A Comparative Analysis of Alternative Economic Models in Addressing Global Inequality: A Multi-Faceted Evaluation of Effectiveness and Sustainability

Skyler Mitchell; Cameron Nelson; Thomas Young; Dana Evans

Authors

Skyler Mitchell PhD
Cameron Nelson Professor
Thomas Young D.Sc
Dana Evans Associate Professor

Keywords:

Global Inequality, Economic Models, Neoliberalism, Socialism, Mixed Economies, Income Disparity, Policy Reform, Economic Sustainability

Abstract

The increasing global inequality poses severe ramifications for economic stability and social cohesion. This study conducts a comparative analysis of various economic models, including neoliberalism, socialism, and mixed economies, evaluating their effectiveness in reducing inequality. Using empirical methods such as regression analysis on longitudinal data from 2000 to 2023, we assess the impact of these models on inequality metrics across multiple countries. Our findings indicate that mixed economies demonstrate the highest effectiveness in mitigating inequality, while neoliberal approaches exacerbate disparities. This research contributes to the ongoing discourse on economic policy and offers actionable insights for stakeholders aiming to promote equitable growth.

Author Biographies

Skyler Mitchell, PhD

PhD
Harvard University
Massachusetts Hall, Cambridge, MA 02138, USA

Cameron Nelson, Professor

Professor
University of Mannheim
L 5, 1, 68131 Mannheim, Germany

Thomas Young, D.Sc

D.Sc
London School of Economics and Political Science
Houghton St, London WC2A 2AE, UK

Dana Evans, Associate Professor

Associate Professor
The University of Sydney
Camperdown NSW 2006, Australia

References

Adeoye, Y., Adesiyan, K. T., Olalemi, A. A., Ogunyankinnu, T., Osunkanmibi, A. A., & Egbemhenghe, J. (2025). Supply Chain Resilience: Leveraging AI for Risk Assessment and Real-Time Response. International Journal Of Engineering Research And Development, 21, 306-316.

Капарова, Г. Т., Кантороева, А. К., & Усенова, А. Т. (2025). Кыргыз Республикасынын жалал-Абад областынын мисалында аймактык ишкердикти өнүктүрүүнүн натыйжалуу жолдору. Вестник Ошского государственного университета, (1), 161-171.

Rzayeva, F. (2025). Technology in Financial Services: 10 Key Tools. Science, Education and Innovations in the Context of Modern Problems, 8(3), 546-559.

Papaskua, I. (2025). Tourism as a powerful and dynamic industry of the world economy: Unconditional opinions on Nodar Grdzelishvili's new monograph:" Tourismology-the science of tourism". Business and Legislation, 18(1), 81-83.

Rahimov, E., Rahimov, J., & Allahverdiyeva, N. ANALYSIS AND MODELING OF IoT-ENABLED TELEMATICS PARAMETERS FOR MONITORING ENVIRONMENTAL POLLUTION CAUSED BY VEHICULAR EMISSIONS.

Руденко, М. Н., & Ганин, И. О. (2012). Основные принципы концепции развития общественного транспорта мегаполиса (на примере города Перми). Региональная экономика: теория и практика, (32), 36-41.

Ахундова, А. Г. (2024). SWOT-анализ развития событийного туризма в Республике Азербайджан.

Ахундова, А. Г. (2021). Экономика и внешнеэкономическая деятельность Азербайджанской республики. Norwegian Journal of Development of the International Science, (67), 28-32.

Бабаев, Ф. Ф. (2020). КОНКУРЕНТОСПОСОБНОСТЬ ПИЩЕВОЙ ПРОМЫШЛЕННОСТИ СТРАН. In Актуальные проблемы обеспечения экономической безопасности государства, регионов, предприятий (pp. 26-29).

Avdeev, A.P. Macroeconomics Study Guide. - M.: Law and Law, Unity-Dana, 2015 .-- 352 p.