Policies to Influence Income and Wealth Distribution in an Economy

The video discusses income and wealth inequality, exploring both interventionist and free market approaches. It explains how inequality is measured using the Lorenz curve and Gini index, and why addressing it is crucial. The interventionist approach advocates for redistributing wealth through taxation and benefits to stimulate growth, while the free market perspective views inequality as a natural byproduct of growth. The video also covers the Universal Credit system as a means to incentivize work and reduce reliance on benefits.

In what way can inequality be seen as a byproduct of economic growth?

What are the potential negative effects of high tax and benefit systems according to free market economists?

How does the Universal Credit benefit system aim to incentivize work?

What is the long-term perspective on inequality according to the free market approach?