Why Is There Inequality? Essay

Why Is There Inequality? Essay

Length: 1311 words (3.7 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

• Why is there inequality?
Free market economies foster discipline by rewarding the successful and penalizing failures. They inevitably create an economic hierarchy by producing a select few of wealthy individuals, a large middle class, and an even larger lower class. Individuals are free to move between classes based on their ability to satiate the desires of others. Only by freezing individual incomes at some moment in time are we able to consider class distinctions. Having established these clear-cut classes, one is then able to see that some have more relative to others. That is, they are unequal. Individuals differ in many ways, including energy, ambition, and ingenuity. As a result, in a market-oriented economy some people will be better than others at satisfying consumers and will tend to make more money. That is, assuming that all individuals are equal before the law, all are free to compete for any and all social positions as they wish.
• How Incentives Play into Inequality
It’s due to incentives to produce the best products. To be rich or earn an income, he or she must produce and sell something that people judge to be worth buying. “The important economic effect of income inequality pertains to the ability and incentive to produce… Income inequality provides a greater ability and incentive to produce wealth.” Trade is voluntary so it must be that people are willing to purchase from a supplier who has outperformed their competitors.
• Rich People’s Contributions: Bill Gates and Sam Walton
As Bill Gates grows richer, other individuals benefit because they are able to obtain better computer software. In a society where men interact based on voluntary trade, a person grows rich by producing goods and getting people to pu...


... middle of paper ...


...r that former workers would desecrate it. The reverence or at least quiet sympathy that popular culture extends to the very rich. If it were the case that the rich had grown richer at the expense of the poor, thereby making them poorer, then we would have reason to be concerned. That isn’t the case, because they have earned their wealth. The needs of the poor have nothing to do with the earnings of the rich. People like Bill Gates and Warren Buffett can make as much money as they want, but, so long as they earned their money honestly, what do their earnings have to do with the quality of life for the rest of us? He was ' 'a detail-oriented owner, ' ' a ' 'workaholic who painstakingly consolidated dying railroads, transformed them into highly profitable megalines. ' ' Indeed, ' 'the case for Gould as an exemplary, successful, long-term C.E.O. is there to be made”.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Social Inequality And Gender Inequality Essay

- It is safe to say that one must experience some sort of inequality at least once in their lifetime. Inequality is arguably the biggest threat to people in society today and almost any human being can acknowledge the fact that the increase of inequality is an pressing issue. While there are discernible inequality issues such as Economic inequality, Healthcare inequality, Income inequality, Educational inequality and many more, Social inequality and Gender inequality are matters that surround us everyday, yet are not being treated enough of as an issue where change needs to be brought about....   [tags: Gender, Stereotype, Economic inequality]

Better Essays
1779 words (5.1 pages)

Essay about The Inequality Of Income Inequality

- 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]

Better Essays
1027 words (2.9 pages)

Essay about The Inequality Of Income Inequality

- 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]

Better Essays
1808 words (5.2 pages)

Essay about The Inequality Of Income Inequality

- 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]

Better Essays
833 words (2.4 pages)

Inequality And Social Inequality Essay

- Inequality of Opportunity Inequality today is one of the most significant problems that America faces. According to Inequality.org in 2015 Household income of the top 0.1% of the population gained $6,747,439 while bottom 90% of the population got $34,074 (Inequality.org). The gap between incomes only continues to grow every year, which requires a change in social and economic policies of the country. However, it should be remembered that economic indicators can tell about working conditions, living conditions, nutrition, education of representatives of various groups of the population, but they can not show a picture of the realizability and opportunities to be successful in life for differe...   [tags: Inequality, Household income in the United States]

Better Essays
847 words (2.4 pages)

Why Is There Inequality? Essay

- • Why is there inequality. Free market economies foster discipline by rewarding the successful and penalizing failures. They inevitably create an economic hierarchy by producing a select few of wealthy individuals, a large middle class, and an even larger lower class. Individuals are free to move between classes based on their ability to satiate the desires of others. Only by freezing individual incomes at some moment in time are we able to consider class distinctions. Having established these clear-cut classes, one is then able to see that some have more relative to others....   [tags: Poverty, Wealth, Economic inequality]

Better Essays
1311 words (3.7 pages)

Income Inequality in the United States Essay

- 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]

Better Essays
3100 words (8.9 pages)

Essay On Inequality

- Cameron Ocasio Soc 1 Eric Lichten 12/5/17 Inequality What is inequality. “Social inequality is the existence of unequal opportunities and rewards for different social positions or statuses within a group or society.” There is so much inequality in the world and so many different types of inequalities. Ignoring the fact that there is inequality in the world can be very dangerous. I feel like most people feel that they are being cheated and that there is some form of inequality going on. However, some people are either ignorant or uneducated and don’t understand how big the gap is between different groups in society....   [tags: Sociology, Economic inequality, Social class]

Better Essays
974 words (2.8 pages)

Gender Inequality Essay

- It is only recently that sociology has begun to explore the topic of gender. Before this, inequalities within society were based primarily on factors such as social class and status. This paper will discuss gender itself: what makes us who we are and how we are represented. It will also explore discrimination towards women throughout history, focusing mainly on women and the right to vote, inequalities between males and females in the work place and how gender is represented in the media. The term ‘gender’ was coined by John Money in 1955: “Gender is used to signify all those things that a person says or does to disclose himself/herself as having the status of a boy or man, girl or woman, re...   [tags: Sexual Inequality]

Better Essays
1840 words (5.3 pages)

A Discourse on Inequality Essay

- A Discourse on Inequality In Rousseau’s book “A Discourse On Inequality”, he looks into the question of where the general inequality amongst men came from. Inequality exists economically, structurally, amongst different generations, genders, races, and in almost all other areas of society. However, Rousseau considers that there are really two categories of inequality. The first is called Natural/Physical, it occurs as an affect of nature. It includes inequalities of age,, health, bodily strength, and the qualities of the mind and soul....   [tags: Jean Jacques Rousseau Inequality Essays]

Better Essays
1445 words (4.1 pages)