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Effect of income inequality in us
Effect of income inequality in us
Positive effects of income inequality
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Should Well-Off People Give Up Luxuries to Benefit the Poor in China?
Introduction
History, religion and philosophy unanimously opine that the wealthy should help the poor. In fact, every major religion in the world encourages rich people to share their luxury with their unlucky counterparts on a moral and ethical principle.
These teachings hold good today too because of the widening gaps between the haves and the have-nots. Millions of people worldwide are dying from thirst and hunger as money gets accumulated among an elite group of rich people. This difference between the rich and the poor is more prevalent among developing countries like China and India that have seen economic boom over the last few
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The creation of poverty is to counterbalance the organization of social structure. With the rapid development of the economy, poverty has become essential to participate in the big environment to see how wealth is produced and distributed. Thinking about individuals and society, if there is only poor people in the world, or if there is only rich people in the world, then there is no differences among people and globalization becomes an armchair strategist. So poor people are essential to the structure and organization of the society (Johnson, 1997). However, the amount of poverty needed to perform this act of counterbalance varies significantly between countries and even societies.
When poverty exists way more than what is needed, then it creates a social problem. More than poverty itself, it is the gap that exists between the rich and the poor that is a bigger problem as it has the potential to cause strife and protests within the society. For example, the poorest sections of the society may decide to come together to take out their frustration on the government through collective action. Alternately, they can engage in some form of crime that could be detrimental to the society at large. This is why it is important to contain poverty to the right levels within the
The most obvious effect of poverty remains the material aspect. The family has no money, therefore they cannot afford a good of decent quality. They can only purchase subpar goods. The family gets cheated numerous times in money related incidents. The housing agent cheats them the most, as they must pay much more money then he told them they would. Not only do they get cheated on the insurance, but they pay much more for the house than the value of it. The bosses cheat them as well: “big businesses had become even bigger. Large corporations were making a great deal of money, and some owners and managers became very rich. However, most of the people working in business and industry were not getting rich” (Duyne). When problems arise with the house, the family can only buy cheap goods to fix them with. When the...
The amount of people it effects is limited, no longer effecting the majority. Although poverty has minimized it is still significant poverty which is characterized by a numerous amount of things.There are two types of poverty case and insular. “Case poverty is the farm family with the junk-filled yard and the dirty children playing in the bare dirt” (Galbraith 236)Case poverty is not irretraceable and usually caused if someone in the household experiences “ mental deficiency, bad health, inability to adapt to the discipline of industrial life, uncontrollable procreation, alcohol, some educational handicap unrelated to community shortcomings” (Galbraith 236) .Case poverty is often blamed on the people for their short comings but on some levels can be fixed with the help of charities .Insular poverty is where everyone in that area is poor in this situation you are incapable of pinpoint one person shortcomings that caused this poverty. Most modern poverty is insular and is caused by things people in this community cannot control. “The most important characteristic of insular poverty is forces, common to all members of the community that restrain or prevent participation in economic life are going rates of return. These restrains are several .Race, which acts to locate people by their color rather than by the proximity to employment, is
Poverty is not just an issue reserved for third world countries. Instead, poverty is a multifaceted issue that even the most developed nations must battle
Everyone knows what the word poverty means. It means poor, unable to buy the necessities to survive in today's world. We do not realize how easy it is for a person to fall into poverty: A lost job, a sudden illness, a death in the family or the endless cycle of being born into poverty and not knowing how to overcome it. There are so many children in poverty and a family's structure can effect the outcome. Most of the people who are at the poverty level need some type of help to overcome the obstacles. There are mane issues that deal with poverty and many things that can be done to stop it.
Poverty as we know it is not a new issue at all, but none the less it’s a crucial problem that plagues much of the world. So much so, that it’s been stated that three billion people live off of less than $2.50 each day (dosomething). Poverty is a debilitating state to be stuck in, it takes so much more from people than just from a financial aspect. Someone who’s suffering from poverty have higher chances of experiencing a medical problem. People in this economic state also have much lower odds at succeeding in important areas such as school or finding a job. Poverty does not use a narrow view, instead it plays effects on people in much wider variety than just financially.
Imagine living in a community where every minute of everyday you are hungry, under clothed, and at risk at death because you are poor. Now imagine waking up and your biggest problem was which sweater to wear with which jeans. Both are scenarios that occur on a daily basis in our countries, some more extreme than others. With that in mind, this raises the question of whether rich nations have an obligation to help those nations in need. People who earn above a certain income should be forced to donate 10% of their money to the poor because, it will help break the vicious circle of poverty, help the society at large to move forward, and lead to a more equitable distribution of wealth. The poor do not have the money to save; all of the income goes to food, lodging, and heating bills, which are essential for survival. There is little left over to enjoy the luxuries of life, such as a home with heating, education, medical care, or even three proper meals a day. Because of their lack of education, they cannot get a well paying job, and thus are stuck in the lower classes of society. To he...
Most people of the society still blame the poor for their own predicament. They believe that "if there is a will there is a way". However, they do not think about their government that might had made bad decisions and policies that could actually harm successful development. This causes of poverty and inequality are usually less discussed and often neglected. We must recognize the effects poverty could have on the society and seek ways to create better understanding and resolve the issue before it is too late.
Many of us view poverty as mainly a third world issue, because it tends to have little effect on the majority of individuals on a recurring basis. Yet, it is a difficult situation prevalent in all types of civilization, despite the overall advances in technology, medicine and education that one country may have over the other. Poverty does not necessarily have to affect a specific individual, but as a country, it affects all levels of production; even when the production of a single country begins to falter, it could potentially have major effects on others, creating a continuous cycle.“Poverty is color blind”, it does not discriminate, and is a societal problem that needs to be dealt with today (Fullerton, par. 3). If not helped or solved,
The world contains a lot of societies, cultures, and classes. Each household belongs to some social class that represents their level of education, their work position, and their financial status. These different classes have created a conflict between people. It fills rich people's minds with the thought that poor people are criminals, and that conflict ended up with creating poverty. The authors Gilbert, Kahl, Magnet, and Gans are discussing the important causes and reasons that created poverty in comparing and contrasting these points with each other.
There are several reasons to why poverty exists in the 21st century for instance "In most nations today, inequality—the gap between the rich and the poor—is quite high and often widening." [3] The large gap seen within in the rich and poor communities plays a large role for causing poverty because some are lavished with everything while others have nothing, which is unfair.
Many thing can have an impact on poverty. Some of these thing help to continue poverty and create more problems within poverty. Social stratification creates social classes that helps to divide society. The economy, as well, helps to create these classes. These classes then can create inequality, which helps to continue poverty.
In the world today there is a lot of poverty. There is a great divide
Wealth inequality is the uneven distribution of resources in a given state or population, which can also be called the wealth gap. The sum of one’s total assets excluding the liabilities equates the person’s wealth also known as the net worth. Investments, residents, cash, real estates and everything owned by an individual are their assets.In reality, the United States is among the richest countries in the world, though a few people creating a major gap between the richest, the middle class and the poor control most of its wealth. For more than a quarter of a century, only the rich American families have shown an increase to their net worth.Thisis a worrying fact for the less fortunate in the country and calls for assessment (Baranoff, 2015).
wanting to give more than what they have. moral character of the rich and the poor and
There are two ways to categorize poverty from a sociologist viewpoint. Absolute poverty simply refers to the condition in which one is unable to afford the necessities of life, whereas relative poverty refers to the condition in which one is unable to afford that which is considered a normal standard of living in society. Absolute poverty is far more worse than relative poverty because they could quite possible not have a house or food to live on for everyday survival. There are basically five different categories in which each poverty stricken person can be placed in. The first category are those who are not able to work because they are too old, too young, disabled, or tied down by social responsibility. The second category are those who are able and qualified to work but can not find work. The third category are those who are not equipped to fill available jobs either because they are undereducated or because their skills have become outdated. The fourth category are those whose social and personal problems have brought them to a point of self-defeating discouragement. The last category are those who are underpaid, or unable to get a fair price for what they have to sell. After defining which people are in poverty, these categories can answer my question of why are they in poverty and how they can be helped.