Why income and wealth inequality matter, By Uddin Ifeanyi
In Nigeria, these have shown up in weak consumer demand, underinvestment in human capital, lower productivity growth, greater political instability, fiscal pressure on the state, reduction in social mobility, and a general trust deficit that has increased domestic transaction costs.
Essentially, the economic burden of inequality is that it turns a large share of the population from a potential source of productivity, and demand into a spring of unrealised capacity, and increased social cost., reportedly warned, last week, of the threat to the economy’s outlook from the rising inequality in how income and wealth are distributed in the country.
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