We live in a world dominated by capitalism. It rose to prominence with the end of feudalism and has remained the dominant economic system of developed countries ever since. With the rise of developing countries due to globalization, capitalism is only going to become more a more prevalent (if not the only) economic system in an increasing number of the world’s countries. With that in mind, it is important that we understand the inherent traits of capitalism and to actively seek out a way to develop a sustainable form of capitalism that does not result in negative social change. One of these inherent traits is inequality—we need proper incentives to be productive, to work hard and to be innovative. Therefore, some inequality is inevitable; however, the question is how much inequality is too much and when it becomes a problem. A major form of inequality comes in the form of individual income, which is a much debated topic, as it represents how much an individual is compensated for the goods or services that individual provides.
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