Inequality: Causes and Consequences
Florida A& M University
Inequality is the lack of equality, opportunity, treatment, or status. Inequality has been going on since World War II and began to rise in the mid 1970s. Many people in the world from the United States to the Caribbean have dealt with this problem. In this article it discusses the causes and consequences of inequality researches and examinations of sociologists and economists that go in depth of the social and political life of people mainly in the United States, as well as global. It provides an update of research on their consequences. Also it focuses on the international comparison to sharpen the readers understanding of domestic trends of the readers. The consequences on inequality deals with economic inequality of health , crime, change educational attainment, politics, social capital, and other outcomes that is discussed throughout the article. Sociologists’ research goal is to make readers knowledgeable of the processes driving inequality dynamics and their different implications in different social domains. Economic inequality in the Unites States is a social problem today is because of the importance of wealth. People are obsessed with money that how to get it they will do anything even it means undermining someone. It is true that some measure of inequality is good for an economy. It sharpens incentives to work hard and take risks; it rewards the talented innovators who drive economic progress. Free-traders have always accepted that the more global a market, the greater the rewards will be for the winners. The political questions that gap has raised about the plight of the middle class has given rise to anti-Wall Street sentiment and animated the presidential campaign. Now, a growing body of economic research suggests that it might mean lower levels of economic growth and slower job creation in the years ahead, as well. Since the 1980s, rich households in the United States have earned a larger and larger share of overall income. (True Progression , 2012). The one percent earns about one-sixth of all income and the top 10 percent about half, according to statistics compiled by the respected economists. For years, economists have thought of such inequality in part as a side effect of policies that fostered the country’s economic dynamism ; its tax preferences for investment income, for instance. And organizations like the World Bank and the I.M.F., which is based in Washington, have generally not tackled inequality in the world head on. (True Progression , 2012) The primary patterns in causes in inequality in the United States are the wage, wealth, and opportunity. Wage inequality in the United States stated growing in the mid 1970’s and surged more sharply in the 1980’s and 1990’s. The highest 1 percent experienced higher income growth than the next highest. Change in total family income inequality paralleled that in individual wages, but 9 percent , while the highest 0.1 percent gained more than others in the top 1 percent. The United States has history of being more unequal than other industrialized countries because “ the poor was too poor” (True Progression , 2012) . Research done by Gangl the United States still has the highest income inequality among industrialized countries after accounting for short-term variation. Trends in real value of the minimum wage account for significant share of the rise in lower. However, a large share of the growth in disparities is within-group or residual in words not accounted by education and experience. The role of technology in recent labor market trends remains uncertain. The link between changes in economic organization and growing inequality of wages is plausible. Inequality in wealth , wealth is more unevenly distributed than income. The one of wealthy people that was described earlier are one-third of the wealth inequality grew in the 1980s then stabilized during the 1900s. The...
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