Income inequality metrics

Additionally, criticisms from news reporters and political parties, have discouraged the president by way of ridicule and calling the attempt to change the dispersal of wealth “Class Warfare”. The President himself has backed away from his efforts for income equality and wants to find a way to broach the subject without it being considered or deemed “Class Warfare” (Zelizer, 2012). Well what the hell else do you call it? That is exactly what it is! As it should be. If wealth isn't…

responsibility for the growing inequality in Australia. This essay will describe these mechanisms and explain how they are related in the context of Australia since the 1970s. Stilwell and Jordan (2007) stress the importance of socio-economic mechanism and its ability to reinforce inequality. This means that the results of injustice often become the cause of injustice as well, forming a vicious cycle of inequality which hinders equality of opportunity. In Australia, high income earners tend…

Post-industrial nations, such as the United States, have slowly moved in the direction of a plutocracy, a government controlled by the wealthy. The financial disparity between the majority of the population and the top one percent has grown exponentially since the 1980’s. The top 1 percent control over 40 percent of the wealth in the United States, the top 0.1 percent control 20 percent, and the top 0.01 percent control 10 percent. This is compared to the bottom 80 percent which controls at most…

Inequality in income can depend on what particular political system and what economic system a country uses. The three kinds of economies are the traditional economy, the command economy, and the market economy. Traditional economies are thought of as “old-fashioned” and “under-developed” resulting in little growth economically and therefore there are not many areas with this kind of economy that still exist. This type of economy is usually situated in rural areas. Farming and agriculture are…

States of America (USA); Australia; the United Kingdom (UK); and Sweden. The seven criteria explored were: Gross Domestic Product per capita (GDP); Inflation; Unemployment Rate; Average Life Expectancy; Literacy Levels; Crime Index; and Household Net Income (after taxes). Using the data collected, this paper will provide a discussion as to which of the 5 countries have the highest standard of living and why this determination was concluded. Standard of living is defined as, “The level of…

transfer payments (earned income credits, Medicaid, unemployment benefits, SNAP, TANF and SSI). This leads to the creation of wedges between earning and income with the more affluent (being taxed the most) not getting everything they have earned and the less affluent (transfer recipients) not earning everything they receive resulting in less income to redistribute. The result of which is described as what Arthur Okun refers to as the “leaky bucket” of redistribution – as more income is…

Today people across the world are engaged in the pronounced discussion about inequality that undoubtable continue to create divisions among the human race. Notably, as time passes by, the economic gaps continue to widen, characterized by those that are continuously becoming prosperous and powerful, while others are held by a stagnated income and the ever raising economic pressure, whereas another lot is left behind in as they languish in the ever growing poverty, dependency, and hopelessness.…

Adam Smith said “No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.” Smith is saying that not every society is fair. There will be some people that are happy and some people that do not have as much. The gap between the rich and the poor is too large. If the rich were to give a little back or invest their money in businesses or other services it could help close that gap. The rich occupy a large amount of money and resources in…

poorest three and a half billion individuals of the world. Although I want to illustrate income inequality particularly in the United States, this statistic is quite alarming considering the global economic impact our country has on the world. The implied benefits of reducing income inequality in the United States is critical to the overall economic growth of our country. If the United States could reduce its inequality to the level of Canada, U.S. GDP would rise about 0.9 percentage points per…

The prevalent issues of my home life have been told. Going from middle class to minority. Being scammed, and my family almost being ripped apart from the grasps of corruption. The discord of my home life are important to me, but on the other hand it is nothing compared to the Syrian Refugee Crisis, nor the Albuquerque Public School scandal, or even Bullying. Here in America, so many take what is available for granted. Our problems, whether it’s not having a girlfriend, not being lanky, not…