Wealth Inequality Essay

588 Words2 Pages
bulb-icon

Recommended: Essays on wealth inequality

VI. Annex
i) Global Gini Coefficients from the World Bank:
Table 1
Low Income Countries Gini coefficient High Income Countries Gini coefficient Latin American Countries Gini coefficient
China 1.6 Australia 1.7 Argentina 2.8
Egypt 1.3 Belgium 1 Bolivia 3.6
India 1.4 Canada 1.4 Brazil 5.6
Ivory Coast 1.6 France 2.1 Chile 4.4
Kenya 4.7 Germany 1.3 Costa Rica 2.5
Madagascar 2.2 Italy 1.4 Ecuador 4.9
Nigeria 2.4 Japan 1 El Salvador 3.5
Pakistan 1.2 New Zealand 1.8 Mexico 4.4
Sri Lanka 1.1 Spain 1 Panama 4.9
Tanzania 1.7 Sweden 1 Paraguay 5.7
Uganda 2 Switzerland 1.8 Peru 2.6
Vietnam 1.5 UK 1.9 Uruguay 2.2
Zimbabwe 4.6 US 1.6 Venezuela 2.7

Testing for inequality ii) The Lorenz Curve
Will first construct the Lorenz curve to measure wealth inequality and will do so in four simple steps.
Step 1 drawing the axis: Along the x-axis we have the cumulative percentage of households and along the y-axis the cumulative percentage of wealth. Each will range axis will span from 0 to 1.
Step 2 ordering the data: Ordering incomes lowest to highest we are able to compute what proportion of the we...

Show More
Related

  • Reaganomics and The Decline of The United States

    2061 Words  | 5 Pages

    Stone, Chad, Danilo Trisi, Arloc Sherman, and William Chen. "Center on Budget and Policy Priorities." A Guide to Statistics on Historical Trends in Income Inequality. Center on Budget and Policy Priorities, 6 Nov. 2013. Web. 03 Dec. 2013. .

    Read More

  • Lorenz Curve: A Bisexual Analysis

    221 Words  | 1 Pages

    The Lorenz curve is a graphical illustration used to show the level of equality or inequality in a given society. The Gini coefficient is a numerical measure of inequality based on the Lorenz curve. It can be shown in percentages or by a maximum figure of 1.

    Read More

  • Inequality In Education Essay

    3194 Words  | 7 Pages

    The inequality in Australian education can be attributed to a history of low expectations and discrimination placed on Indigenous people by the government and society. Aboriginal children were denied the right to education until the 1970s due to the discrimitory views of the government and society. The Indigenous population were the sub-standard race of humanity with little to no chance of succeeding in life and these attitudes affected the educational choices offered to them (Ray & Poonwassie, 1992). As the superior race, the Anglo-Celtic Australians, considered themselves both intellectually and socio-culturally more advanced than their inferior Aboriginal neighbours (Foley, 2013). As a consequence of these racially and culturally motivated preconceptions, children of Aboriginal descent were considered unskilled outside of their own and were deemed incapable of excelling in ‘civilised’ white society (Foley, 2013). As a result, the Australian Government, in an effort to civilise and nurture politeness within the Aboriginal people, constructed “structured” (p 139) education training institutions in 1814. However, these problems only provided sufficient schooling for menial work: Aboriginal male children were prepared for agricultural employment, while girls were trained for domesticated services (Foley, 2013). Thus, as a direct consequence of low expectation for life success, Aboriginal children were offered minimal schooling ‘consistent with the perception about the limitations inherent in their race and their expected station in life at the lowest rung of white society’ (Beresford & Partington, 2003, p43). According to Foley (2013) this combination of low expectations and poor academic grounding meant that Indigenous children we...

    Read More

  • Income Inequality in the United States

    795 Words  | 2 Pages

    The top 10 percent, and even more so the top 1% , are going through increases in income expon...

    Read More

  • Inequality in America

    562 Words  | 2 Pages

    In the United States there are four social classes : the upper class, the middle class, the working class, and the lower class. Of these four classes the most inequality exists between the upper class and the lower class. This inequality can be seen in the incomes that the two classes earn. During the period 1979 through the present , the growth in income has disproportionately grown.The bottom sixty percent of the US population actually saw their real income decrease in 1990 dollars. The next 20% saw medium gains. The top twenty percent saw their income increase 18%. The wealthiest one percent saw their incomes rise drastically over 80%. As reported in the 1997 Center on Budget's analysis , the wealthiest one percent of Americans ( 2.6 million people) received as much after-tax income in 1994 as the bottom 35 percent of the population combined (88 million people). But in 1977 the bottom 35 percent had about twice as much after tax income as the top one percent. These statistics further show the disproportional income growth among the social classes. The gr...

    Read More

  • Income Inequality in the United States

    3100 Words  | 7 Pages

    Between 2009 and 2012, income gains by the top one percent increased by over 30 pe...

    Read More

  • Wealth Inequality In America Essay

    1109 Words  | 3 Pages

    Why are so a large number of people that beg for money, sitting on the streets, looking for food 's some sort? It is not day-to-day that we consider situations like this, but it is out there constantly without all of us realizing it. A number of states have poverty 's more issues than others, but it is sad to think about how plenty of people are actually considered to be in poverty. This is an inequality concerning me a lot, and is getting worse daily. Poverty in the United States relates to people whose annual household earnings are less than a poverty line set by the United States government. Poverty is common, resulted in by numerous different factors such as failing markets, structural problems, unfortunate mishaps, and poor individual

    Read More

  • Essay On Inequality In America

    1052 Words  | 3 Pages

    The historical context of inequality in the United States can be can be traced back to the American South and the times of the Civil War. The slave trade, Emancipation Proclamation and 13th Amendment largely contribute to the inequality presented of the African American population.

    Read More

  • Legalizing Drug Use

    2265 Words  | 5 Pages

    In my society where the political economy is capitalism, there will be a wide variety of incomes. Some citizens will have more smarts, other...

    Read More

  • Why The Rich Are Getting Richer And The Poor, Poorer Essay

    917 Words  | 2 Pages

    Economics of Reich “Why the Rich are getting Richer and the Poor, Poorer” written by Robert Reich, describes as the title says, why the rich are getting richer and the poor, poorer. In Reich’s essay, he delves into numerous reasons and gives examples of each. It makes one wonder if the world will continue on the path of complete economic separation between the rich and the poor. One very important factor Reich examines in his essay is that large corporations are always trying to find the edge, whether that is new technology or cheaper wages. One may ask, how does that affect me?

    Read More

  • Political Inequality Essay

    576 Words  | 2 Pages

    POSC 100 Paper #1 Joshua Han j0shh4nxd@gmail.com. Over the past few years, a number of occurrences have displayed the growing economic and political inequality of the United States. The currently dissipated Occupy Movement did draw the general public’s attention to the ridiculous strides made by the rich, whose incomes have skyrocketed within the past four decades. Those pertaining to the middle-income and poor have sadly had their incomes stagnate.

    Read More

  • Argumentative Essay On Wealth Inequality

    1189 Words  | 3 Pages

    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).

    Read More

  • Essay On Income Inequality

    1524 Words  | 4 Pages

    Income inequality continues to increase in today’s world, especially in the United States. Income inequality means the unequal distribution between individuals’ assets, wealth, or income. In the Twilight of the Elites, Christopher Hayes, a liberal journalist, states the inequality gap between the rich and the poor are increasing widening, and there need to have things done - tax the rich, provide better education - in order to shortening the inequality gap. America is a meritocratic country, which means that everybody has equal opportunity to be successful regardless of their class privileges or wealth. However, equality of opportunity does not equal equality of outcomes. People are having more opportunities to find a better job, but their incomes are a lot less compared to the top ten percent rich people. In this way, the poor people will never climb up the ladder to high status and become millionaires. Therefore, the government needs to increase all the tax rates on rich people in order to reduce income inequality.

    Read More

  • How Wealth Affects Education

    1498 Words  | 3 Pages

    Stewart, Charles T., Jr. "Inequality of Wealth and Income in a Technologically Advanced Society." The Journal of Social, Political, and Economic Studies 27.4 (2002): 495-512. Print.

    Read More

  • Disparity Of Wealth Between The Rich And The Poor Essay

    1078 Words  | 3 Pages

    In American society, there is a large disparity of wealth between the rich and the poor. This wealth disparity has far reaching effects into the areas of politics, education, culture, and more. By using their wealth to dominate politics, education, and culture, the rich perpetuate the exclusion of the poor into the substandard position of poverty.

    Read More

More about Wealth Inequality Essay

Open Document