Upside Of Income Inequality By Gary Becker And Kevin Murphy

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In the essay, “Upside of Income Inequality” Gary Becker and Kevin Murphy explains how education is directly related to the economic income gap. The authors suggest that the gap is due to the increase in return of human capital that education brings. They think the economic crisis we are in, is not to be blamed on the gap but on the policy makers that do not help the people who have not gotten a higher education. In this essay the authors, Becker and Murphy say that education is the only way to advance in a society that is in high demand of skilled workers. He also tells us that for all people especially minorities and women that the outcome of education is more beneficial than any other investment in life. They also give graphs to logically …show more content…
Becker has a Nobel laureate in economics while Kevin was the recipient of a 2005 MacArthur genius fellowship. They say they took into consideration the amount of money college is and how costly it is to go to college but they say it is worth the amount because the return on a college education is greater than anything else. “When calculating the returns to education, we look at the costs of education s well.” (1106) They also state that university tuition has doubled since 1980 but they think it still is not enough to not consider going to college. They do not completely cast aside the views of someone who does not go to college, however they do strongly advocate against not going and the viewpoints of someone without a degree. overall they do not support their initial credibility, but they do not cast out all …show more content…
The statistic that “American’s with a college degree earned about thirty percent more than an American who stopped education at high school.” This statistic helps to rid small thoughts that a degree would not be worth investing in, and numbers tell what is really happening, as long as they are used in a truthful manner. Becker and Kevin do use their statistics in a moral way, to further prove that what they think is right. However, there are some claims that have holes in them such as the claim that it is more rewarding for minorities and women to go to school. This is because they do not support their claim with evidence of what the starting income is. Yes, women are more likely to benefit from a percentage standpoint, but they start 30 percent below the average “white

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