Definition
Economic disparity encompasses the notable discrepancies in earnings, assets, and availability of resources across people, households, or groups within a given society. The phenomenon highlights the imbalanced allocation of economic advantages and opportunities, frequently leading to divergent levels of prosperity and socio-economic outcomes. Drivers include gaps in education, job opportunities, institutional bias, and unequal access to finance. Common indicators include income inequality, the wealth gap, and social mobility. Addressing disparity often involves policies that promote inclusive growth, expand access to quality education and healthcare, and distribute resources more equitably.
