In his car‚ traversing through his hometown of Westlake‚ Louisiana‚ Mayor Hardey has implemented all of the policies that a Republican could ask for: he has invested immense amounts of money towards foreign oil companies like Sasol‚ he did not implement heavy taxes‚ he has worked towards deregulation of these oil companies‚ and as a result‚ he was worked towards the expansion of industry‚ in hopes for a promise that their town and their State as whole‚ will become prosperous and wealthy. Despite
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Economic disparity‚ also known as income inequality‚ comprises all the inequalities in distribution of assets and income. Some economists affirm that the gap between rich and poor is the result of a well-functioning economy. In addition‚ studies have considered inequality something necessary and beneficial (Garret). Nevertheless‚ equality has shown to promote consumer spending and prosperity (Inequality: Recent Trends in China). However‚ governments cannot seem to decide on the morality and utility
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Since the reform and opening policy in 1978‚ China has been showing a rapidly growing economy in her development. However‚ excessive attention to economic development has generated wealth inequalities among rural and urban populaces. Therefore‚ a rigorous problem we are faced with is how to deal with the trade-off between equity and efficiency in the country’s economic development. This essay will present three possible solutions: the privatization of the state-owned enterprises; adjustment of the
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his book ‘Capital in the twenty first century’. Piketty divides income in two‚ the wage and the capital. Then‚ explains how each plays role in inequality. The large gap in wage includes political reasons. Capital includes both natural and political reason. Accumulated capital
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FACTORS LEADING TO THE INCREASE IN THE GAP BETWEEN RICH AND POOR NATIONS DUE TO GLOBALIZATION INTERNATIONAL INEQUALITY Inequality must be defined and be able to be measured so that comparisons can be made between rich and poor countries. Once the causes are determined‚ the effects of globalization can be evaluated and be measured. The World Bank defines inequality as the disparity of income and standard of living among nations and their citizens (Birdsall‚ 2002) The income gap that exists
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India. Photo: Tom Pietrasik/Oxfam WORKING FOR THE FEW Political capture and economic inequality Economic inequality is rapidly increasing in the majority of countries. The wealth of the world is divided in two: almost half going to the richest one percent; the other half to the remaining 99 percent. The World Economic Forum has identified this as a major risk to human progress. Extreme economic inequality and political capture are too often interdependent. Left unchecked‚ political institutions
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only grown. The map of the world below‚ from the United Nations Development Programme based on the Gini coefficient clearly shows the preponderance of wealth and the inequality that exists. ‘The Gini coefficient is a measure of income inequality that ranges between 0‚ indicating perfect equality‚ and 1‚ indicating complete inequality.’ (UNDP‚ 2003: 39) The report continues to note that the ‘richest 5% of the world’s people receive 114 times the income of the poorest 5%. The richest 1% receive as
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Inequality and health in Malawi 2011 – an analytical study identifying trends over 19 years George Chapotera1 and Cameron Bowie2 1: Department of Planning‚ MOH 2: Department of Community Health‚ College of Medicine‚ University of Malawi‚ Blantyre‚ Malawi. October 2011 Prepared for the Technical Working Group on health equity Ministry of Health and SWAp partners Abstract Background Malawi is the eleventh poorest country in the world according to UNDP (HDR2010). Health affects
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levels of inequality. In this age of globalization‚ both business and political models have shifted their focus to conform to the multifaceted issues that have defined the 21st century. It is through further examination that we can see the underlying factors that have contributed to rising economic inequality‚ and how society and government have approached this polarizing issue. The purpose of this essay is to analyze the political‚ social‚ and economic responses to growing inequality. It is important
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of income inequality. Income inequality has been rapidly rising in America since the late 1970s. Income inequality has a host of social-economic consequences‚ and the topic has become a cornerstone issue for the socialist senator from Vermont‚ Bernie Sanders. His campaign is heavily focused on the economy‚ but more than that‚ his economic policies are heavily focused on reversing the upward trend in income and wealth inequality. Sanders has made it clear that tackling income inequality is a critical
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