How can a balance be drawn between capitalism and economic equality?


Answer: Capitalism, an economic system that promotes the private generation and ownership of wealth and resources, helps promote innovations and economic growth. However, when left unchecked, it can also be a factor in economic inequality, as people are generally unequal in terms of ideas, drive/grit to push through, and access to capital resources. These provide some dis-proportional advantages of the economic wealth and resources to a few. In an ideal world, most players are expected to be considerate and mindful of equitability and balanced economic development. However, this is seldom the case, hence an approach for drawing a balance is by having government policies and laws, that protect the interest of the general citizenry and prevent bad players from taking advantage of the system. This is a very difficult problem, and a lot of countries are still struggling with this dilemma of striking a balance.