The economic and cultural divide between developed and developing countries has been apparent throughout history, so the existence of this ever growing “gap” is no secret to any global citizen. Although this gap has been evident for decades, we must ask ourselves how has this gap continued to grow as the world advances. How can one measure the size of this gap if it is not actually visible? By comparing the economic statues of multiple developed and developing countries along with their levels of gender equality that obviously contributes to the economic gap. These factors can be used to assess the gap that has grown and continues to grow between the developed and developing worlds. A developed country is defined as a country that is more…
process of development. Poverty, to be specific, is not just about low income it’s about susceptibility, institutions that aren’t accountable, powerless institutions and exposure to violence. (World Bank, 2006) There is an increased emphasis given to democracy and participation in social development, which is often hindered by the existence of inequalities in a nation. Since social…
The article explores the contrasting aspects when it comes to the “wage gap” between men and women. Through the use of employer-employee data and surveys, the author explains why the gender wage gap can be justified in some cases. There are, according to the author, differences in productivity factors that can have an impact on women’s wages. For example, female employees tend to be seen (or are) less productive, but more adaptable into a work space or condition. It is also stated that female…
The issue of poverty in African has created a global concern, with many countries in African being a victim of poverty. The state of poverty in most countries has been viewed as a multi-dimension that has been linked to various factors such as income level, consumption rate, socio-economic position, and political indicators. Its effect has been attributed to instability within a country and increase of mortality rate. In a close look at Ethiopia, a lot can be concluded from the issue of poverty.…
Income inequality is the uneven distribution of assets among a population. In India, income inequality has been rapidly increasing over the pass years. Due to the expeditious growth of population, the discipline of the society begins to collapse, resulting in a rise of many inequalities in health, education and gender. In India, the top 1% holds nearly half of the country’s wealth and the rest of India owns only the remaining quarter. This unequal distribution of wealth is caused by the failure…
Introduction In many developing countries, such as India, China, Thailand, and Vietnam, notable economic growth has been achieved over the last few decades. However, the growth is accompanied by huge increases in inequality, which is a threat to further economic growth and can also lead to serious social problems. As a result, many developing countries are seeking ways to fight against economic inequality —— progressive taxation is imposed on the rich and financial aid is provided to the poor,…
Economic Inequality Economic inequality is a growing issue on a global scale with many believing that it is part of the world we live in and there is nothing that can be done to solve it. In fact, there are many different contributors to economic inequality that can be solved individually to reduce its overall impact. Economic inequality is the difference between the rich and poor and has been an issue for quite some time. An economic balance must be found as a large wealth gap can hinder long…
The greater the disparity for those in an impoverished nation is not the income of the poorest but the difference of the income gap between the poor and the rich. Adam Smith reflects on the gap in his quote: “No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.” Due to Saudi Arabia’s vast oil wealth, there is a large amount of the population who lives well and fruitful, but more than 20 percent of the population lives in crippling…
High and sustainable economic growth is the main condition for the sustainability of economic development and increase prosperity. As the population increases each year, the consumption is also increasing. Further more, demand, supply and population growth also requires employment growth as a new source of income, because if not so then economic growth will lead to poverty. Many economic literatures review the correlation between income inequality and economic growth and the results show that…
Since the 1970s, the official poverty measure (OPM) has remained relatively constant at around 15 percent. In this same time frame, real GDP growth per person, which is used as a measure of the standard of living, has nearly double. This growth should suggest a decrease in the poverty rates over the decades, but since they have remained relatively constant suggests that there are other factors that have an ascendant stress on the poverty rate. Factors that can put pressure on the poverty rate…