Essay about The Inequality Of Income Inequality

Essay about The Inequality Of Income Inequality

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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. The exact reasons for the drastic growth in income inequality are still not well understood. However, there are some factors that are identified that might have contributed to this drastic rise in the inequality of earnings in the US. These factors supposedly affect the rise directly or indirectly. These factors are the decrease in a number of labor unions functioning in the US; the increase in globalization; the rapid changes in technology that is biased towards skills, and increased number of unskilled or semi-skilled immigrants. These causes and effects of risings income inequality are discussed below.
The number labor unions have reduced because the America 's workforce has primarily changed from manufacturing jobs that require low skills, which are primarily consistent and easy to organize, to jobs that require highly skilled labor, which require the college education and is mostly individualized (Trilling). It is the low skilled laborers that are usually members of labor unions. However, their numbers are declining that causes a decline in the number of labor unions. Since labor unions are inactive, the demand for higher wages for low-skilled workers is not common resulti...


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...etter social living standards and materials; and are not able to access good medical care, thereby making them have a shorter lifespan (Hargreaves). On the other hand, the rich can access these services easily. Therefore, they have longer lifespans. This significant difference in life expectancy is all due to the increasing income inequality (Hargreaves).
This paper has demonstrated that incomes of the poor are falling due to while those of the rich are increasing due to technology, immigration, globalization, and reduced labor actions. These are the reasons for the rise in income inequality. The paper has also shown that the inequality in income has social effects such as a fall in the life expectancy of the poor. Therefore, it is necessary that the government develops measures to curb the rising inequality incomes for a proper socioeconomic development of the US.

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