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that the gap between the rich and the poor is the most important economic issue facing the world today and this poses a great danger to social stability as well as democracy. Income inequality is caused by different levels of education, the social status that an individual or group occupy as well as their race and gender. The inequality can lead to severe consequences such as increase in crime, low life expectancy and affects the social bonding. The widening income inequality impacts on social relation creating mistrust, anxiety and competition for status.
In the United States, income inequality is measure by the standard method referred to as Gini coefficient. The gap has tremendously increased as seen in the recent past and is said to be highest since the 1920s, the income of the rich one percent rose with a twenty percent whereas that of the remaining ninety nine percent went up by just one percent( Ryscavage, 1999) . Research studies on national wealth showed that the top one percent of the wealth Americans controlled about forty percent of the nation’s wealth (Ryscavage, 1999). Their income increased by about two hundred and seventy five comparing that to just under forty percent increase for the sixty percent middle class earners (Ryscavage, 1999). Unlike in the past when the rich had their income from wealth accumulated from past generation today the rich Americans belong to the working class who are employees paid highly or are entrepreneurs. They have the central believe that you should work tirelessly to make your money, their culture is capitalistic in nature for instance they acknowledge that you might be poor but work and get money.
Americans have the widest gap between the rich and the poor than any other advanced economy in the world what is of much more concern is that it does not bother most people, the poor struggle to join the higher class rather than work towards achieving equality. The main goal is to achieve economic growth this is the
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This is evidenced in publications such as mark twain’s huckleberry Finn, which is a book written a long time after the emancipation of slaves though it still reflects a society that is engraved in racial profiling. In the book, black men are referred to as Negros, and they still call their employers master.
Further United Nations observes that women lag behind men in access to land, credit, and decent jobs, even though a growing body of research shows that enhancing woman’s economic options boosts national economies (UN Women, “Focus Areas”). Universal Declaration of Human Rights made a landmark declaration on 10 December 1948 reaffirming that “all human beings are born free and equal in dignity and rights and that everyone is entitled to all the rights and freedoms – without distinction of any kind such as race, color, sex, language, religion, birth or other status” (UN, “Global Issues”).
More so, it gives a chance of addressing the escalating crises in American society in the last few years which involves worst economic predicaments in decades, polarizing debate on immigration, rapid rise in health care costs, and continued growth of economic inequality (Francis, 1945).
These disparities came from change in economic conditions associated with wealth generation and distribution within a given nation. In addition, economic inequality results from movement of economic power from one sovereign nation or region to another. This is the reason why there has been significant change of economic situations since the mid nineteenth century.
In case of slavery, certain individuals are recognized as owners of other individuals who are regarded as their assets and slaves. Those who own slaves manipulate them in order to gain benefits that are material in nature. Slavery has been witnessed by Americans since the start of the creation of New World when Europeans migrated to the Americas for economic gains and it came to an end after the civil war when the African American slaves fought for their freedom.
r of alterations starting from the activities of the Dutch, later on Japanese in World War 2 and then the time when Indonesia emerged on the map of the world as an independent state. Such types of changes were both because of the political and identity issues. The name of their
Since its establishment, the company has been a major player in the NYSE. The company’s shares are traded under the stock ticker symbol PEP. Currently the company’s shares are traded in major stock markets such as the NYSE. The company operates from its headquarters
In America, the gap between the old aged and the young is increasing at a tremendous rate, hence distorting the idealized identity and responsibility of each individual in the society. The American society has developed a controversial yet rave
Because of that challenge, the unfortunate population’s health, employment, family and safety is often unflavoured. Studies indicate that even countries with the best and strongest economy also stand being hurt by inequality in
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