Essays on Income Disparity

Introduction

The majority of today’s economic commentators and politicians are opined that capitalism is the best way to build a perfect society. Furthermore, several research studies demonstrated that this assumption is also deeply ingrained in the contemporary public opinion of many Americans, who strongly believe that the current system of income distribution is the shortest way to making the American, and, possibly, the international society completely egalitarian (Robibson & Santos 9). Many people from the developing countries believe that the American economic system provides is the best way to make it possible for everyone in the country, as well as ...

Introduction

The United States is one of the most developed countries, but it is also one of the countries with the highest level of income inequality. According to research, more than half of the nation’s income goes to only 5% of the population, while the remaining half is shared by the 95%. One way of measuring a nation’s income inequality is through the Gini coefficient. The Gini coefficient measures income inequality on a scale of 0 to 1 wherein 0 corresponds to total equality; a scenario wherein everyone is earning the same amount while 1 corresponds to total ...

Two of the most remarkable stories of growth in the past 3 decades has been the growht of China and India's economies, two countries. Their populations, when added together, make up one-third of the total population of the world. While India and China's development paths have been different, there are many similarities to their approaches. Both countries developed their private sector, deregulated laws, liberalized prices and opened their countries to foreign direct investment (Reddy 3). However, China and India have relied on different economic drivers for growth. China has focused its efforts on manufacturing and exporting goods, while much ...

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Income Inequality in America

Introduction Income inequality is one of the most observable trends in the American society today. There are, for instance, super rich Americans with the resources that are exceedingly high compared to the average American wage earner. Over the years, the disparity between the rich and the poor in terms of income has been widening and it is widening rapidly. Income inequalities have become exceedingly unacceptable that it has become one of the most controversial and talked about topic in contemporary American society. In fact, this coming 2016 United States presidential election, one of the key issues is ...

Introduction

The aim of any government and society is to promote life where people have fair chances of succeeding depending on their work and adherence to the law. Any society is primarily created to uphold peoples’ life, liberty, and to facilitate their pursuit of happiness. In America, social inequality is predominant and has led to perpetual social stratification and mobility, resulting in erosion of living standards of the people. This paper will discuss and analyze social stratification and mobility in the United States in relation to poverty, race, gender, and education and how they determine individuals’ belonging to a particular ...

The census bureau determines poverty levels in the USA through a comparison between pre-tax incomes against the threshold. The threshold is normally set as three times the cost of the minimum food cost of food diet and is updated every year. The consumer index is updated annually depending on the size of the family, and the prevailing inflation (Ritakallio, 2002). The threshold is not dependent on the geographical position. Poverty threshold is used to track past poverty and compare poverty across geographical regions. The poverty threshold is also used to determine how federal assistance will be distributed and its ...

Globalization and Inequality

- Justification for the topic Globalization and inequality is a significant topic among the international community because inequality is brought by injustice, unequal opportunity and privilege. Some of these negative elements of globalization bring about deterioration in a county’s economy. When a country has slow economic growth because of inefficient government, poverty crawls into the country making people’s standards of living lower. According to the economic theory, it blames the social institutions such as the government for the inequality for the society. For example, lack of proper distribution of income and resources, the lower working class do not have a ...

Great Divergence can be said to be the period of great income inequality or unequal wealth distribution which took place between periods in 170s up to 2007. Great divergence in the U.S. saw the high income earners continue getting more and more while the low earners continues to earn less and less. This increased the gap between the rich and the poor thus greater income distribution inequality. It was more pronounced in United States and lesser in other countries such as Canada and UK. According the research carried by CBO in 2011 on income distribution in the US for ...

Introduction

Mother to Mother Initiative is a community based women empowerment organization that will target poor single mothers and other vulnerable women. The organizational activities will be run and coordinated by professional women willing to volunteer their time to help their vulnerable counterparts. The concept of Mother to Mother is based on the reality that only a woman who is a mother can understand the length to which another mother can go to, to provide for her children. It is therefore easier for a woman empathize with poor, abused, disabled, unemployed or depressed women who are still struggling to fend for their families. ...

The American dream idea has received numerous definitions and perceptions, but predominantly lies in attaining high income, economic security and acquisition of prestigious jobs. There have been many people around the globe who have immigrated to the America seeking for success. The American dream, however, entails a wider perception rather than economic well being of the people. However, various authors express that the American dream has further been fantasized by the people as it has been taken to mean something excellent, which is far from being excellent. This has been due to the increasing income disparity between the poor and ...

In the present era of globalization the whole world has turned into one village. It is not difficult to get things of your choice from various parts of the world at your doorstep. Most of the recognized brands operate globally and they maintain same quality and related aspects across the globe. If we take example of any product or service, we find that companies have set of standards so that they provide same quality, same look and feel of the product even if the product is manufactured in multiple locations around the world. One interesting category is food, in ...

In Harris, Hackett and Firestone's article "Double Jeopardy: Race/Ethnicity and Sexual Harassment in the U.S. Military" (2011), research is performed on a sample of respondents from a survey conducted by the Department of Defense, whose purpose was to figure out how often sexual harassment occurs within the military based on race and ethnicity. This was done to determine whether or not minorities have a greater likelihood of experiencing sexual harassment in the military.

According to the results, black women do not experience a higher degree of sexual harassment based on their race, but Hispanics and those of other races encounter varying degrees of ...

Conflicts in measuring income disparity in Hong Kong

In terms of comparison between the west and east, parallels are often drawn between the two cities of New York and Hong Kong. They are both relative in terms of population, square foot area, lifestyles and even constructions and economy. However, unlike New York, Hong Kong’s rise to power in the global economic scene started only in mid 90’s and had shown exponential results—its gross GDP growing a whopping 180 times in the period between 1961 and 1997. The city had been popularly described as “World’s greatest experiment in laissez-fare capitalism” by Milton Friedman. In ...