Economic Inequality exists, and that's an axiom, however, the understandings of what leads to economic inequality and methods used in an attempt to mitigate or reduce the magnitude differ greatly.

We can all agree that economic inequality represents disparities between individuals' incomes and wealth. This concrete phenomenon can serve as a reliable indicator of whether to expect social riots and detect probabilities of social revolution.

The higher the inequality, the higher the chances of a new revolution.

It may sound radical but think about it, it really makes sense.

• Slavery as an ecosystem exploded once people started realizing how much money and wealth is being distributed in the hands of few at the expense of many.

• Feudalism got replaced violently as the Economic inequality between feudal lords, serves and urban elite became unbearable.

• Socialism proved to be unsustainable as it systematically enables one party to take control of money and means of production.

• Capitalism isn't better either, allowing private companies to influence government policies, prioritizing corporate interests as opposed to national.

Seems like there's no way out, or is it?

DATA

Forbes counted 2,095 billionaires in the world, just before the global pandemic took over the world, thus decreased the number of billionaires by 226

Forbes counted 2,095 billionaires in the world as of March 18, 2020, when it finalized its most recent rankings—and that was after 226 people dropped off over 12 days due to pandemic-induced market turmoil.1 Meanwhile, the most recent data from the World Bank tell us that, in 2015, about 736 million people globally were living on less than $1.90 per day.2 That's actually a big improvement from 1990 when 1.9 billion people lived in extreme poverty2 and the world had only 269 billionaires.

Not sure if they calculated the inflation since billion dollars now was worth a lot more then.

In the last decade, total wealth in the world increased, our living standard improved, our lifetime expanded but wealth distribution remains the problem. It's an issue we are struggling with for a long time and as it seems so far, we are nowhere near finding the solution.

If we start by the premise that inequality is natural, does it mean that economic inequality is natural as well and as such should be left alone?

I don't know.

The majority still likes to believe in meritocracy, the idea that people advance in wealth, status, and social ladder through hard work, not privilege, but inequality of opportunity can limit upward mobility.

The general premise regarding inequality of opportunity is that kids who come from wealthy families have more chances to succeed if compared to kids whose parents work at the bakery. Not trying to disrespect anyone, just building a case.

So the question is not how to liquidate the economic inequality, rather reduce inequality of opportunity by providing the same educational and health care system to all citizens. At least I like to think that way.

Would like to hear your thoughts.

what you think would be the best system to mitigate such disproportions and should we leave the market to deal with it or let the governments intervene?

Do you think blockchain technology and cryptocurrencies might bring an and to it or even increase the difference?