We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Income inequality - Essay Example

Comments (0)
Summary
Income Inequality Table of Contents Income Inequality as a Moral Issue 3 Works Cited 6 Income Inequality as a Moral Issue This paper explains why inequality in income is a problem in the moral sphere. It takes off from Krugman's argument for why this is so…
Download full paper
GRAB THE BEST PAPER

Extract of sample
Income inequality

Download file to see previous pages... In simplest terms, because moral inequality causes harm, and has little to no mitigating positive effects to society, then it is morally wrong (Krugman). This is the same reasoning used by Frank, framed another way, by pointing out that in fact income inequality is a moral issue because in fact economics was the child of moral philosophy, being born into existence by moral philosophers. Income inequality being a subject that falls within the discipline of economics, it makes sense that at its very root income inequality is a moral issue (Frank). The social Darwinist position on income inequality is that it is in essence the way nature operates, revealed in the workings of the economic system of human beings in society. This being so, the social Darwinists argue that the best course is to essentially leave things as they are, and to let people do as they please and according to what they see as working to their best interest, and see how things go. The government making attempts to address social inequalities, such as inequalities in income, does not work for the best interest of society, because it would go against the working of nature. In the area of income inequality, Frank and Krugman each in their own way point out the natural practical consequences of the Darwinist position. Where a few manage to get a substantial portion of the economic pie, that few can begin to exert considerable influence on the various political and economic processes in the country, twisting the processes for their own gain. These are the modern lobbies. Frank points out that it is this strong influence of the few and the rich that has led to the Darwinist position yielding reduced tax rates for those who are already wealthy, in turn further increasing inequality in income. Krugman has his own examples of the impact of the Darwinist position and the chronically strong power of moneyed interests in corrupting the political process, mirroring the example of Frank. One such case cited by Krugman is with regard to the awarding of tax breaks to hedge funds by the legislative branch, even if such tax breaks resulted in revenue losses for the government. The hedge funds were big contributors to the political campaigns of the lawmakers who voted in favor of the tax breaks. It is essentially the working out of the Darwinist position in real life. The powerful hedge funds, working for their own interests, have been able to bend the political and legislative process to favor them (Frank; Krugman). The gist of the arguments against income inequality on the other hand, are those that speak of the many harms that income inequality pose on society, on various levels, as itemized and discussed in some depth by Krugman. The first is that income inequality fosters social inequality, and social inequality in turn breeds its own ills. Including that it forces families across all economic groups to be part of a treadmill of trying to keep up with each other economically, with disastrous socially negative consequences in turn. The rat race has resulted in more bankruptcies as parents try to fight for space in neighborhoods that can give their children a leg up in the race too, by being able to go into good schools in good school districts, as an example. Elsewhere data suggests that parent status correlates with the educational outcomes of children too, further elevating the pressure on parents to compete and win the rat race, for their children's sake. ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Income Inequality
Poverty incident as measured by the social welfare index steadily declines in the South African region since 1980s. The government policies aimed at increasing international trade and removing economic discriminations against the rural markets largely contributed to the improvement of national poverty statistics in these Nevertheless the rural, urban and national poverty in some countries such as Zimbabwe and Nigeria are increasing (Sahn and Stifel, 2000).
6 Pages(1500 words)Essay
Different sectors and their current performance
It must also be noted that the construction industry in the UK has been growing in terms of maintaining, designing and developing, operating and repairing of buildings.These and more are captured in this paper which looks into five key sectors in the UK construction industry.
3 Pages(750 words)Essay
Income distributioni:should income inequality be reduced
Nowadays it’s much easier to tell the difference between the representatives of people who possess different social status. They differ a lot in their language, national origin, clothing,
3 Pages(750 words)Essay
Income inequality in the UK
A higher number shows more unequal distribution of income. According to (Cribb, 2013 ) the rise in the level of income inequality in industrialized nations lead by the host of English speaking nations such as the
1 Pages(250 words)Essay
Income Inequality
Income may result from wages, rent, bank account interests, salaries or even profits made in business transactions ( Stiglitz, 2012). In his hypothesis, Karl Marx foresaw income inequality in a capitalistic as a
10 Pages(2500 words)Essay
Income inequality
There are several factors that cause income inequality in developed countries. Such factors are important for any country to consider in policy making. In terms of income, there is a
6 Pages(1500 words)Essay
Income Inequality
The subject of economic disparity can incriminate ideas of equality of opportunity, equity of consequence and general equity. However,
4 Pages(1000 words)Essay
Income Inequality in America
Talented children from low-income families have a challenge of pursuing their careers through talent development. Income inequality is rising every day due to the stagnant incomes earned by the poor and the middle earners.
4 Pages(1000 words)Essay
Income Inequality and Economic Growth
This creates a situation whereby one will have to abandon some goods or services in order to enjoy more of others. In cases of inequality that is brought about by unequal distribution of wealth and resources, the budget lines of the individual citizens are highly
1 Pages(250 words)Essay
Income inequality in America
Income inequality is the unfair distribution of wealth and economic resources between various groups of people, different societies, or individuals within a state. Equity is equality, and where equity fails, inequality must stand.
6 Pages(1500 words)Essay
Let us find you another Essay on topic Income inequality for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us