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Modern economics have widened the gap between rich and poor in society. This gap can be illustrated by the fact that the three wealthiest individuals in the world have assets that exceed those of the poorest ten percent of the world’s population.…
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This question goes through mostly all the people’s mind in the United States now. Paul Krugman, in his article “Confronting Inequality”, explains why that differences are a problem. America's middle class is overreaching themselves in an effort to give their kids more opportunities. Many middle class are buying homes that they can't afford, so that their children will be attending a good school so that their children can have more opportunities, but on the other hand the rich society are creating their own world away from the middle class and of course That shows the growing gap between the wealthy and the poor which leads to the growing difference in social equality. In this article the author used lots of comparison methods to show the difference between the poor and the wealthy society. He also used some facts and diagrams to convince his audience with his case (Krugman…
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Raw materials and natural resources were being used to create trade and commerce in the new colonies. The colonies traded things such as fish, ships, timber products, corn, wheat, livestock, tobacco, sugar, rice, and much more. Specialized trades might have chosen to work certain jobs based on what was being traded in their area. For example in the middle colonies where there were things such as livestock and corn those who lived there may have become farmers.…
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In today’s capitalist economy, where economic transactions and business in general is centered on self-interest, there is a natural tendency for some people to make more than others. That is the basis for the “American Dream,” where people, if they worked hard, could make money proportional to their effort. However, what happens when this natural occurrence grows disproportional in its allocation of wealth within a society? The resulting issue becomes income inequality. Where a small portion of the population, own the majority of the wealth and the majority of the population own only a fraction of what the rich own. This prominent issue has always been the subject of social tension from even before the French Revolution and spawns numerous other social issues in a society. In the more recent Occupy Movement, beginning in 2011, protesters used income inequality as a motive. Moreover, they were justified in doing so. In a 2010 statistic, it was revealed that the top 1% of America, own 35% of the wealth while the lower 80%, over the majority of the population, only have 11% of the nation’s wealth distributed between them. Financially the situation is even worse where the bottom 80% own only 5% of the financial wealth and the top 1% own 42% of the Nation’s financial wealth. Not to say the top 1% didn’t work hard to get to where they are, but according to the ideals of the “American Dream,” the top 1% should have worked 243 times harder than the average, not the poorest, worker in America. This extreme of disproportional wealth distribution is not only a source of social conflict, but a catalyst for various other problems that exist.…
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With unreliable data and few resources to gain evidence of a faulty system; American politicians sometimes turn a blind eye or demean the importance of the issue. Obviously unemployment and economic deterioration are serious problems, but they are problems that would be further eased by addressing the current, historic, and growing imbalance in income inequality. The avoidance of such a current dilemma, such as the enormous gap of income, is an issue itself. For the problem to start resolving itself, we must bring the issue into the spotlight to be addressed by the officials who run our country. Income inequality, by contrast, is getting worse over time. Doesn’t it make more sense to focus attention on the problem that’s getting worse rather than all the problems—unemployment, the deficit, limited opportunity—that are not? But in turn, they could be resolved with addressing the prevalent income gap. (Noah 368)…
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Whether in the form of money, training or education. One of the problems wealth nations have with providing aid is it may not get distribute to the people that really need it the most These global governments do not want an educated population for fear of the masses realizing what has been happening to them all their lives. Wealthy nations like to feel like what they are giving is making a difference, but in truth the poor do not see this money. The saying “the rich get richer while the poor get poorer” is an ominous cloud for the poor and it is starting to filter in to the middle class of society. The reality is wealthy countries do not want everyone to be on the same social or economically footing. This would disrupt the hierarchies that have been built up over the decades and the beginning of…
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Wealth inequality can be described as a lot of different things. The one that comes to mind the most though is the gap between the rich and poor. This gap is made up of a variety of different things. The one that comes to many minds is the tax code system. In order to correct the wealth gap in the United States efforts should be made to change the tax codes to close the gap between the rich and poor.…
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One of the most significant problems in the world now is that of economic inequality, and the social problems it produces. And the most damaging impact may be in developed nations such as the U.S. and Canada. The U.S. in particular has the greatest gap in wealth among all developed nations, and the problem it is causing is becoming more apparent with each passing day. During the recession in the U.S., at least 6 million people have lost their jobs; 25 million are underemployed. Eight trillion dollars of middle class wealth has been destroyed in the housing collapse. One out of eight mortgage holders owe more money on their home than it is worth. Fifty million people live at the poverty level. One of out of 8 people is on food stamps. One out of 2 children will be on food stamps at some point in their lives.…
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“Wealth inequality can be described as the unequal distribution of assets within a population. The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation,” (www.inequality.org) There are two factors that I believe contribute to the wealth gap are income and race inequalities. As the gaps widen within those two factors, the wealth gap in the United States continues to grow exponentially.…
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One of the many crisis within wealth disparity in America; is our broken, and expensive child care system. Child Care in America is a major crisis right now because it is broken, also, extremely expensive. We as American’s need to come together, and figure out a plan that works in fixing our child care system costs. Nobody ever would say how affordable their daycare is no parents hear that from other parents. Our young children should be in a safe, yet educational school at an early age, and affordable day care for that matter. How could America tackle this wealth disparity crisis, also by solving our broken child care system? Well employers of working parents should have day care centers onsite, and if they can’t do that they should give…
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Inequality exists around us. One of the inequalities is the income received by a person or member of a family. Income inequality refers to the various incomes within a given population. This income includes wages, salaries, pensions, and interest derived from the assets. The economy nowadays is very dynamic and is constantly growing, but the top is absorbing the biggest portion of the growth. As Arthur Okun once said: “Inequality is the price America pays for a dynamic, efficient economy; we may not like it, but the alternatives are worse. As long as the bottom and the middle are moving up, there is no reason to mind if the top is moving up faster, except perhaps for an ideological grudge against the rich—what conservatives call the politics…
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The economic gap here in the United States is a great deal wider than in any other rich democratic nation. Why is there such a difference here in the United States? The most important reason for economic inequality in the U.S. and not other countries is due to the United State 's particular economic policies (Christopher Jencks, "Does Inequality Matter?" Daedalus Winter 2002).…
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The United States is a capitalistic nation, which is a normal phenomenon to have a wealth inequality. Otherwise, it would be a communist nation. However, when the wealth gap is too wide, there would be a big problem, such as the working class people are not able to afford their shelters and foods. Capitalism is known as an economic and political system in which a country’s trade and industry are controlled by individuals rather than the government. In other words, capitalism is a system that the fittest and the richest survive. Therefore, capitalism is the major cause of the wide income and wealth inequality gap.…
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While spending time thinking about the goal in my life, the only one answer coming up in my mind is to achieve success. But what exactly the word ‘success’ should be defined? Thinking considerably, there are at least two fundamental achievements in life that inspire people. One is to be rich, while another one is to be famous. Though these two words are somehow closely related if you think about the celebrities who are famous and rich at the same time, there are some others who only have high recognition but not rich, such as Mother Teresa who devoted her whole life doing charity for the poor. Therefore, the topic that I am really interested in is about whether to be rich or to be famous is the key word for success.…
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To mankind history and many thousands years’ experience has shown a lot about how to live in harmony and happiness. But we still have yet to make sense of building somewhat equality among countries and nations, groups and races. Here is one more question: can we understand and notice this problem and its causes to much enough degree. If we can, what can be done about it?…
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