Nobody downloaded yet

Income inequality, how the gap is getting bigger - Term Paper Example

Comments (0) Cite this document
It’s often expressed as a percentage that is income percentage versus the population percentage, for instance where sixty percent of income…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.4% of users find it useful
Income inequality, how the gap is getting bigger
Read TextPreview

Extract of sample "Income inequality, how the gap is getting bigger"

Download file to see previous pages 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 ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Income inequality, how the gap is getting bigger Term Paper”, n.d.)
Income inequality, how the gap is getting bigger Term Paper. Retrieved from
(Income Inequality, How the Gap Is Getting Bigger Term Paper)
Income Inequality, How the Gap Is Getting Bigger Term Paper.
“Income Inequality, How the Gap Is Getting Bigger Term Paper”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Income inequality, how the gap is getting bigger

Income inequality 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...
3 Pages(750 words)Essay

Income Inequality

.... Gill, F. and Peek, L. (2004). Poverty and Disasters in the United States: A Review of Recent Sociological Findings. Natural Hazards, 32, 89-110. Kehler, J. (2001). Women and Poverty: The South African Experience. Journal of International Women's Studies, 3(1), 41-53. Lund, C., A. Breen, A. J. Flisher, R. C. Kakuma, J. Josko, L. Swartz, L. and Patel, V. (2010) . Poverty and common mental disorders in low and middle income countries: A systematic review. Social Science & Medicine, 71(3), 517-528 Marais, H. (2010). South Africa Pushed to the Limit, the Political Economy of Change. Claremont: UCT Press. May, J. (Ed.). (2000). Poverty and Inequality in South Africa: Meeting the Challenge. Cape Town: David...
6 Pages(1500 words)Essay

Income distributioni:should income inequality be reduced

...of his or her class. If he or she fails to perform it, the society labels them lame ducks and under dogs. And, vice versa, if the member of the defined social group performs better than he was expected to perform, people call him a successful person. “Economic inequality may not be the greatest crisis facing the world today” (4) – note Champernowne and Cowel, the authors of Economic Inequality and Income Distribution. We can note that the evaluations we give to the social successes or failures of the surrounding people are of great dependence from the social status of the person we evaluate. For example, if we get to know that Mary, the child of the working poor,...
3 Pages(750 words)Essay

How income inequality effects teen pregnancy

...pregnancy during teenage (Rich, 2012). Scholarly studies reveal that there is a direct “connection” between teenage pregnancy and income inequality (Oakes & Jolicoeur, 2012). This study intends to find out the relationship between income inequality and teenage pregnancy as this is becoming the most discussed public problem in present day. Teenage childbirth has a big risk on mother as well as the child. Many studies have identified a relation between “income inequality” and teen pregnancy. Researchers contemd that the teens living in a place where the income inequality is greater, in such a situation...
3 Pages(750 words)Research Proposal

Getting to know Bigger

.... "I simply cant get accustomed to it," he lets one know of his poolroom pals. "I vow to God I cant… Every time I contemplate it I feel like some persons jabbing a super hot iron down my throat. Bigger #2 His every day presence is smudged with apprehension of white individuals, dread of life itself, and disgrace at the way his family exists. In spite of the fact that we know hes picked up another employment, even the new occupation offers little trust for a superior life. His family will keep on lying in the same rodent plagued one-room condo and battle to put sustenance on the table, a reality that fills Bigger with a miserable feeling of his own weakness. The Daltons, the well off white...
6 Pages(1500 words)Essay

Income Inequality

...situation, the richer keep getting richer due to a better income, while the poor keep getting poorer. The gap between the top earners and the low-income earners keeps widening in an income inequality situation. In America, almost 95% of the national wealth is under 5% ownership; this situation leaves 95% of the population to scrounge for the limited 5% wealth (DeNavas et. Al, 2005). Introduction For economic inequality study, a family makes the ideal study unit. In the study, the family’s income is under analysis, and then the family members ranked from the lowest...
10 Pages(2500 words)Essay

Income inequality

...played a role in the inequalities. One such factor is the ability of trade unions to negotiate for better pay for their members. Policies and institutional framework in a country may also contribute to income inequality. The use of high taxes and social transfers by governments may redistribute incomes within the economy. Some countries show a reluctance to apply such policies and hence cause the gap between the rich and the poor to widen. For example, due to social transfers and direct taxes, the Gini in Germany reduced by nine points but fell by six points in the US. That demonstrates how a government’s decisions and policies may...
6 Pages(1500 words)Essay

Income Inequality

...arithmetical indices for calculating economic disparity. The commonly used methodologies include the Gini coefficient and the Lorenz curve, however, there are still other methods (Conferenceboard, 2015, Pg. 2). Economists have stressed that income inequality has brought about growing social problem. The economist view that the world cannot be a just and fair place for everything but too much disparity can be damaging. This is because income disparity and wealth focus can obstruct long term growth of a country’s economy. Previous economic studies contrasting disparity in economic growth had been unsatisfying, nevertheless in 2011, the International Monetary Fund economists revealed that...
4 Pages(1000 words)Essay

Income Inequality in America

...are supposed to access quality education but many children from poor backgrounds cannot afford advanced degrees. As a result, children from low-income earners cannot get the good jobs in America. The idea of America to provide a democratic environment for all the citizens is not a reality as oppression is higher than it was some years back. In conclusion, income inequality is of great concern as the gap is widening every day due to poor distribution of resources. The weak recovery from recession and the slow economic growth have many implications on the gap that exist between the rich and the poor. Income distribution...
4 Pages(1000 words)Essay

Income inequality in America

...responsible for leading a nation must be elected or appointed fairly, and democratically accommodating all individuals (Noah). The government of the United States has ever since worked hard to solve the problem of income inequality especially the imbalance between wealth and poverty. According to Noah, “inequality is increasing almost everywhere in the industrialized and postindustrial world.” Many can argue that income inequality is not a governmental obligation, but contrary, the individuals in power and leadership are better positioned to address this disparity. Because, the government is in control of various systems in the country and determine...
6 Pages(1500 words)Essay
sponsored ads
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.

Let us find you another Term Paper on topic Income inequality, how the gap is getting bigger for FREE!

Contact Us