Peru Income Inequality Essay

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The world is full of inequalities such as gender, health, education, political, tax, innovation, and income inequality (some people are rich and some people are poor). It is important to understand what causes inequality. For instance, not having access to a higher education can cause inequality in a society. If someone works hard and finishes school, of course, he or she will have a higher wage, then this will not be a market failure. In other words, inequality means that there is a gap between people that earn more and people that earn less.

One of the roles of the state is redistributing income and making that difference between the rich and the poor in the country less apparently. There are two types of measurements that economists use …show more content…

Finland values a high education and promotes equality among its people through its education. It has left behind farming to excel in technology such as electronics and telecommunications. At the other end of the list is Haiti, which invests heavily in agriculture and has a low level of education making it one of the highest in the Gini coefficient equation at (60.8). This makes it one of the top five in inequality of income in the world. While the country of Peru falls between both nations at (45.3). Its wealth comes from its vast resources of precious metals such as gold, silver, and copper. Not to mention its exotic woods from the Amazon. Yet, this is only part of its economic growth in the past decade. Free trade with 53 nations of the world has helped it in reducing the poverty level of the nation. It relies on the economy of others for the health of its own! With all of this said, only half of the nation enjoys its growing wealth, those who have higher education and live in the big cities. All others throughout the country remain at low-income level. The Peruvian government is currently working this.

Now, one thing to keep in mind is that this Lorenz curve doesn’t tell you the wealth level of that country or how much millions an individual has. This means that a society could have a perfect income equality or perfect income inequality. But,

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