Inequality in World Income

1 Introduction

In an era of rapid globalization and technological advancement, world income inequality is becoming a more and more serious problem. The growing disparity between the wealthy and the poor, more than simply shaping economic outcomes, has profoundly influenced social mobility, educational opportunities, and political stability across nations. For this project, we will be using the World Income Inequality Database maintained by the United Nations University World Institute, which contains over 24000 data points across 201 countries in over 40 years including measures like population, GDP and income. Our analysis aims to uncover patterns and trends in global income distribution. We are particularly interested in examining how income inequality has evolved over time and understanding the relationship between a country’s economic development and its income distribution. The fact that income inequality has been influential in poverty reduction, social cohesion, and sustainable development goals makes our investigation meaningful. By analyzing the data, we hope to provide insights into the drivers of income inequality and solutions to promote more equitable and inclusive societies.

1.1 Questions Interested:

• How income inequality changes over time and across regions?
• Will economic growth increase or decrease income inequality?