Balancing Economic Roles: A View on Wealth Distribution

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In liberalized economies, and because of democracy, all persons are entitled to equal rights and responsibilities despite many differences that exist among them. Rights to employment, equality regarding gender and some other aspects are all advocated for. In return, citizens of any given nation have obligations and duties which they have to satisfy in exchange so as to keep the system in balance. While responsibilities, tasks, and privileges can describe the association between government and their subjects, there is always a challenge of striking a balance and fairness between the poor and the rich in respect to playing these roles. When it comes to economic issues and the roles that people needs to play to their governments, controversial views have been aired as people try to suggest how the poor and the rich can all benefits from economic and other policies. Some people consider that the poor citizen should by favored during employment and their responsibilities be subsidized such in payment of tax. On the other hand, others feel that everyone, despite their financial status should be entitled to equal rights and responsibilities. Edmund Phelps is one of the logicians who …show more content…

The argument raised by this policy is each can better their life through their daily activities and choices they make especially in the liberal market, where you are allowed to choose what you want or do not want. People can decide what type of jobs they want to do or the business they think they are capable of doing. Peoples ' competence is what will keep them on the market or outdo them. Because Phelps believes that the poor will be disadvantaged on this ground, he suggests the model that favors the poor in the employment field. If this has to be adopted, trade cannot make everyone better off as some people will be restricted from doing what they can

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