Income Inequality in the United States and France - 648 Words

Income Inequality is â€Å"The unequal distribution of household or individual income across the various participants in an economy. Income inequality is often presented as the percentage of income to a percentage of population.† (Investopedia). Some believe income equality is the biggest problem of the 21st century, President Obama believes it to be â€Å"the defining challenge of our time† (white house). Some economist believe that increase inequality has a correlation effect with higher rates of health problems, social problems, that it harms economic growth, creates higher persistent unemployment and polarizes opportunity. Historically one can make the argument that other advance nations who have collapsed, have had great inequality and economic stratification. Other economist argue that true ‘equality’ is impossible because people have different skills and abilities. Income inequality natural and a benefit because I creates incentive to work harder. It ’s important to understand the effects of income inequality on a nation’s society and labor force. What type of problems income inequality could cause or doesn’t cause. This essay will give a comparative study of Income inequality in the United States of America and France, and how it effects labor and economic activity. Renowned economist Simon Kuznets said â€Å"that as emerging economies grew, inequality grew as well, as the few with high-asset endowments—landowners, for instance—profit from their ownership of productive resources.Show MoreRelatedThe Health System As A Social Insurance System Essay915 Words   |  4 Pages France is a European country with a population of approximately 66 million, which makes it the second most populated country in Europe (Chevreul, Berg Brigham, Durand-Zaleski, Hernà ¡ndez-Quevedo, 2015). The average life expectancy at birth for the country is 82 years. Cancer and cardiovascular disease are among the top causes of death in France (World Health Organization, 2015). Smoking and alcohol are the main causes of avoidable mortality. Overall, the level of health in the FrenchRead MoreOccupy Wall Street: Positive Impact of the Protest Movement in USA1235 Words   |  5 PagesOccupy Wall Street Occupy wall Street is a protest movement in the United States of America which began on September 17, 2011 in Zuccotti Park, located in New York Citys wall street financial district. This group was initiated by a Canadian activist and it has led to occupy protests and movements around the world. The Occupy Wall Street movement began as a collective expression due to the current economic conditions in the United States of America. Occupy Wall Street has a slogan which is We are theRead MoreGap of Inequality Between Social Classes in the United States749 Words   |  3 PagesIn the article â€Å"Confronting Inequality†, Paul Krugman argues that the gap of inequality between social classes in the United States is growing because of self- interest. He cites a â€Å"movement conservative†, Irving Kristol, who claims income inequality is not important because there is social equality. Krugman uses Kristol’s statement as a starting position to state his own. Krugman describes the claim as being a â€Å"fantasy world† and not the â€Å"real America we live in† (Krugman 246). I agree with hisRead MoreEssay on Confronting Inequality732 Words   |  3 PagesConfronting Inequality In the article â€Å"Confronting Inequality† Paul Krugman compares the new millennia to the 1970’s and has many financial stats to back his theory of income inequality. He backs up his claims with facts and figures, but also gives his own solutions to these problems. Krugman states, â€Å" The ugliness of our politics is in large part a reflection of the inequality of our income distribution.† He states that in the 1960’s was that the governments was in place to sere the best interestsRead MoreDeveloping Countries s Basic Survival Issues918 Words   |  4 Pagesnation but when taken care of correctly, it can lengthen citizens lives, decrease crimes and improve relations with other nations. Developed countries like the united states have already figured this out and spend lots of time and money composing various public policies to form an economic system that is beneficial to the nation. In the united states, each president forms different economic polici es in hopes of maintaining a stable economic system. From increasing Taxes and using tax revenues to promoteRead MoreEconomic Inequality And Its Effects On Economic Growth1709 Words   |  7 Pagesâ€Å"The rich get richer, and the poor get poorer† is an aphorism elicited from the topic of economic inequality. Over the past decades, economic inequality has been rising and at an increasing rate, expanding the gap between the rich and the poor. The direct relationship between inequality and poverty has shown that while inequality increases, so too does poverty. Increased inequality is harmful for economic growth and its effects also bear social implications. Although there are arguments on theRead MoreThe Distribution of Wealth 1542 Words   |  6 Pagesof tax cuts for the rich took place. 42% of the entire financial wealth generated by the economy of the United States during the 21-year period went to the richest 1%. The Current Statistical Trends of the Wealth Inequality in the United States Before the onset of the 2007/2008 global financial crisis, the 10% richest Americans group owned 80% of entire financial assets in the United States. The top 20% richest Americans possessed 85% of the nation’s wealth meaning the bottom 80% of AmericansRead MoreGender And Race Income Inequality1473 Words   |  6 Pagesgap between the wealthy and everyone else. The United States is known as a melting pot and a country full of opportunities for all but it is also the place where upper class makes millions in an hour and the lower class only makes minimum wage. United States thrives on promoting everyone is created and treated equally but that happens not to be the case. Polls after polls shows a huge percentage of Americans biggest concern is the income inequality, the rich continue to get richer and the poor continueRead MoreThe United States And The American Revolution1707 Words   |  7 PagesEnglish Folklore and sparked radical revolutions in the United States and France. Even in modern America, the idea of all men are created equal† has been a point of contention in various topics ranging from race to riches. Though the United States might not be close to a rebellion scaled to the French Revolution, modern â€Å"Robin Hoods† have agitated the idea of pseudo-equality, by proposing higher taxes on the rich—even if those with a higher income stimulate the economy. Nevertheless, it is importantRead MoreChapter 14 Taught Me A Great Deal About World Stratification939 Words   |  4 Pagespowerful nations in the world stratification system. Our SSI text showed that the United States was included as a core nation, along with places like Japan, Germany, France, Canada and other nations. The core nations have â€Å"generally less income inequality compared with other nations† (pg. 430). I was not surprised to find out, as I read on, that this statement finished up by stating â€Å"with the exception of the United States†, e specially after looking at the poverty figures given to us in module 6, from