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The Growing Income Inequality in Many Societies - Book Report/Review Example

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Tthe reporter underlines that based on the assertions put forward by the Guardian, The Growing Income Inequality Is Evident In Many Societies. The inequality is wrong for it leads to negative bearings to the society…
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The Growing Income Inequality in Many Societies
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Download file to see previous pages Therefore, various leaders including the Pope Francis have warned against the increase of inequality in the economy saying that it would be dangerous (Elliott, 2015).
The Guardian Newspaper also found out that inequality brought about the rise of political agendas. Therefore, governments have adopted a plan to handle inequality of wealth and income. The plan involves investing in free major services like education and health. This is to help the public benefit regardless of their economic class. Clamping down tax by introducing a regression method where people pay tax according to their income and not at a fixed amount is yet another plan used (Elliott, 2015). The government plan to introduce a minimum wage to ensure that workers are properly paid and introduce tax shifting to create a fair economy that will bridge the inequality gap (Gutting & Anderson, 2015). Governments were also expected to come up with a common goal that would eradicate inequality.
This kind of inequality development has been caused by the history of colonization to various economies. This is especially the third world countries that were colonized by countries like British. According to Deepak Lal, in The Misconceptions of Development Economics, many third world countries have the problem of income and wealth inequalities. This because rely too much on their colonizers for funds. This makes them have the problem of inequality of income because funds provided by these colonizers are dictated upon. This has more of negative impact on the poor than to the rich hence increasing the gap between them (Elliott, 2015).
The gap between the wealthy and the poor still enlarged over time due to various factors. Among other causes, neoliberalism is said to take the greatest blame for the widening of the gap. Neoliberalism has been defined as a theory that was used in the past years by the governments that hold the personal liberty of a government in free markets. ...Download file to see next pagesRead More
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