Socio-economic inequality in the national and global spotlight: a contemporary view on the issue

Abstract

The article discusses the main aspects and forms of socio-economic inequality in today’s world, such as: wealth and income inequality, gender inequality, life-level and life-quality gaps between rural and urban people and workers from various branches of the national economy, educational inequality and poverty, inequality on the labour market, wealth inequality by age, digital inequality and stratification. It is emphasized that socio-economic inequality and polarization in any economic system, both national and global ones, occur due to objective factors and have positive (stimulating) effects. Clearly, it is not proper to measure inequality only by using traditional indicators, namely, GDP per capita, Gini coefficient, Kaitz index, etc., because they do not make it possible to reveal all the forms and threats under the conditions of current political and geo-economic transformations. The integral indices have been characterized through which socio-economic gaps can be assessed for qualitative parameters, including the Social Progress Index, the Quality of Life Index, and the Inclusive Development Index as the most complete and suitable tool for identifying inequalities at the national and global levels. The author has established the fact that wealth and income inequality is an essential but not the only aspect of inequality in today’s world, and that all forms of inequality are linked by cause-and-effect relationships. The research paper provides a partial comparison and an analysis of the current state in Ukraine (by forms of inequality). It is pointed out that in recent years the issues of educational inequality and digital stratification have been among the main threats for the future socio-economic development. Overcoming the challenges will be possible through national and international poverty alleviation policies, aimed at increasing the inclusive development of the world’s economies and leveling the activities of extractive institutions.