The term typically refers to inequality among individuals and groups within a society, but can also refer to inequality among nations. There is debate as to what equality should mean. Some think in terms of Equality of opportunity and others in terms of Equality of outcome.

There are many posited solutions from those who see economic inequality as improper; these solutions usually concentrate on equality of outcome and/or opportunity. Aside from the ethical arguments against inequality, there is evidence that "inequity aversion" is a shared human characteristic.

Economic inequality has always existed; its nature, cause and importance are open to broad debate. A country's economic structure or system (such as capitalism, socialism and everything in between), ongoing or past wars, and individuals' different abilities to create wealth are all involved in the creation of economic inequality.

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