China's Inequality

It is a commonly accepted that inequality is increasing throughout the globe, with startling statistics such as the recent Oxfam report indicating that the richest 85 people in the world own more wealth than the poorest 3.5 billion people(Oxfam Australia Media, 2014). Inequality is thought of as disparities or gaps, such as the distance between a low income and a high income household, or the ratio of their incomes (Divided We Stand, 2011). Domestic inequality refers to inequality within a country and

The American Revolution did much more than any of our founding fathers had ever imagined, it started a movement that would threaten the very roots of colonialism across the globe. Setting an example of how a David could overcome a Goliath, the United States inspired regions such as Latin America to fight for their rights and liberties as well. One such region that embraced the message was Upper Peru, which would later be known as Bolivia. With some key tipping points that caused the war, the leaders of the soon to be formed nation rallied its troops and won several major battles, but even they couldn’t prevent the tough times that lay in the early years of the nation. From the year 1809, Upper Peru was engaged in a

I am writing this letter to share some insight on to your publication of “Fixing Kids’ sports.” Although there are some parts that I do agree with there is however there are large parts that I don’t. Throughout this article the author highlights some major truths about children playing sports, and they have statistical fact that back up their argument that children’s sports are too harsh and they took action to put a stop to unnecessary behavior. From personal experience, this article makes good points as to some of the reality of sports as a child but not entirety.

In reality, it is not the economy, but how the economy’s rules are set up that determines who benefits from the wealth generated. For instance, any one of the ten wealthiest individuals in America made enough money in 2012 to pay the cost of individual housing for every homeless person in America for an entire year. Upon comparing 141 different countries, the United States ranked 4th-highest in wealth inequality, with only Ukraine, Lebanon and Russia having a more polar distribution of wealth. These statistics would not present a problem if only Americans could work their way up the socioeconomic ladder. Despite their efforts, however, much of the data shows that upward mobility is improbable if not impossible in many cases.

No country in this globe can escape from wealth inequality. Never and ever. Even, America – The land of opportunity and the first economy of the world. While the nation is striving towards achieving its dream, it is faced with the problem of wealth gap among the low, middle, and upper classes of the society. Wealth inequality is a phenomenon or a social event of the difference in money and other assets which individuals can accumulate. For some people, no more land of opportunity and the existing wealth gap is a result of unequal opportunity. However, I and others argue the nation is still a land of opportunity, but with some challenges to overcome. Furthermore, I and some firmly believe that the wealthiest people at the top are the achievers

Furthermore, when analyzing the different classes, and the distributions of wealth and income in the United Sates; for instance, the upper, middle, and lower classes – it is an astronomical amount of wealth that the top 1 percent acquire. It is also noted by Johnson & Rhodes (2015), “that income and wage inequality have risen sharply over the last thirty years” (pg. 228). Equally important to this, is how the average change in income is divided in Americas quintiles and the widening gaps. For example, in Table 5.2, while the lowest fifth quintile increased from $11,128 to $11,361 – a difference of $233.00 from years 2006 to 2012; the highest quintile increased from $289,446 to $319,918 – an exponential increase of $30,472 (pg. 229). With income inequalities at this rate, it is difficult for the majority of the United States to experience upward social mobility. Pursuing this further, in a line stated by Johnson and Rhodes (2015), “The wealthiest Americans can live on the dividends from their investments without having to touch the principle or work for a salary” (pg. 230). From this, it is visible to see how society has compartmentalized different levels of functions to keep a so called balance for the greater

When it comes to the wealth gap in America, let us just say there are several forces in play. One of them is the free market that reaches around the globe. In includes the free markets and this leaves the widen gap between those that have or those that do not have. While 2% of the world's children live in America and enjoy 50% of the world's playthings and games. Compared to children in Nigeria are apart of the workforces this countries, and there are other countries that share in child labor. Although, the U.S. is among the few develop markets, the income gap between the lower and the upper levels of society has expanded. In America a CEO was paid 40 times more than the average worker in 1980. Our society, do accept a much greater inequality than many other countries do. There is more than enough data that shows the widening inequality, this information serves as an incentive for improving an accurate picture of capitalism. (Peng, M. (2012). GLOBAL, 2e, 2nd Edition)

One of the most controversial issue facing our world regarding why some countries are wealthier than others. It is astonishing that in this modern era, there are some families unable to provide food, educational opportunities and medical care as well as simple day to day basic necessities. According to the World Bank, more than one fifth of the world’s population live under less than one or two dollar a day. The per capita income in the highest countries is more than sixty times the per capita income of the lowest income countries. While most developing countries struggle with low national income yet other nations like China, U.S and many Western countries are thriving with one of the highest national income rates in the world. There are several perspectives on this issue and there is not only one solution to the problem. For the purpose of my argument I will focus on the foundations in which these countries were created upon.

The trade-off between economic growth and redistribution has become one of the major notes concerning the emerging economies of post-Cold War world. Adding to this struggle the urge to integrate into the international system while keeping the balances right at home has been another macro-level concern. In conjunction such liabilities not only necessitates the examination of fiscal and structural reforms but also the international trends as well within an historical framing. For that matter the case of China is fascinating in terms of blending these elements of economic and political changes in the last 30 years. However this attempt is not without a cost. This paper aims to

In today’s capitalist economy, where economic transactions and business in general is centered on self-interest, there is a natural tendency for some people to make more than others. That is the basis for the “American Dream,” where people, if they worked hard, could make money proportional to their effort. However, what happens when this natural occurrence grows disproportional in its allocation of wealth within a society? The resulting issue becomes income inequality. Where a small portion of the population, own the majority of the wealth and the majority of the population own only a fraction of what the rich own. This prominent issue has always been the subject of social tension

The highest earning fifth of U.S. families earned 59.1% of all income, while the richest earned 88.9% of all wealth. A big gap between the rich and poor is often associated with low social mobility, which contradicts the American ideal of equal opportunity. Levels of income inequality are higher than they have been in almost a century, the top one percent has a share of the national income of over 20 percent (Wilhelm). There are a variety of factors that influence income inequality, a few of which will be discussed in this paper. Rising income inequality is caused by differences in life expectancy, rapidly increases in the incomes of the top 5 percent, social trends, and shifts in the global economy.

“The richest 1% of adults in the world own 40% of the planet's wealth, according to the largest study yet of wealth distribution. The report also finds that those in financial services and the internet sectors predominate among the super

In “Introduction”, author Branko Milanovic looks at “both income inequality and political issues related to inequality from a global perspective” (1). He says it is time to look at income inequality as a global phenomenon instead of as a national one (Milanovic, 2). Reasons for this include: learning about the ways people outside this country live their lives can serve pragmatic purposes, such as learning better and more efficient ways to do things, we now have the ability to focus on global inequality with the data now available, and the most important reason is that the study of global inequality allows people to see how the world has changed (Milanovic, 2). Milanovic then goes on to consider global inequality as a whole (6). He argues that

In this section, we will expound on some of the gaps, dynamics and limitations that influence if not intensify the adverse impacts of staggering wealth inequality and we opine that these are crucial aspects to be addressed urgently in order to mitigate the impacts of global wealth inequality in our contemporary era.

Hong Kong has been emerging as a major financial center for the Asian-Pacific region since around 1970(Jao, 1979). However, wealth gap and income inequality is always a criticized issue. According to Hong Kong Government Fact Sheet document, Gini coefficient, which is a common figure using on the measurement of household income, increase by 0.004 from 0.533 in 2006 to 0.537 in 2011. Oxfam Hong Kong reported that in Hong Kong, the richest 10% who earn a HK$100,000 median monthly income gains nearly 29 times than the poorest 10% gain per month, while the same comparison result in 2013 is 26 times and 26.4 times in 2014. Bloomberg Billionaires Index also shows that the top 10 billionaires are now having aggregate net worth equivalent to 35