The Haves And The Have-Nots Analysis

712 Words 3 Pages
Wealth, poverty, and social class have been displayed into all parts of the world today. Economist Branko Milanovic’s The Haves and the Have-Nots offers three types of inequalities— differences among individuals in a community, income between countries, and among all individuals of the world. The author talks about income and wealth inequality that exists in several different ways in our daily life through short vignettes and essays, with strong evidence from history and today, in order to reason his main point. I agree with the author that the differences in income and wealth is important and is vital to our lives.
Over the years, social classes have developed. Milanovic offers an historical evidence that the social classes are split into
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Differences in location reflects the differences in income and productivity. To analyze the most accurate income of individuals in different countries is through the $PPP, meaning “purchasing power parity dollars” (p.41). In the United States, the average income is $PPP 25,500. In contrast, China’s average income is $PPP 525. For the drastically difference in income, the people in poor countries are encouraged to move to rich countries. However, poor countries tend to grow faster than rich countries as they have access to technologies for a relatively low cost and have low wages for rich countries to invest in under globalization. People living rich countries are better off than people living in poor countries. There are some exceptions. For instance, there are some people in poorer countries that are richer than the poorest people in richer countries. However, an individual’s income is determined through birth, based on citizenship and the social class of parents. There are also exceptions, but it is …show more content…
As I have travelled to different parts of the world, I am able to understand the author’s main point in several ways. In Hong Kong, there are income differences as the cost of living is slightly lower than that of, America’s. Travelling to different countries displays the difference in inequality compared to in an individual’s country. The author points out that there is good and bad inequality. In terms of good, it encourages individuals to work harder. I definitely can relate to this situation as I know I need to maintain in the middle class. I do my best to study hard and earn a degree to get a better job. People work hard for themselves, but it also is beneficial to the

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