Income Inequality Terms

noun a person's income that is guaranteed to be provided at regular intervals, typically on an annual basis

• The concept of guaranteed annual income is being discussed as a potential solution to poverty.
• Some people think that guaranteed annual income could help solve financial struggles.
• Guaranteed annual income is like a safety net for those in need.
• Think of guaranteed annual income as a financial cushion that everyone deserves.

noun a person or group of people who are employed but still live in poverty

adjective describing the state of being both employed and living in poverty

• The working poor are individuals who have jobs but still struggle to make ends meet due to low wages.
• It's tough out there for the working poor, trying to juggle work and bills with little to spare.
• Those working stiffs just can't catch a break, always scraping by paycheck to paycheck.
• The working poor are like hamsters on a wheel, constantly running but never getting ahead.

noun a type of capitalism that is based on digital platforms

• Platform capitalism refers to the economic model where companies create value by facilitating exchanges between users on a digital platform.
• Platform capitalism is all about making money by connecting people through online platforms.
• In the world of platform capitalism, it's all about leveraging digital spaces to maximize profits.
• Just like a virtual marketplace, platform capitalism thrives on bringing buyers and sellers together in a digital ecosystem.

noun a social class formed by people suffering from precarity, which is a condition of existence without predictability or security

article a word that is used to specify a noun as definite or indefinite; in this case, 'the' is specifying 'precariat' as a specific social class

• The precariat refers to a social class characterized by instability and insecurity in terms of employment and income.
• Many young people today belong to the precariat, constantly moving from one temporary job to another.
• The gig economy has created a new breed of workers who are part of the precariat.
• In the modern economy, the precariat are like nomads, never settling in one place for too long.