and quality of expenditure will be critical especially in labour intensive sector and services delivery, health and education areas (World Bank Group 2014). In addition, most poor people live in rural areas and poor access to critical services. Although road and transportation system improve in new government period, there are still difficult to reach remote areas. If people from all regions can access basic services and infrastructure networks so that rural areas will develop and it will become empowered to participate in income earning opportunities such as

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