Inequality can be measured in many ways: income, wealth, consumption, access to housing, education or financial security. Each measure tells a different story.
Wealth inequality can persist even when incomes are similar because assets appreciate and can be transferred across generations. Education and housing markets can reinforce these differences by affecting future earning power and access to opportunity.
Economic policy debates become clearer when the specific form of inequality is identified. Taxes, transfers, education, housing policy and labor institutions address different mechanisms and should not be treated as interchangeable solutions.