What Is Wealth Disparity - 1291 Words

What exactly is wealth disparity? And why does it matter? The website inequality.org is a fascinating website full of statistics on this topic and provides data by analyzing whether policies instituted help, or hurt this problem. They define wealth inequality as â€Å"the unequal distribution of assets within a population. The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation† (inequality.org, 2017, para. 1). Using terms such as distribution of assets would give the idea that we live in a socialistic economy. This word seems to be Taboo in America, but people don’t realize that we are very close to this concept. It is just hidden better. There are many reasons that this†¦show more content†¦I will use the information from this site to supplement many statements throughout the essay. This site does not specify why the gap is wideing or offer any solutions, but adds that element of facts that wil l be difficult to debate. Annotation 2: McKernan, S., Ratcliffe, C. Steuerle, E., Zhang, S., (2014). American Economic Review, v. 104, iss. 5, pp. 240-44 This article focuses on the great depression and how it affected the income and wealth of Americans. Many good points are being made like history showing that societies generally became richer than previous ones, and accumulate more wealth. Unfortunately, this trend has not continued the past few decades, at least for the middle class and below. A variable that will be used in the essay is race in comparison to one another. Has the same level of disparity occurred in whites as in minority groups? Luckily, this article provides some interesting facts and viewpoints on this subject. Another element that is introduced is advanced statistical formulas such as regression analysis and the use of coefficients to provide hard data that is free from human bias. This brief article complements the others in showing how specific groups were affected by wealth inequality instead of making a generalized statement. It is good to pinpointShow MoreRelatedThe Effect Of Macroeconomic Shifts On The Ridge Tool Company Essay982 Words   |  4 Pagesthe short term. We will be examining the effect of macroeconomic shifts on the Ridge Tool Company, a subsidiary of Emerson Electric. Being that Ridge tool is a manufacturing firm, the macroeconomic variables that have the most impact are consumer wealth, resource costs and expectations. First the variables will be defined, then they will be analyzed using a historic perspective against ridge tool’s financial statements, and finally, we will be comparing to prior research to note any similaritiesRead MoreThe United States The Criminal Justice System856 Words   |  4 Pagespeople, whether this is intentional or not is beside the point. The important thing is to change the criminal justice system in o rder to stop race disparities. Marc Mauer in his lecture speaks of the reason for the disparity between races when it comes to the incarceration rate, as well as steps that can be taken in order to elevate, and or stop the disparity in the criminal justice system. Other topics that Mauer covers are the impact that policies can have on a specific group in the United States,Read MoreMeasuring Racial And Ethnic Inequality1508 Words   |  7 PagesInterpreting Social Science Data, â€Å"Numbers never speak for themselves.† Klass’s purpose for this chapter is to demonstrate the range of data that is derived from social indicators and that can be used to analyze racial and ethnic disparities in different spheres such as income and wealth, health, education, and criminal justice. After summarizing the content covered in the chapter, Klass’s methodology and findings can be discussed and evaluated. Klass introduces the chapter by telling a brief anecdote aboutRead MoreEconomic Inequality And Its Effects On Economic Growth1709 Words   |  7 Pagesimplications. Although there are arguments on the consequences of wealth redistribution and its unintended impact on economic growth, wealth should be redistributed to reduce inequality and poverty, sequentially leading to more economic development and a higher standard of living for society. Economic inequality occurs in two forms: income inequality and wealth inequality. There remains a dispute between whether income inequality or wealth inequality should be the focus to reducing economic inequalityRead MoreAmerican Capitalism And The Economic System1324 Words   |  6 Pages Wealthy disparity in America is greater than it has ever been, yet nothing seems to be done by the government to fix it. Bridging the wealth gap in America would require government regulation from government, but the American government is controlled by the wealthy. Rich business owners give large sums of money towards political campaigns, thus gaining them political favor. Along with a corrupted government, large corporations have taken up almost all market share in their respective industriesRead MoreThe American Dream1560 Words   |  7 Pagesgroup of wealth owners in the country, and aimed for equality. The media even started to show the inequality between the 1 percent-ers and the rest of th e population. The gap between the mega-rich and the rest clearly exists, but people rarely talk about the gap between gender, races, and all the inequalities at all levels of wealth. It is important to understand that a wealth gap does exist between the rich and everyone else but also to see that inequality is prevalent at all levels of wealth or understandRead MoreThe Election Of Obama Into The Highest Political Office1728 Words   |  7 Pagesgroups and manifests in severe inequalities particularly spurred on by capitalism. Capitalism refers to an economic system whereby ownership of as well as investment in the means of production is made by private corporations or individuals to whom wealth accrues since they own the means of production. Society morphed from the feudal system to a bourgeois one that did not eliminate class antagonisms (Marx and Engels para 8). Instead, â€Å"it has but established new classes, new conditions of oppressionRead MoreAffirmative Action Is Not Necessary1511 Words   |  7 Pagesand employment disparity between the white and the minorities in the United States, but its implementation needs to be renovated. Affirmative action in education at a college level has been an issue that has sparked a lot of debates over the use of race as a criteria for admission into a college, but for affirmative action to truly but relevant in today’s world. It needs to be implemented from the ground up or from public education system in order to overcome the educational disparity that exists atRead MoreEssay on Analysis of YouTube Video Wealth Inequality in America647 Words   |  3 PagesWealth inequality; its not a topic many people would choose to make a YouTube video about. However, earlier this year a video regarding this very topic went viral and received over 12 million views on YouTube. It is titled, Wealth Inequality in America, which was produced by the YouTube user Politizane. The issue of wealth inequality across the United States is well known, but this video shows you the magnitude of the disproportion in intense and illustrative manner. It uses charts to explain inRead MoreKarl Marx and Capitalism Essay880 Words   |  4 Pages Capitalism dominates the world today. Known as a system to create wealth, capitalism’s main purpose is to increase profits through land, labor and free market. It is a replacement of feudalism and slavery. It promises to provide equality and increases living standards through equal exchanges, technological innovations and mass productions. However, taking a look at the global economy today, one can clearly see the disparity between developed and developing countries, and the persistence of poverty