According to socialist theory, what contributed to the economic gap between the rich and the poor?

There is difference among the various levels of societies and there social status, financial and economic level inside the region.The different generations inside the societies experience a different standards of life. But, the professionals have analyzed the whole situation and have termed the reason for such situations due to the lack of land and plantations for the generation of profit for the underprivileged people inside the region or the society.

As, rich or we can say the high class of people are more into the industrialization of the region and placing more pressure on the free folk to develop there skills to cope with the developing society and the obstacles that a underdeveloped society faces.

While, there are are different factors which greatly influences the whole situations of the economic and social status of the different levels of the civilization.While, the different level of people inside the society faces the unprecedented situations due to lack of resources to generate the profit.

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Answered by EmranUllah | 2024-06-12

Socialist theory attributes the economic gap between the rich and the poor to exploitation of labor, ownership of the means of production, lack of access to resources, institutional barriers, and historical inequalities. It emphasizes that wealth concentration benefits a small elite while marginalizing the working class. Solutions include wealth redistribution to promote equality in society.
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Answered by EmranUllah | 2024-12-26