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What's the difference between gap and inequality?

  • Date 2024-02-28
  • Hits 152

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Video Description

Type: KIHASA Policy Featurette

Topic: What's the difference between gap and inequality?

Guest Speaker: Lee, Tae Soo, President, KIHASA


Transcript

Before exploring the “gap society,” let me explain the difference between ‘gap’ and ‘inequality.’ Inequality refers to a condition in which income, assets, and the like are not equally distributed. However, Korean society today is better captured by ‘gap’ than by ‘inequality.’ Gap refers to a divergence between two groups in terms of income, wages, living standards, and so on. Unlike inequality, gaps have inherent characteristics. Over time, gaps lead to a daunting situation we know as polarization. Polarization is the segregation of one group into two, the bitter consequence of which is impeded social integration.

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