Before starting my essay, I would like to introduce some special abbreviations and proper names that appear in my speech. The first is the OECD. OECD is the abbreviation for the Organization for Economic Co-operation and Development. It is essentially an intergovernmental economic organization with 36 member countries, which promotes economic growth and global trade. The second is the Gini coefficient, which represents the level of inequality, for example the level of income. The Gini coefficient of zero expressed as perfectly equal (e.g., everyone has the same income) and the Gini coefficient of 100 percent expressed as maximum inequality (e.g., one person has all the money). The third is social mobility. The meaning is exactly as the name suggests: the movement of people within social stratification or in other words, social hierarchy. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”?Get the original essayHow would you feel if you were one of the 800 million people who went to bed hungry every night? Right now, countless people are forced to endure the suffering of poverty and starvation, through no fault of their own, while millions of people in developed countries gorge themselves on excessive amounts of food. These same insatiable people waste enormous amounts of money and resources to maintain their exorbitant and disgustingly luxurious lifestyle. While five cents may seem absolutely insignificant, in some parts of Africa it can actually feed a family of four for more than a week; for us, five cents is nothing, for them, it is a question of life and death. So how would you feel if you were one of the 168 million children aged 5 to 17 who have to work to earn money to survive and can't go to school because of it? In such situations, the government must consider the need to reduce the gap to a desirable level to balance society. For starters, the wealth gap undermines equality of opportunity. Imagine in your mind that you are the parent of your child. What would you do when you are a parent of your child? Would you leave children unsupervised for so long, for example: just playing in a ball in a park, aimless days as time well spent? Or rather, would you spend money to send your child to algebra camp or to learn music or performing arts? So here's the point: different opportunities. This type of enrichment for children was intended to ensure the best possible start in life. It's a bit like starting a lifetime race competition in which every parent wants to get off to a good start by providing potential financial support, and it seems like the race is won by the rich. One sign of this is that wealthier families may invest more in their next generation, which may lead to unequal status in terms of opportunities and different opportunities may affect them differently in their adult life outcomes. Data from the United States revealed an increase in income inequality between the 1970s and 2007. According to researchers Sabino Kornrich and Frank Furstenberg, the spending of the poorest 10 percent of Americans on their children increased by 23 percent. percent, while those of the richest 10 percent increased by 23 percent. spending on their child increased by approximately 132%hundred during this period. It's like an investment for the children of the richest families. So what is the impact? According to Sean F. Reardon of Stanford University, "the achievement gap between children from high- and low-income families is about 30 to 40 percent larger among children born in 2001 than among those born twenty-five years earlier. » And here is the graph that proves it. Here's another piece of data that shows a child's family income plays an important role in determining the child's future income. This figure shows a child's future earning potential. The green bar represents the child's adult income below $28,900, which corresponds to the bottom 20% of the income distribution, and the purple bar represents the child's adult income above $81,700, which corresponds to the top 20% of the income distribution. The horizontal axis represents the parents' income level. It shows that children born into low-income families are more likely to remain poor, and that children born into affluent families are more likely to remain affluent. To conclude this data, parents' income level is increasingly linked with their children's success in education and this leads to their success in life and, as Nicholas Lehman wrote last year, “opportunity is increasingly linked to education, and educational outcomes are linked to income and wealth.” The government should therefore reduce the wealth gap between rich and poor to provide equal opportunities to the next generation and make society fairer, more equitable and impartial. Second, inequality is bad for economic growth. Recent OECD researchers say that across OECD countries, an average increase in inequality of 3 Gini points is estimated to have reduced GDP by 8.5 percent over recent decades, making it other terms would mean that it would weigh on economic growth by 0.35. percent per year for 25 years. One of the main reasons given by OECD researchers is that high inequality leads low-income families to invest less in education and skills. They found that the poorest 40 percent of children are missing out on costly educational opportunities, which leads to less productive employees, which leads to lower wages, which means lower participation in the economy , which means it is bad for economic growth. Here is a line graph that shows the relationship between inequality and the predicted average numeracy skills of people with low, medium and high parental education, which is the PEB. The graph shows that as inequality increases, there is little change in the numeracy skills of people whose parents have medium or high levels of education. On the other hand, the number of people from poorly educated parents decreases when inequality increases. Another reason is that inequality leads to economic instability. Rich people spend a smaller proportion of their income than low-income people, so the rich save money but the poor spend money. This leads to a reduction in demand. Thus, the imbalance between supply and demand is likely to trigger an economic crisis. It is therefore important to reduce inequalities. Third, the gap between rich and poor will lead to many social problems. So what is the relationship between inequality and social problems? On the one hand, inequalities can affect the well-being of individuals. Many people fear that inequality harms societies, making..