...“Wage Inequality” Centuries ago, it was socially and economically fit for the woman of the house to stay home adhering to household duties while the man of the house went out into the working world, being the sole bread-winner supporting the family. The “Leave it to Beaver” days are a product of the past, nearing ancient artifact status. Now, over half of the mothers and adolescents are forced to work outside of the home just to makes ends meet. This scenario forces children to day-long child care settings while both parents spend half of their days working to put food on the table. Financial stability is a necessity in this growing world thereby adding a great deal of stress onto those who are less fortunate. What constitutes for social inequality categorizing some as being financially less fortunate? In our society the “poor” usually account for either the homeless/jobless or those who have jobs that are far less skill-demanding such as a janitor or waiter. To a functionalist, a janitor may still make a contribution to society- but a lot less deserving of high wages such as an attorney, etc. This inequality is undeniable and still a functioning part of society. The conflict theory focuses on the competition between classes of society for these resources in an effort to maintain power and prestige. The capitalists battle with the under-class workers for control. “The United States has the fastest growing population by far and the greatest disparity between CEO pay...
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...Rola Medanat John Ventola Eng 101 Nov 16, 2015 Cause and Effect of Income Inequality The causes of income inequality in the United States came from many reasons and years; it affected the States a lot for generations. Researches have been made a huge topic of this subject matter. Income inequality is caused by wage growth, and values between the high and low earning workers in the states. Income inequality is getting worse according to” Thomas Sowell”, in his article “the root causes of income inequality”, he mentioned the factors that created income inequality. He talked about one of the problems is the statistics, and how it refers to a given set of people, such as the rich and poor. But in fact it refers to whoever is in a particular income bracket at a particular time. Thomas gave example of people who start out of the bottom 20 percent, over 95 percent of the people who start out there are no longer there 15 years later. In fact they reach the top 20 percent after that time period and stay at bottom of 20 percent, so the statistics are normally quoted are usually very misleading. (Thomas Sowell) In the movie “income inequality for all” by “Robert B. Reich” talked about how 5 percent of the Americans with highest income now they account 37 percent of the consumer’s purchases. He says our “United States has become unequal”. (Robert Reich) There are many causes and effects of income inequality in the United States, but I would like to discuss only three of them. Education...
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...one wonder whom is prospering economically. Are Canadian immigrants given equal economic opportunity when they arrive here, or are they subject to economic inequality? To answer this question, one can first look at earnings statistics and reports from Statistics Canada. This information can provide basic earnings information on immigrants, which will show how much Canadian immigrants earn in comparison to their native Canadian counterparts. A few drawbacks of using this information are that the statistics haven’t been updated since 2006, so the numbers may not be completely accurate, and numbers alone do not tell the whole story. As such, peer reviewed research articles and papers on the subject of economic inequality in Canadian immigrants can be used. These articles and papers provide both qualitative and quantitative information that paints a clearer picture of the situation. However, many of these papers are usually biased towards writer’s point-of-view, so there may be a lack of complete information. Finally, this issue can brought to light by telling of personal experiences and stories. Argument Using a variety of information from Statistics Canada, research reports, and personal observations, I will argue that immigrants to Canada are in fact facing economic inequality when they arrive. This inequality can be attributed to a number of factors. First, the government does not...
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...Anthony Giovenco Political Science Inequality Paper 12-18-14 The Effects of Wealth Inequality in the United States Wealth inequality in the United States has grown tremendously since 1970. The United States continuously reveals higher rates of inequality as a result of perpetual support for free market capitalism. The high rates of wealth inequality cause the growing financial crisis to persist, lower socio-economic mobility, increase national poverty, and have adverse effects on health and well being. There is no doubt that wealth inequality in America has been escalating quickly; the portion of total income earned by the top one percent has doubled since the beginning of the 1970’s. The wealthy are the main beneficiaries regarding income inequality. In the latest consensus of wealth distribution, the top one percent of Americans owned thirty five percent of the nations private wealth, and the top ten percent took home about fifty percent of all income in 2012. This figure is greater than the bottom 90 percent combined. The question commonly asked concerning this matter: How and why is this becoming so quickly unequal is to be examined. First, we must explain what is meant by the term “wealth.” Wealth is the collection of the assets people own. This includes homes, stocks, savings for pension, and bank accounts, minus all existing debts. The main issue regarding wealth inequality is income inequality. Income equality has grown increasingly in the past 30 years....
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...Income inequality Name Date Abstract In any given population, there is a difference between what people within the population earn. The uneven distribution of income in any given population is income inequality. In order for there to be income, there has to be several sources of income. These sources of income may be combinational or independent per person receiving the income. 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 major problem that would lead to an economic evolution. The main reason he foresaw an evolution was due to the recurrent nature of income inequality. In an 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 In order to understand the complexities of economic inequality, the best specimen to use for the study is a family. In the study, the family’s income is under analysis, and then the family members ranked from the lowest income earner to the highest income earner. After the ranking, the incomes aid in establishing a Lorenz...
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...the products. Now if the new comer or any other company bench mark itself against the work leader consequently it will try to improve the efficiency and productivity in comparison to principal company which ultimately enhances the company’s performance. 2. What are the essential arguments in favor of free trade and against free trade? Favor Free Trade - Law of comparative advantage - Increased competition leads to lower prices for consumers - Open economies lead to increased technological development and innovation - Higher standard of living - Better understanding of nations Against Free trade - Free trade benefits US companies rather than citizens - Environmental exploitation - Human Rights issues - Reduction in domestic wages - Lower domestic competitiveness as a result of developing facilities elsewhere Ch 2 3. Is it possible to estimate the gains from trade? Explain when it can bet estimated and when it can’t. Since the early 1600s Mercantilists has developed theory for measuring gains from trades with the assumption that a trade surplus would eventually lead to increase domestic productiona nd employment. In the 18th century used David Hue’s price-specie-flow doctrine states trade is good for the short run but now for the long run. Inflow of gold or other form of wealth will lead to an increase in the price of domestic goods. Higher prices for those goods will eventually lead to increased imports and decreased exports. If you can create surplus...
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...creating the goods and services as you can read more details in the Inequality’s website (UC Atlas of Global Inequality, 2013). Christian (2013) explained although there are some backlashes between the nations due to the disproportions in the world but it is proven that it has benefited the people economically. The three chosen article is being depicted due to an overwhelming relation as to a topic of a boost towards the economic globalization. All three articles are mainly about how immigrants have helped to improve the country’s job-growth, a hike in price in the housing industry, and to stabilize the country’s recession. Although all three articles came from different stories but the points that’s being made in all these articles are somewhat similar. First article is about the New Jersey’s rise of economy based on immigrants’ reformation as based on a blog written by Ali and Peter (2013). It has shown that having legal immigrants in New Jersey has helped to outweigh the economic downturn being faced in state. Second article is discussing about how immigrants prompts an economic recovery. In the United States of America, the immigration policies are being disputed because it is producing restrictions to develop economically. But since immigrants have proven to give out an economic breakthrough, many of the American citizens have argued about a change in the immigration policies as it is reported...
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...Supply and Demand Globally Shirley Leo Argosy University This discussion will include the definition and how it is used to determine the demand for labor. The factors used to determine the supply of labor market will be discussed. This will include the factors that have changed the supply of labor market over the last twenty years. Price and quantity of labor determination over a period of will be explained. Income inequalities will also be determined, if there are any. The way that income inequalities are measured, and how they have changed from 1980 to the present will be discussed. What role does the government play in the terms of inequality? There will also reasons for this and against this provided. Next, nations trading will be discussed. The concept of “Comparative Advantage” will be discussed. If a nation had an isolation policy would they be better off economically will also be answered. Then the trade balance of the United States will be discussed. The problems with having a negative trade balance, and how it can be corrected will be included in this discussion. The last thing that will be discussed is the exchange rates. The significance of currency devaluations concerning the United States, as well as other countries will be the last thing discussed. Now, to discuss derived demand. Derived demand is the product that is produced...
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...CROSSING BORDERS IN THE NEW IMPERIALISM (published in Colin Leys and Leo Panitch (eds), Socialist Register, London: Merlin, 2004) Bob Sutcliffe In words which seem uncannily relevant today, two mid-nineteenth century fugitives (in today’s language asylum seekers) wrote that “the bourgeoisie has through its exploitation of the world-market given a cosmopolitan character to production and consumption in every country”[i]. This cosmopolitanization (or in today’s vocabulary globalization) turned out to be neither as continuous nor as complete as they expected. By the beginning of the following century other emigrant followers of these two men began to argue that the full economic integration of world capitalism would be prevented by strife between the industrialized countries. Imperialism in this sense seemed to mean that globalization would be a task for post-capitalist society. This appeared to be confirmed by the following half century of war, protectionism and deep economic crisis until, in the middle of the twentieth century, cosmopolitan capitalism made its big comeback. Globalization is more than anything else the feature of today’s capitalism which leads many to argue that there is a new imperialism, or even that imperialism has been replaced by something else (for instance, by “post-imperialism” or by “Empire”). The real newness of the present is, however, debatable. In trying to discern the character of an age, it is tempting to argue that everything...
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...Los Angeles: A critical essay looking into increasing inequality and its root causes in the metropolitan area across the last 50 years Los Angeles is one of the most economically developed cities in the world and it represents a beacon of technological advancement, social progression and equal opportunity for people all around the world. Los Angeles (L.A.) was recently ranked 9th on the Global Economic Power Index (Florida, 2012) and 20th on the Global Power City Index that included criteria such as “livability”, “cultural interaction”, “environment” and “accessibility” (Institute for Urban Strategies, 2014). These ideas may ring true for some; however there are many who live within the city limits that experience a very different reality. In the last 20 years there has been an increasing amount of academic literature examining rising economic, social, political and underlying racial inequality within L.A. This essay will attempt to evaluate this literature so as to examine what inequalities are occurring and identify possible causes underlying them. For future reference within this essay, I am going to be looking at L.A. as the Greater Los Angeles Area, which includes the city of L.A. and other interconnected urban areas so as to avoid confusion on where possible boundaries are drawn and also to have a greater area from which to draw comparison from. Socio-Economic History Leading to Contemporary Inequality The situation Los Angeles is currently in can be attributed...
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...In “ The great Divergence” Krugman discusses the divergence between the rich and the poor. He explains that everyone who is below 90 percent of the wage distribution, and below the top 10% saw their income growing slowly than the average. Whereas, the top 10 percent, half of their wages come from the earnings of the top executives. In addition, krugman then explains that the economy and job market are changing. Even today, our society is becoming technologically advanced and now jobs expect people to obtain skills that meet their job skills. Consequently, that also affects other people. Immigration has been a controversial issue for decades and Krugman brings this up when comparing jobs and skills. “Immigrants make up at least 15 percent of the workforce(Krugman, 494)”. On the other hand, he discusses that some people are placed in jobs because of their skills. For instance, immigrants look for blue collar jobs because they are less skilled, compared to other who obtain skills that can help them move up the ladder. Another interesting thing he mentions is comparisons between increase of income overtime. Krugman compares CEOs and school teachers. Both have seen an increase of income, but CEOs have seen an increase rapidly while school teachers see an increase gradually overtime....
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...Income Inequality in America: An Analysis of Policies from Reagan to Obama and What Policies Can Help Close the Gap Income inequality in America has been of great importance in recent election cycles. Candidates from both sides of the political aisle have addressed the growing economic and social concern of increasing income and wealth inequality throughout the country. However, policies to address this growing concern are vastly different. This paper seeks to examine policies from Reagan to Obama that contributed to today’s massive income and wealth inequality. Was it tax reform throughout the 1980s and 1990s that contributed to inequality? Did the Federal Reserve perpetuate policies through massive quantitative easing that led to...
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...Although the treaty permitted immigration, the Meiji government still held a restrictive allowance for immigration. As other Asian countries, like China, allowed for more than 200,000 immigrants to travel to the United States from the years 1860 to 1880, the Meiji only allowed for only 335 immigrants. As agricultural work in America demanded labor, the Japanese government allowed and supported more immigration, specifically to California and Hawaii, by sponsoring citizens’ immigration. Traveling mainly to the pacific islands of Hawaii, the new labor was accepted and encouraged, as the healthy young men were committed work hands. When Hawaii was annexed in the late 1890s, some Japanese immigrants started to move towards the continental United States. Remaining financially stable by pursing agriculture, many natives started to become frustrate with the economic success of the foreign citizens and began to form hate groups such as the “Anti- Jap Laundry League” and the “Anti- Jap League of Alameda County” (Hing, 28). These groups impeded Japanese success in the United States and established a negative racial stigma around the Japanese culture. By the early 1900s, the West Coast of the United States was populated voluminously with many Asian immigrants looking for opportunities that were not presented in their home countries. Many immigrants worked arduous labor in the fields of agriculture, mining, or construction, as they were paid very low, unfair wages. In 1906, California experienced...
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...The Gilded Age was to describe America in the late nineteenth century. The outside of the US seemed glamorous and splendid alongside industrial development and massive economic growth. However, the dark sides were hidden beneath it. Some may argue that we are currently living in another Gilded Age, while others advocate that we have already reached a new era. In my perspective, I side with the former point of view. I strongly believe that we are living in the 2nd Gilded age. Here are four reasons why. Initially, wealth concentration and inequality were severe problems and are still now. Back then in 1870-1900, it was a period of wealth concentrated by many “Captains of Industry”. Social Darwinism was used to justify the extremes of wealth,...
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...Running head: INCOME DISTRIBUTION IN THE UNITED STATES Income Distribution in the United States and the Lorenz Curve 1 Market economies are favored and well-known for generating macroeconomic growth and progress in industrialized nations, such as the United States. Numerous academic studies and economic research have been done not only to measure economic growth, but also to analyze any disparities in income distributions among the general American population. This paper will examine trends and patterns of American wages since the 1970s, focusing on shifts in income distributions to see if these shifts can be interpreted as income inequality across different sectors of our society. Furthermore, this paper will study two important and interlinked methods of measuring income inequality, which are the Lorenz Curve and the Gini Coefficient Index. The Executive Branch of our federal government and the U.S. Congress keep a close eye on income distributions throughout the entire nation. These bodies rely heavily on data collected and analyzed by non-partisan agencies such as the U.S. Census Bureau, the Internal Revenue Service (IRS), the U.S. Bureau of Economic Analysis, the Congressional Budget Office (CBO), and academic institutitions that provide data and statistical analysis to assist in economic and budgetary decisions made by elected officials concerning a wide array of policy issues such as taxes, social insurance programs and other issues that impact the overall economy...
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