Essay On Negative Effects Of Income Inequality

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Negative effects of income inequality Income inequality consists of the differences in the income and wealth distribution (Oxfam, 2014, p2). It is also described as the income gap between the poor and the rich. A few years ago, concerns about growing income inequality decreased mainly from a belief that it is only discriminating. Now the source of apprehension has significantly grown. The dominant concern now is that inequality may have harmful effects on a range of outcomes, such as health, economic growth, happiness, attitude and behaviors in the society. Specifically these outcomes have a negative effect on the low-income populations. Moreover, income inequality for low-income families triggers poor health outcome, unhappiness and low …show more content…
Consequently income inequality causes the low-income population to be less happy. Happiness is defined as enjoying, showing or marked by pleasure, satisfaction, or joy. Income is clearly related to happiness and life satisfaction. Wealthy people are more happier than poor not because of the amount of money they can have, but because of the opportunities their money can give to them. In a circumstance where certain groups have better opportunities than others, the level of happiness will turn to the group with better opportunities only. Therefore, as income inequality increases, inequality of subjective well-being increases as well because rich people become happier and low-income people feel left over in all domain of their life. As a result poor population become unhappy. In these conditions of income disparity, it won’t be possible to see low income people happy because as Shigehiro Oishi, Selin Kesebir and Ed Diener (2011) in the article “Income inequality and happiness” affirm that low income people have the feeling that in a situation of income disparity rich people are becoming wealthier and low-income populations are becoming more poor (p.2). These feelings bring resentment, which lead to unhappiness. Moreover, the article “For richer, for poor” in The Economist (2012) writes that wider income can stop brilliant, capable low income individual to be educated or provoke anger that can cause a general devastating revolution (p.4). Because of the situation of income disparity, Low income individual with certain competences, and potentialities do not get the opportunity to go to school, and improve their knowledge and become independent. In contrast wealthy people have the opportunity to go in the best school, have the best instructor and better life. As a results low income people do not have the instruction needed to have a better jobs, wage, and life as a

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