Project 2 economics
The United States income inequality. The list of contributions to this problem adds on as time goes on. Some of them are found education, discrimination and monopoly power. Most people are not aware of the issue. Here is some information.
Some people were introduced to the inequality of economy since they were children. I always hear parents telling their kids “you need to go to school so you can get a good job and make a lot of money”. IN an article published by https://www.brookings.edu. There was an analysis done from 2007 to 2010.The analysis showed that every form of education from less than the highest school to a college degree can make high amount of millions. They only problem is that the probabilities of that happening …show more content…
According to research African American make 25 percent less than the white man. Even if their income became the same. The amount of African Americans compared to white men is less in every income percentage. Women also phase discrimination in jobs. They get paid 20 cents less than men per hour. They also have trouble getting jobs in certain businesses. There are federal laws against discrimination in work places, but there is still a gap.
Monopoly Power where other businesses do strategic things to not let other businesses from becoming competition. So the people working there lose because of their bosses being lazy. They are paid less because they have too many workers for the amount of products being produced. Which is the cause of a middle level economy, according to JPMorgan. Since they are still getting paid and have a steady paycheck, they are still not completely poor. These businesses keep growing and make the middle class growing.
Hopefully all these problems become resolved. Thing like education, discrimination in the workplace and monopoly power are just the tip of the iceberg .Income Inequality is something that everyone has to contribute to diminishing. The first step is to get informed. Our economy is
The United States income inequality. The list of contributions to this problem adds on as time goes on. Some of them are found education, discrimination and monopoly power. Most people are not aware of the issue. Here is some information.
Some people were introduced to the inequality of economy since they were children. I always hear parents telling their kids “you need to go to school so you can get a good job and make a lot of money”. IN an article published by https://www.brookings.edu. There was an analysis done from 2007 to 2010.The analysis showed that every form of education from less than the highest school to a college degree can make high amount of millions. They only problem is that the probabilities of that happening …show more content…
According to research African American make 25 percent less than the white man. Even if their income became the same. The amount of African Americans compared to white men is less in every income percentage. Women also phase discrimination in jobs. They get paid 20 cents less than men per hour. They also have trouble getting jobs in certain businesses. There are federal laws against discrimination in work places, but there is still a gap.
Monopoly Power where other businesses do strategic things to not let other businesses from becoming competition. So the people working there lose because of their bosses being lazy. They are paid less because they have too many workers for the amount of products being produced. Which is the cause of a middle level economy, according to JPMorgan. Since they are still getting paid and have a steady paycheck, they are still not completely poor. These businesses keep growing and make the middle class growing.
Hopefully all these problems become resolved. Thing like education, discrimination in the workplace and monopoly power are just the tip of the iceberg .Income Inequality is something that everyone has to contribute to diminishing. The first step is to get informed. Our economy is