Income inequality research paper

income inequality in india essay

Globalization frames industrial revolution and international trade. Those who are rich or poor in the United States of America should not all live equal lives. If rapid growth is accomplished at the expense of misdistribution of resources, then it will create social tensions or class warfare.

The first measurement for the income inequality in a country is to look at the percentages on households and group them into income categories, called distribution by income category.

The study used data from and for those receiving wage incomes from the large sample NSSO employment surveys conducted in those years.

Income inequality research paper

Economists generally categorise these metrics in wealth, income and consumption. The labor markets actually create inequalities of income and as a result create issues leading to poverty. Most Americans hope to find some way to make a living that they enjoy, something that they view as productive. Others, who are not that optimistic, argue that the income inequality leads to a growing level of inequality of opportunity. Famous economist Milton Friedman argues that this inequality gap would eventually spur people to work harder and boost productivity. In order for there to be income, there has to be several sources of income. Income inequality, also known as economic inequality or wealth and income differences typically refers to inequality among individuals and society, but it can also refer to disparity among countries. This is because income inequality and wealth concentration can hinder or delay long term growth. The American dream that everyone is equal and has equal opportunities. The recession in did not help to reduce the gap between the two either.

The literature poses a variety of problems for society and individuals affected by various disparities. Income is defined as money that an individual or business receives in exchange for providing a good or service or through investing capital, while wealth is a measure of the value of all of the assets of worth owned by a person, community, company or country.

Income inequality is the gap between how much money is made by the rich and everyone else in the nation.

causes of income inequality

Like many working Americans, I never took the time to think about how income inequality affected us and how immense it has become. The purpose of the report is to evaluate the significance of these effects, discuss why this inequality is a critical issue and suggest possible solutions to reduce the negative impacts on society.

income inequality thesis statement

But wealth is the amount of stuff you own: your house, your car, savings, retirement accounts, etc.

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Research on Economic Inequality