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


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.