Economics explained: What can we do about inequality?

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.

Author: Joe Myers, Writer, Formative Content, Anna Bruce-Lockhart, Editorial Lead, World Economic Forum

• A new explainer video from TEDEd and the World Economic Forum looks at inequality.
• From how to measure inequality to what countries are doing to reduce it, the explainer explores key questions.

Income and wealth inequality are nothing new. Indeed, economists and historians have never found a society without it.

But how do we measure it? What causes it? And how do countries go about trying to reduce it?

Inequality explained

If you’re interested in the answers to all these questions, start by watching this video explainer, created by TEDEd in collaboration with the World Economic Forum. It looks at the Gini index (a measure of inequality), how government choices contribute to economic inequality and how some countries manage to keep inequality lower than others.

Deeper dive into the challenge of inequality

For more information on inequality and the global economy, check into the articles, videos and podcasts available on the World Economic Forum’s platform for Economic Progress. You can also find more animated videos like the one above on TEDEd’s YouTube channel.

In May 2022, the World Economic Forum released its Jobs of Tomorrow: The Triple Returns of Social Jobs in the Economic Recovery report. It explored the role of a changing labour market in building more inclusive economies and societies.

Late in 2021, the World Inequality Report, highlighted the extent of global inequality – in particular the impact of the COVID-19 pandemic.

Economics explained

Economics has had a huge impact on the world we live in – and understanding the key factors at play in these massive, interconnected systems can give us insights into how to make them better, more stable and more equitable.

To find out more, dig into a new series of quick and compelling explainers from TEDEd and World Economic Forum at ed.ted.com/worldecon. Many articles, videos and podcasts to answer all your economic questions are also waiting for you at weforum.org/focus/economics-explained.