Inequality

recession.” (https://www.census.gov/library/publications/2016/demo/p60-256.html) There are many causes of income inequality. Overall, the market system is tolerant of a high degree of income inequality because it rewards individuals based on the contributions that they make, or the resources that they own, in producing society’s output. Some of the aspects that contribute to inequality are ability, education and training, discrimination, preferences, unequal distribution of wealth, market power,…

Our society runs rampant with all kinds of inequality. Racism, sexism, and xenophobia are just a few of the problems that plague our world. These problems all have the potential to hurt people socially and emotionally. However, there’s another type of inequality whose impacts go beyond social and emotional harms. Income inequality hurts people psychologically and economically, and its implications span a global scale. Andrew Carnegie writes in “The Gospel of Wealth,” “The problem of our age is…

The article “Confronting Inequality,” written by Paul Krugman, a professor at Princeton University, emphasizes that the middle class suffers from social inequality and economic inequality. Krugman suggests making a stronger safety net so the gap between the poor and rich can be limited to an extent. Krugman uses this theory to highlight the fact that the middle class needs to be stronger and the only way to achieve that is to have a strong safety net. Income inequality is another point Krugman…

Over the last decade, the Digital Divide amongst low income homes has grown, this phenomenon for many years. (Schradie, 2011). The divide inequality is the result of difference between citizens that make use of these types of internet services and tools and those citizens who do not have the resources to do so (DiMaggio and Hargittai, 2001) Though income, inequality, internet access and all barriers toward the internet, the relevance, usability, and price/cost considerations are the main factors…

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 year, a…

On Behalf of Inequality and the Top 1 Percent For the past few decades, the unequal distribution of income has gradually positioned itself as one of the focal themes of academic research and of national debates in the United States. While the chances of it being thoroughly discussed on the news remain relatively slim due to Donald Trump 's latest groping scandal and Hillary Clinton 's missing emails, the topic inevitably holds the interest of many other people, especially economists, leading…

Skylar discussed several statistical numbers throughout her article that explains the growing income inequality of individuals, particularly the wealth gap between the lower, middle, and upper class. For example, the top 1 percent of families has roughly the same amount of wealth as the bottom 95 percent. In terms of the direct economic relation between the average worker and the average CEO, it’s even worse. CEO’s on average because significantly more than the average worker as corporate…

Inequality in income distribution is a visible trend in countries worldwide. Many variables factor into what causes the disproportion such as countries’ taxes and minimum wages. The state of income distribution in the United States of America has changed over time and is currently experiencing heightening inequality. Additionally, there are many debates between the conservatives and liberals about why this trend is happening and how it should be addressed. The conservatives feel as though it…

Personally I would rather live in a society with low inequality but not particularly a society in which no inequality exists. One of my main views is that if a society had no inequality then the pay for what a doctor earns would be the same as what a janitor would earn. I personally believe that some distinction in regards to the amount of effort, knowledge, training, etc. ought to be taken into account in regards to inequality. Some jobs require extensive knowledge, training, liability, risk,…

I certainly think that the inequality of income and wealth is a social problem and it needs to be addressed. In the Wealth Inequality in America video we watched, it was stated that “the top 1% of America has 40% of all the nation’s wealth”. When the top 1% of the richest people in America have 40% of the total wealth of the nation, that is a problem. This is way beyond the point of the rich and wealth just living a luxurious lifestyle when they have 40% of the total wealth of the nation. I…