1. Introduction On December 5th, 2014, an incident in Korea had heated public opinion. Since this incident was reported, many people have been shocked, and later became known not only in Korea but also abroad. It is Korean Air Return case, (aka. peanut return case). To summarize, former Vice President Cho, Hyun-ah, the eldest daughter of Korean Air Chairman Cho Yang-ho, was having trouble with the service of the crew who brought Macadamia to the first class on Korean Air from New York on December 5, 2014. Not only this, it caused the controversy both inside and outside of Korea by making the plane returned, which was on the runway for take-off, and made the chief crew down from the plane. As a result of this action, 250 passengers who boarded the same plane suffered a delay of about 20 minutes from departure. The case, which seemed to be quietly silenced, was released on December 8th in the media, triggering a controversy over peanuts return and the chaebols (a South Korean conglomerate, usually owned by a single family, based on authoritarian management and centralized decision making-dictionary.com) overusing power. In particular, there has been a great deal of …show more content…
In 2010, Korea's income inequality is among the lowest in all OECD countries. The income gap between the upper 10th and lowest quintiles of urban worker households is 10.67 times, and the relative poverty rate of urban workers' households (based on 50% of middle income) increased to 14.3 in 2008. In terms of the inequality of land ownership, which is a representative asset, about 1% of the total population owns more than half of the total land, excluding state-owned land. Also, about 1% of Seoul's population owns two-thirds of Seoul's total area. This concentration of land ownership affects to the increase of costs related to housing of 'homeless people', further deepening economic inequality (Kim,
Two exceptions to the class avoidance phenomenon: discussion about the middle class as acceptable and presenting glimpses of the poor and wealthy that conform to common stereotypes. Americans are misinformed to believe the following myths: class distinctions are non-existent, middle-class is the norm, everyone is getting richer, and the chances of success are equal for everyone. The U.S. has the highest income gap between the wealthiest and poorest in the industrial world, which is approximately 12 to 1. In 2004, the affluent experienced a wage increase by 12%, whereas the 99% of average income makers saw an increase of 1%. The Making of the Ghetto: One of the biggest forms of equity is home ownership, and between 1933 and 1978, the Federal Housing Authority (FHA) supported millions of Americans by providing small down payments and reasonable payment plans, if they fell within their requirements.
3. What are the effects of this wealth inequality in the US and what causes it, as well as some possible solutions and their ramifications, will all be discussed and answered below. There has always been a wealth gap between the richest and poorest in society. However, in the past decade, the wealth gap between the richest and poorest citizens in the US has been growing rapidly. In the 70s and 80s, the wealth and income growth rate for both poor and rich people were similar, however, between the years 2009 and 2012 the top 1% income increased 31% while for the bottom 20%, their income actually dropped and for the vast majority of Americans, the average yearly income only increased by 0.4% [4].
Wealth inequality did not always exist in human life. In fact, “Human life have not only been changed, but revolutionized, within the past hundred years” (Carnegie 1). There used to be
More than 37 years ago, Rollin King and Herb Kelleher got together and decided to start a different kind of airline. They began with one simple notion: If you get your passengers to their destinations when they want to get there, on time, at the lowest possible fares, and make darn sure they have a good time doing it, people will fly your airline. And you know what? They were right. What began as a small Texas airline has grown to become one of the largest airlines in America. Today, Southwest Airlines flies over 104 million passengers a year to 64 great cities all across the country, and we do it more than 3,400 times a day.
The highest earning fifth of U.S. families earned 59.1% of all income, while the richest earned 88.9% of all wealth. A big gap between the rich and poor is often associated with low social mobility, which contradicts the American ideal of equal opportunity. Levels of income inequality are higher than they have been in almost a century, the top one percent has a share of the national income of over 20 percent (Wilhelm). There are a variety of factors that influence income inequality, a few of which will be discussed in this paper. Rising income inequality is caused by differences in life expectancy, rapidly increases in the incomes of the top 5 percent, social trends, and shifts in the global economy.
Income inequality not only harms us fiscally, but also affects our mental and physical wellbeing; therefore, it is important to identify the right ways to control wealth distribution among people.
Income inequality in the United States, as of 2007, has reached levels not seen since 1928. In 1928, the top one percent received nearly 24% of all income within the United States (Volscho & Kelly, 2012). This percentage fell to nearly nine percent in 1975, but has risen to 23.5% as of 2007 (Volscho & Kelly, 2012). Meanwhile, in 2007 (see
Compare and contrast the ways in which housing inequalities are discussed from the perspectives of social policy and criminology, and economics (TMA 02)
In the August 10, 2017, online edition of The Atlantic, Derek Thompson investigates the horrifying incident that recently occurred on United Airlines Flight 3411. A video recorded and posted online by a passenger exposed the risk of overbooked flights and the problems that can occur from such an event. The video showed Chicago police officers forcefully pulling an Asian man from his seat and dragging him out of the plane. The man, who was bleeding from his mouth, had refused to give up his seat as a result of the flight carrying too many passengers. This incident has not only raised awareness for the inappropriate treatment of passengers on certain airlines, it is also “a dramatic reminder of the profoundly unequal, and even morally scandalous,
Inequality is presents in many communities and there some consequences attach with it. One of the reasons for inequality is income. Stone (2012) states the consequences of inequality in communities, especially when talking about income of individuals that are part of the community, “income inequality seems also to increases racial prejudice and discrimination against women and ethnic minorities,” (p. 59). Low-income individuals are forced to accept what the services provided by the government, even if those individuals who do want them. Stone (2012) give an example of the lack of choices low income individuals, when talking about food, “very poor people live under constant threat of starvation or homelessness and don’t experience most of their
- Forty-six percent of all poor households actually own their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage, and a porch or patio.
For example in urban areas there are tall buildings that refer to skyscrapers, housing is hardly found. According to Puja Mondal’s article, he stated that in 1991 urban housings shortage was at 8.23 million as a result the number of homeless people increased. While in rural areas houses are more widely spread out from each other and not as tall. In suburb areas people tend to live in neighborhoods where they are equally spread out and have more space than urban areas do. Families get to have larger homes and also have the option to live in small apartments however not
There are few things that are impressive about Southwest Airlines first one is how they treat the employees. For Southwest Airlines employees are first and customers are second. If the employees are treated well that will bring in happy customers. Next is that Southwest is not only with their low prices but is able to create a competitive advantage by offering a fun and humorous experience when flying. Finally another impressive fact is when Herb Kelleher’s retire from CEO position yet remained a Southwest employee till July 2014. Even after the retirement he was still active with the Southwest Airlines that reflected his enthusiasm and dedication for the
Wealth inequality is the uneven distribution of resources in a given state or population, which can also be called the wealth gap. The sum of one’s total assets excluding the liabilities equates the person’s wealth also known as the net worth. Investments, residents, cash, real estates and everything owned by an individual are their assets.In reality, the United States is among the richest countries in the world, though a few people creating a major gap between the richest, the middle class and the poor control most of its wealth. For more than a quarter of a century, only the rich American families have shown an increase to their net worth.Thisis a worrying fact for the less fortunate in the country and calls for assessment (Baranoff, 2015).
Wealth disparity is the condition of fact being unequal, the difference between people regarding age, degree or rank. In Hong Kong, wealth disparity is caused by the enormous gap of poverty and wealth. The comparison of the two well reflects the lives of the well known developed city - Hong Kong. People living in poverty or the working poor suffer from the lack of nutritional needs, resources and the poor conditioned shelters. The elderlies spends $167 per month just to live in an 1.5 square meter cage. Their lack of money has already brought them into the fact that they are not able to afford for a better shelter and yet they still have to pay for others t...