On January 19, 2016, Julie Delahanty published an article called “Billionaires on the Bus: Income Inequality and the Future of Poverty”. Julie Delahanty is an executive director of Oxfam Canada. The article is based on the Oxfam Briefing Paper, titled “the Richest 62 people as An Economy for the 1%”. The article explains that inequality is an important crisis that needs to be addressed, as it promotes cohesion and growth in all facets of the population and economy.
Unfortunately, the article’s eye-catching title is a reality in Canada. The wealth gap between the rich and poor is continually increasing. The number of billionaires in the world is so small that they can fit in a single school bus. Sixty-two people now own as much wealth as half the world’s population. The article explained the sad reality of inequality in the United States. It sheds light that the wealth of the poorest half of the world’s population has fallen by a trillion US dollars in just five years, while the wealth of the richest 62 people on the planet just kept growing. The article emphasizes that to truly tackle inequality and address extreme poverty several actions must be taken. These must include working with global leaders to end the era of tax havens, supporting women’s rights organizations and helping developing countries provide universal public services for all citizens, health and education in particular.
On March 26, 2014, Richard Goldman’s Article titled “Wealth Inequality in Canada: Time to mind the gap!” written on the blogging site of Rabble.ca confirms what was stated in Delahanty’s article mentioned above. Moreover, the rich are getting richer while the poor are simply getting poorer. Regardless of the fact that Goldman 's articl...
... middle of paper ...
...rticipate in society.
In “The Price of Inequality,” Stiglitz analyzes the costs of inequality and measures of inequality. Some of these costs include people withdrawing from community life which results in people feeling less likely to trust others, resulting in damages in the individual psyche. Lastly, reflection and social comparisons invoke psychological responses, as well as feelings of dominance and subordination, superiority and inferiority. Evidence exists that countries with a large wealth gap and income inequality are prone to citizens having mental illnesses such as depression or anxiety issues.
Given the reasons mentioned in Brun’s article, I think the basic income measure will help Quebec in reducing poverty and inequality while increasing many other benefits such as simplifying bureaucracy, stigmatization and providing an equal chance to all citizens.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- it can be interpreted that this specific type of inequality can be damaging to a nation’s economic growth and should be remedied to improve that nation’s health as well as the well-being of its citizens. What are the solutions to income inequality. The solutions to income inequality include both internal and external factors. Based on econometrics, the most important internal factors contributing to a decline in income inequality are policy changes, higher education spending, more tax revenue and robust GDP growth.... [tags: Economic inequality, Poverty]
1608 words (4.6 pages)
- Income inequality has been on the rise since the 1970s, however, it is a more pertinent problem now than it has been ever before. Despite evidence that cutting income inequality would improve the efficiency of the economy, the government shows a lack of understanding of that and continues to allow that inequality to increase. The disparity in income has become so pronounced that the top ten percent of Americans make more than nine times the income than the bottom 90 percent. This statistic has compounded over the years, and shows no signs of slowing down.... [tags: Poverty, Economic inequality]
1027 words (2.9 pages)
- Introduction People are expected to have a peaceful life; full of fun and learning from the experiences that they participate in throughout their life. This is an ideal expectation that every human-being would like to achieve, but the world today has many problem that block people from achieving what they expect to achieve. The problem that people facing is income inequality. It is a big problem that creates an impact on every person and every nation. According to the article “World Economic Trends in the Distribution of Income, 1965-1992”, it said “the majority of the world’s total income inequality is between-nation inequality, not within-nation inequality (Korzeniewicz & Moran, 1997)”.... [tags: Economic inequality, Poverty, Gini coefficient]
1808 words (5.2 pages)
- Income inequality can be said to be the level in which earnings are apportioned in an unequal manner among the citizen of a given country. For instance, in the US, this inequality in earnings, between affluent and ordinary citizens, has continued to grow significantly by a very wide gap. Income inequality has increased drastically since the 1970s in the United State after several years of stability. This means that the shares of the country’s income received by higher income households have increased significantly than those of the lower income households.... [tags: Poverty, Economic inequality, Employment, Wage]
833 words (2.4 pages)
- 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. History Income inequality in the United States has increased and decreased throughout history, but in the recent years, the widening gap has become a serious issue. Income inequality is usually measured by Gini coefficient. According to this method coefficient varies between 0 and 100; while 0 represents complete equality (income is distributed equally among all the population of the country), 100 represents complete inequality (only one person receives all the country’s income, while the rest of... [tags: Economic Inequality]
3100 words (8.9 pages)
- America prides itself on being one of the most successful democratically governed counties. The idea of the American dream is that all citizens have equal civil liberties and a responsive government. However the effectiveness of democracy is being threatened by increasing inequality in the United States. “The dominant view holds that economic development and modernization are the key to the continued growth of democracy” (Snider and Faris 2001; United Nations, 2011). In the last decade especially the American Society has had significant moments of increasing equality.... [tags: Economic Inequality]
3272 words (9.3 pages)
- Every American dreams of finding a job that pays well so that they may live comfortably and take care of their loved onesfor years to come. Most Americans hope to find some way to make a living that they enjoy, something that they view as productive. Unfortunately, many do not have this luxury. In our society, a good portion of the population is forced to hold the base of our country in place while hardly being redeemed for their time and effort, and thus the problem of income inequality. Numbers of these people live from paycheck to paycheck, barely getting by, not because they manage their money poorly, but because the value of their time at work is negligible (Chapter 2 Economic Inequalit... [tags: segregation, society, income]
1108 words (3.2 pages)
- Income equality is a growing problem and is causing significant problems. The income gap between the rich and poor has been increasing and just recently surpassed levels that our nation has not seen since 1928. There have been studies showing the correlations between inequality and both health and happiness. This reaction paper discusses three articles with different perspectives on income inequality: Income Inequality Is What 's Destroying America (Gilani), U.S. Income Inequality, on Rise for Decades, is Now Highest Since 1928 (Desilver), and How Inequality Hollows Out the Soul (Wilkinsin, Pickett).... [tags: United States, Poverty, Economic inequality]
1002 words (2.9 pages)
- Case 2: Income Inequality Christopher Hodges Curtis Griffie Berry Epley Campbell University BADM 742: Business Ethics July 7, 2015 “Income inequality refers to the extent to which income is distributed in an uneven manner among a population. In the United States income inequality is the gap between the rich and everyone else which has been growing markedly by every major statistical measure for approximately 30 years” (Aguiar 2013). Wealth inequality has a close relationship with income inequality due to the nature of not needing a sizeable income because of wealth that was handed down for generations.... [tags: Economic inequality, Poverty, Economic growth]
1785 words (5.1 pages)
- There are many problems that face Third World nations. Income inequality affects all nations in the world. It affects some countries more than others though. Income inequality is a major problem in the Third World. In the Third World, the top 1% of people earns 15 % of the income, and the top 5% earn 40% of the income. However the poorest 20% earn only 1% of the global income. This creates a world of haves and have nots. This affects many aspects of society in a county. In the Islamic Republic of Iran, income inequity is a serious issue.... [tags: Iran Poverty and Inequality]
3419 words (9.8 pages)