Income Inequality

1405 Words 6 Pages
Underlying Causes of Income Inequality According to a report from the charity Oxfam, sixty-two people worldwide hold as much wealth as half of the global population (Stone). The cause of the wealth discrepancy is widely speculated upon and just as widely disputed. Many claim the social gap as the primary cause of this overwhelming income inequality. This response is an oversimplification of the true cause of current disparities. More specifically, the social gap created by preemptive influence and physical traits causes income disproportions, which in turn cause income inequality. In “Confronting Inequality,” Paul Krugman proclaims that income inequality influences many, as the high-income minority destabilizes the economy, especially for …show more content…
King reports that many people now work towards the middle-class lifestyle as opposed to the celebrity-rich lifestyle. He then includes naysayers of his view, citing many who claim inequality stands in the way of the American Dream. King concedes that income inequality is an issue in America. However, he believes that employing Krugman’s policies, such as raising minimum wage, would further disrupt the market’s equilibrium. King promotes the belief that income inequality does not stifle individuals of any class from achieving the American Dream. King continues his arguments by disagreeing with Bob Herbert who asserts that taxing the upper class will close the income gap. King then agrees with Dana Golden, who states that keeping the rich spending their own money and wealthy will encourage economic growth on all levels. Cal Thomas asserts that the media perpetuates the ability to attain the American Dream, which King believes. King also maintains that the American Dream has withstood the tumultuous past including recessions and fiscal turmoil. King concludes with the argument that governmental allocation of income is detrimental to the American economy and the attainment of the American …show more content…
An individual begins to gain views from his or her guardians as early as birth, as he or she grows up learning how to talk, how to walk, and how to judge people. Parental figures have been known as one of the greatest influences on behavior. Nevertheless, not all agree with the widely accepted view of prominent parental influence. According to Judith Harris, parents have a short-term effect on their children (qtd. in Span). However, Jerome Kagan disagrees with Span, saying that “to claim that they’re influence is minimal, that’s severely wrong” (qtd. in Span). As a child grows, different factors influence him or her. Peers, teachers, and coaches introduce new ideas and beliefs to the child, changing the child’s opinion. The influence from these factors is a large reason for income inequality. A child with a widely encompassing guidance would have a less biased perspective than a child with a unilateral guidance. For example, a child who was taught to believe that poor people are lazy would be less inclined to be sympathetic to the poor than a child who was taught that much of the economically disadvantaged population was in such a state due to economic imbalance would be. Those learned stereotypes not only affect the way children view others, but also how they view themselves. If they were taught from an early age, and re-taught as they developed, that poor equates to lazy and worthless, then they are more

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