Tell me where you were born and I'll tell you your future. This is the harsh reality facing the vast majority of the world's population, particularly in developing countries where the concentration of wealth is striking!
Take Bangladesh (8th most populous country on earth) for example, with a population half that of the United States but a GDP(Gross Domestic Product) that is 141 times smaller and that gap is only getting bigger. This is not the only problem however, even scarier is the growing disparity of income within countries themselves. Brazil is perhaps a model example of such disparity; being home to some of the poorest as well as the richest people in the world. It's no secret either, the segregation between the rich and the poor can be seen by briefly taking a look at any country's education system, political system and even architecture. However shocking the differences between nations may be, take a tour of any one of them and there will be one common denominator: inequality.
Although it may be true that some inequality between the rich and poor can be beneficial to the economy, too much of a gap is having grave repercussions. For some children it may prove to be beneficial but it nevertheless has led to a future where the fate of one's parents ultimately determine's one's future. Even more frightening than this intergenerational inequality is the correlation between the parents' incomes and where they live. There is both good and bad news in regards to this fact. The good news is that in the passed few years there has not been a huge change in this disparity of income. However, the bad news is that the only reason for this stability is that we,as citizens of earth, can't really get any worse, in fact we have actuall...
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...distribute this wealth evenly across the nation so that way policies can cater to the greater good of the majority of the people. Inequality between nations is also pregnant with danger for the future. No child should be born with no real hopes and dreams for their future but this is proving to be the case. There will always be exceptions but countless countries leave children with very little option as to what their futures will look like, giving no way out and creating a vicious cycle of poverty. It is imperative that people begin to examine the causes and effects of these problems on a global scale before history repeats itself once more and their repercussions make them global issues. In conclusion, as long as the unequal distribution of wealth remains to be a problem, the stark divide between the rich and poor will result in nothing but affliction for all of us.
"Wealth Inequality in the United States." Wikipedia. Wikimedia Foundation, 18 Apr. 2014. Web. 19 Apr. 2014.
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
In the book Nickel and Dimed: On (Not) Getting By in America by Barbara Ehrenreich, Ehrenreich leaves a comfortable life to go undercover to investigate how the working poor survive on such low wages, she looks into income inequality The income disparity between the rich and the poor and even the rich and the middle class has grown significantly over the last century. Every decade, the gap has been increasing with
America in today's society is burdened with many economic and political problems that have begun to plague the nation. Controversial topics are constantly being debated from sunrise to sunset across the country with supporters and those who oppose each bearing various levels of financial and political misfortune. With the numerous economic and political problems that affect the nation, the argument over the issue of income inequality is one of the most notable. Creating a political civil war, proponents from both sides have brought the issue into national view and debate has grown substantially within recent years.
The differences in outcomes between more and less equal societies are huge and undeniable. Most of these problems are between countries
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
Wealth inequality is a real issue that needs to be fixed. The imbalanced growth of the upper class compared to the middle class is a danger to American society as a whole. The rich becoming richer while the middle class remains the same leads to a power imbalance, with the rich using their money to run the country the way they see fit while the middle class speaks to ears that do not listen. The issue of wealth inequality needs to be fixed by raising taxes on the rich.
Economic inequality is ingrained in our society. Because of this fact, many would argue that “that’s just how it is,” but in reality this is not how a community is suppose to function. As Michael Sandel writes in his book Justice, “As inequality deepens, rich and poor live increasingly separate lives.” Sandel makes an excellent point. As economic divisions, such as the ones present in the United States, worsen, the classes diverge on every level. Wealthy people attend different schools, purchase luxury cars, and live in gated communities. Meanwhile, the poor live in squalor, use public transportation, and attend failing schools. Aside from the lack of a quality education making it harder to escape poverty, the poor are from birth at a disadvantage to those on the other side of the economic scale. The United States is not a land of guaranteed equality of result, that is...
Recently, studies have shown that income inequality has many connections that have caused the gap in the United States. According to the research I found, income inequality is connected to corruption, trade, wages of workers, and education. The world income inequality had declined since the twentieth century according to the studies found (Clark). Corruption falls increasing on low income individuals more than higher income individuals. Additionally, the trade theory suggests that the free trade might have level up the income inequality higher within countries by the different patterns of wages and demand for workers who are skilled and unskilled (Silva and Leichenko). Moreover, the education of wealthier people has it easier because the learning efforts of education are unbalanced. Besides, income inequality in the United States is hurting our economy due to the all the issues of corruption, trade, wages, and education. Suggested by Robert H. Frank article called “Income Inequality: Too Big to Ignore,” the income inequality is bad for our economy (Frank).
Over the last several years in the United States it has become more and more evident that the gap between the rich and the poor is growing. Not only is the gap growing, but the government is doing very little to stop it. Slowly the poor are being shifted away from the center of wealth and being replaced by the already wealthy. It's a shame how a few people with large cheque books can run the most powerful country in the world, and yet the general public are being redirected to think this problem is a minimal and insignificant issue. The truth is that economic and social inequalities have been growing in the United States at an alarming pace. The inequalities exist because the wealthy want to have more, and the power to obtain more; To do so people must give up their wealth and thus cause the economic gap.
In chapter of the book, "Our Kids", Robert Putnam shine spot light on wide income gap, have brought profound and distribution of income that affect the advantage family, neighborhood and opportunity. The American needs equal opportunities to have a better life but opportunity is not given to everyone in the society and segregation is now a problem.
The unequal distribution of wealth is seen as a negative and ongoing problem and debate within American politics and society. There is a great deal of evidence to back up why wealth distribution is damaging the American ideals of life. It also carries inevitable and undetermined consequences for our nation. How resources are distributed within a country depends on where the resources were found. For example, numerous people will move to an area that is rich with resources in order in ensure job security. Just because a country is fruitful in a resource does not mean that that particular country is wealthy. In fact, the laborers are paid very minimal...
Income inequality is a big problem in the United States because the top, wealthiest American saw huge increases in their incomes, which the rest had their incomes go down. Bottom people do not have the same amount of money and the opportunity to move up the social ladder as the rich people do. In order to reduce income inequality, the government needs to tax the rich people more, and give poor people more money and more social services - education, food subsidies, health care.
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).