Wealth redistribution

Definition

Wealth redistribution refers to the transfer of wealth, usually through government policies or programs, from one group or individual to another. The aim is to reduce economic inequality by reallocating resources and opportunities.

Related terms

Progressive taxation: Progressive taxation is a system where tax rates increase as income or wealth increases, aiming to redistribute wealth by taxing higher-income individuals at higher rates.

Social safety net: A social safety net refers to government programs designed to provide financial assistance and support to individuals or families facing economic hardship.

Income inequality: Income inequality refers to the unequal distribution of income among individuals or households in an economy.