Income/wealth inequality in the U.S has grown rapidly over the last few decades. “Today the richest 1% own 34% of the wealth and top 10% own 74%” (Hodges). The main causes of this discrepancy are attributed to the technology boom‚ the need for companies to outsource production and inherence of wealth as well as company differences. Though the growing gap is alarming to Americans‚ it is important to remember that income and wealth inequality is an accepted result of a capitalistic economy. The
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KEY POINTS FROM DR. ROBERT REICH’S FILM‚ INEQUALITY FOR ALL THE STATS+ Wealth Distribution • Today‚ the U.S.‚ by far‚ has the most unequal distribution of income of all developed nations. • The U.S. ranks 64th in the world on income inequality (i.e.‚ 63 nations are more equal than the U.S.) • The top 1% holds more than 35% of the nation’s overall wealth‚ while the bottom 50% controls 2.5%. • The richest 400 Americans have more wealth than the bottom 150 million Americans combined. • In 1970‚ the
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Thus began the 25 years of market-oriented reform in the country . The objective was rapid economic growth which unfortunately came at the expense of social inequality. The former socialist system was alien to social stratification apart from the one determined by the party membership. In that regard up until very recently the social inequality was not recognized as a problem that could even impede the attempts at growth. The Annual Growth rate of GDP in China The Inward FDI to China The
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be maximized. Bentham believed that the morality of an action was determined by how much overall utility resulted from that action. Following were philosophers like include John Stuart Mill and John Rawls who mentioned that utilitarianism was a moral theory that could be used to justify inequality. Utilitarianism however is perhaps the most efficient theory to approach normative ethics. This consequential theory is understood to hold that the right action will always produce the greatest good. It is
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Thomas Paine: the man who helped inspire a revolution‚ the man who wrote controversial pamphlets and rousing songs that kept soldiers fighting‚ the man who was once one of the greatest supporters of human rights‚ held in his heart the belief that the American government system was so flawlessly formed that there were no causes for discord. While Thomas Paine’s ideal may certainly have been correct in 1791‚ it no longer is. The American government system‚ and those who make it‚ are compromised. They
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He kills Duncan with fear of being cowardly and unmanly. He kills two servants for fear of being caught killing Duncan (Source 5). Other examples of murder motives come from pop culture‚ such as the cult classic Heathers. Jason Dean‚ a psychopath who uses his popular girlfriend Veronica to help him kill the bullies of Westerburg High‚ is afraid of Ram Sweeney and Heather Chandler of further bullying and ruining Veronica’s life. After the pair kills Sweeney‚ they also have to kill his best friend
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he immediately abhors and detests. Frankenstein believes he is responsible for the monster’s well being‚ however‚ he states that his duty to his fellow man was more important: “My duties towards the being of my own species had greater claims to my attention because they included a greater proportion of happiness or misery” (Shelly p.207). He ran from his home leaving the creature alone to fend for himself in the world of man. Those who see the beast immediately find hatred towards it and lash out
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I am 34 years old and I am still not sure how I economically or fiscally fit into society. I guess to put myself in a category I would need the definition of poverty‚ middle class‚ wealth‚ and inequality. There is a Webster’s Dictionary meaning for all those words but the true definitions vary depending on one’s place in society. I am clearly not wealthy or I would be laying on the beaches of the Cayman Islands right now. According to the State of Massachusetts poverty guidelines‚ I am not “poor
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reduce excess wealth by being charitable to highlight the issues of wealth inequality. He suggests that society can use the wealth from the upper class more responsibly than the state. In the article‚ he talks about his dislike of people using money irresponsibly on material things. He suggests when the upper class distribute their wealth‚ they should do it in a way the promote responsible spending. He talks about how there are two types of wealthy people. The people that gain their wealth through hard
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problems about income inequality. This country is filled with immigrants that are trying to use our government’s programs to provide for their families. It is inevitable to change the different amount of income people make. The problem is how those earnings are dispersed and where the money is actually going to. Today‚ there are many changes in American society that affect your income such as where you live‚ technological advancements‚ etc. Many questions arise when discussing income inequality. How can
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