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What are some realistic and creative ways to reduce wealth inequality?

I am a a third year student completing a degree in Social Work in Hamilton, New Zealand. I am currently doing a paper on Social and Community Development where I have to consider a topic of interest and then form a plan based on a theoretical perspective to eliminate or reduce a social issue.

My chosen topic is: Then impact of wealth inequality on social cohesion within New Zealand.

I would love to hear some creative and realistic thoughts around reducing this social issue which is a rapidly increasing, world wide issue. If anyone is well versed around topics such as this, stating your political ideology/perspective/basis of your ideas would be a great help so that I am able to further research the good idea's!

The primary focus will be on reducing wealth inequality as by doing this, social cohesion will increase. Despite this, I do hope to develop a small scale plan to increase social cohesion as well to strengthen the assignment.

Thanks heaps in advance :)

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  • May 21 2013: Wealthy people often give. And if they are wealthy enough, start a philanthropy. I think wealthy folks would do a lot more if they could see their money making a difference instead of disappearing into possible corruption or simply going into a top-down paternalistic aid program that treats the impoverished as a class where projects wind up just perpetuating a poverty trap--people "get" stuff and use it up and stay just who they were i.e. needy and poor. People however are not all the same. Some impoverished see solutions but have no venue to borrow or even petition a charity. Microfinance is a recognition of that and its envisioner won the Nobel Prize for implementing it where the poor can get small uncollateralized loans if they substantiate a solution or create a business that benefits the people around where more than enough economy is generated to pay back the loan. I think that this should not be limited to just the destitute in India or Africa but every secondary school everywhere where students can perform local intelligence-gathering and substantiate cases for some better solution that saves the society money and makes opportunity for economy--all while following a unified methodology that keeps the financial books open. If wealthy people could see how their money could make that difference and actually get paid back if not with interest, you have a synergistic society. It's a disgrace to see a wealthy person suddenly die and find air craft hangers full of Rolls Royces and just massive wealth dead to the world in someone's vain shrine to themselves when it doesn't even have to be given away. It can facilitate millions of people and make even more wealth for that wealthy person. This is not an easy thing to do, but with one willing angel investor, some good luck and a lot of salesmanship, many of those now simply monopolizing wealth will put it into a dynamism that facilitates those who reach upward.

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