1. Introduction and definition
In recent years, inequality has become a major topic of concern due to its negative impacts on societal development. Among these, economic inequality consistently garners significant attention from scholars and politicians worldwide. Economic inequality not only directly affects the quality of life of individuals but also leads to numerous other consequences such as environmental pollution, social vices, and hindrances to medical and educational advancements. As a result, this issue has contributed to unnecessary social conflicts. Some believe that the wealthy should actively engage in helping and donating more to improve the lives of those in need. In contrast, others argue that the wealthy have already made substantial contributions to society and thus are not obligated to do more.
In reality, it is evident that many billionaires across the globe have made significant contributions to the advancement of the global economy. Additionally, their charitable activities are immensely valuable, both materially and spiritually. Personally, I believe that demanding the wealthy contribute more to society is an unreasonable viewpoint and should be dismissed.
Economic inequality refers to disparities in wealth, assets, or income among individuals within a country or between people across nations worldwide. The wealth gap between the poor and the rich varies in every country, but generally, the poor often possess very little or no assets. They are limited to taking on low-paying jobs with meagre salaries, barely enough to sustain themselves. In contrast, the wealthy have access to favourable working environments with high incomes, where even one month’s salary may suffice for an extended period of living expenses. This disparity has given rise to numerous social problems, and unfortunately, such issues are also evident in our country, Vietnam.
2. Fundamental Causes of Economic Inequality
- a. Life Opportunities:
Imagine the difference in quality of life between a child born into a wealthy family and one from an impoverished family. For example, consider the disparity in access to quality education between a poor student and a rich student. In families with financial difficulties, earning money is often prioritized above all else. Many children in such circumstances must start working at a very young age to help support their families. This often results in high dropout rates among students in impoverished rural areas. Without formal qualifications, finding stable employment with a high income becomes nearly impossible, perpetuating a cycle of poverty. On the other hand, children born into affluent families have access to safe, advanced educational environments. They are also provided opportunities to develop soft skills that enable them to maximize their potential. As a result, their future job prospects are significantly better than those of children from underprivileged backgrounds.
- b. Social Status:
To achieve wealth, one needs not only knowledge, skills, and mindset but also a network of beneficial relationships. As the saying goes, “Birds of a feather flock together,” no one in society typically seeks to form close ties or partnerships with individuals of lower social status, as they often appear to offer little significant value. As a result, impoverished individuals struggle to build meaningful connections with the upper class that could help elevate their circumstances. This lack of access to influential relationships prevents them from securing high-income jobs comparable to those of wealthy individuals with high social standing. This dynamic significantly contributes to increasing economic inequality.
- c. Political Influence:
In some countries, tax rates on citizens are exceedingly high, often reaching up to 50% of their income. This heavy taxation greatly impacts people’s lives, especially the poor, who already struggle to earn even a small amount of money but still bear the burden of such taxes. Additionally, many nations today are embroiled in intense conflicts. The war between Russia and Ukraine serves as a clear example. Such unjust wars cause substantial losses in both human lives and property, leaving the poor even poorer and further exacerbating economic inequality.
3. Addressing the Question: “Should the Wealthy Contribute More and Take Greater Responsibility in Addressing Economic Inequality?”
As the world continues to develop, the gap between the rich and the poor is widening. This disparity has negatively impacted the quality of life, increased poverty rates, and hindered progress in healthcare and education globally. Economic inequality not only diminishes living standards but also affects individuals’ mental well-being. Studies suggest that people in unequal societies often report lower life satisfaction and higher rates of depression. If these issues persist, the progress of humanity may face a significant threat.
These negative impacts have led to misguided perceptions among certain individuals about the contributions of the wealthy to society. Many believe that billionaires and millionaires should share more of their vast wealth to help disadvantaged communities worldwide. While this view has some merit—since resolving economic inequality would indeed benefit from the involvement of billionaires—it is unreasonable to demand that the wealthy shoulder this responsibility entirely, as it is ultimately their choice.
The wealth of the rich is not something that appeared out of nowhere. For example, Jack Ma, one of China’s most successful entrepreneurs, once shared that he failed his college entrance exams twice. After graduation, he faced immense struggles, submitting applications to dozens of companies only to face rejection repeatedly. These hardships fueled his ambition to start his own company. Despite numerous failed startups, he eventually built influential empires such as Alibaba and Taobao. This demonstrates that accumulating wealth is never easy—it is the result of relentless effort and perseverance. Therefore, it is unfair to dismiss their hard work as mere luck or to assume that their contributions to society are a given.
Objectively speaking, the wealthy contribute not only by boosting GDP, paying significant income taxes, and creating jobs for thousands through their businesses but also by engaging in philanthropy. For example, American billionaire Warren Buffett has made 16 charitable donations over the years to five organizations, with a total contribution of $41 billion. This shows that many wealthy individuals around the world have already devoted substantial resources to improving the lives of those less fortunate. Instead of perceiving these acts as obligations, it would be more constructive to recognize and appreciate their contributions.
4. Conclusion
In conclusion, economic inequality is one of the most serious and escalating issues in society today. This disparity has brought numerous negative impacts on the development of our country and the world as a whole. Consequently, some nations have introduced policies aimed at eradicating hunger and reducing poverty. Furthermore, many philanthropic wealthy individuals have contributed substantial resources to charitable initiatives to assist those in need.
However, to win a battle, unity among all individuals is essential. In my opinion, the responsibility to reduce wealth disparity does not solely lie with national leaders or the wealthy. Ordinary citizens and those in difficult circumstances must also have the will to rise above their situation and change their own lives. Additionally, they should refrain from relying entirely on government subsidies or demanding greater contributions from the rich, as such attitudes only diminish their drive to improve.
5. Solutions
Minimizing economic inequality is not only the responsibility of the upper class but also the duty of all humanity. Efforts must be made to stabilize and restructure the economy, increase productivity and quality to enhance economic efficiency and bring greater benefits to society as a whole. Vocational training for individuals in difficult circumstances or without sufficient qualifications should be strengthened to improve labour quality, increase income, and provide stronger credit support for the poor. Politically, the government must create a favourable investment and business environment for all individuals in society and implement supportive policies for business and trade activities. In terms of social welfare, there should be active efforts to build schools and hospitals to ensure that all citizens have access to the best living conditions. And above all, the poor must cultivate the will to strive upward, improve themselves, and change their circumstances.