Oes income inequality hurt economic growth?
Income distribution is the most interest topic in economics, in particular when we talk about income inequality. When we look around us we can see that income disparity is huge topic at the present time. Its clear that some citizens are better-off than others. So, we can see there is a gap between the rich and poor people. Also, there is a gap between some countries.
My primary question is does income inequality hurt economic growth? I am going to take two countries as example Kingdom of Saudi Arabia and Nigeria. This paper is going to talk about Nigeria Economy. Then I will discuss the income distribution, and how dose income inequalities affect economic growth? Also this paper will examine the effect of income inequality on poverty in Nigeria, and the gap between the rich and the poor people. In addition, I am going to examine if there is solution to poverty reduction.
On the other hand, I am taking Kingdom of Saudi Arabia as a second case. I will discuss the economy of KSA, as is known Saudi Arabia is the second largest oil producer in the world. Also, I will examine the effects after the price of oil fall down, and how this affected the rate of growth, and income distribution. In addition, I will examine what are the options that KSA has in order to achieve the convergence?
Please follow this structure:
My primary question i??does income inequality hurt economic growth?i??
Taking Nigeria as first example: and telling about:
1- Nigeria economy
2- How does income inequality hurt:
Economic growth in Nigeria
Poverty in Nigeria
Nigeria is the largest oil producer in Africa can they use oil revenues to reduce inequality?
Taking as second example:
2-income distribution in KSA
3-how does income inequality hurt economic growth in KSA?
4-Is there specific policy being used to address income inequality in KSA?