The Redistribution of Income and Wealth

The redistribution of income and wealth refers to the ways society adjusts the distribution of financial resources among its members. This can occur through taxes, welfare programs, and social services aimed at reducing economic inequality. For example, higher taxes on the wealthy can fund public services like education and healthcare for lower-income individuals. The goal is to create a more equitable society where everyone has access to basic needs and opportunities, fostering a fairer economy and improving overall social welfare. Redistribution is often debated in terms of its effects on incentives, growth, and fairness.