I've Attached The File – Essay Example
Introduction The structure of many world economies is generally characterised by disparity in income distribution. Basically, unequal income distribution in an economy results in high poverty levels and poor living conditions for majority of the citizens. Income inequality has been on an increasing trend in America and other developed nations from the early 1970s (Yu and Slottje 101). The inequality is more evident in areas occupied by African-Americans. In fact, the menace of income inequality is higher in the United States than other wealthy nations. The major contributor of this unhealthy economic trend is projected to be US reinforcement of free market capitalism. Income inequality is associated with several evils such as increased crime rates, poor health, poor housing, low quality education and many others. Income inequality has numerous impacts ranging socio-economic to political
Social impacts of income inequality
Some scholars argue that disparities in income distribution contribute to social strife, health challenges and racial conflicts. For instance, people with low incomes (the bulk of the population) cannot afford quality healthcare because it is either too expensive or in accessible. In most instances, the best health care facilities and services are reserved for the rich in the community. Income distribution disparities have promoted the emergence and development of social classes across America which has widened the trench between the wealthy and the poor further (Yu and Slottje 118). In fact, the lower class people have been enslaved by the royal families through paying heavy taxes and providing cheap labor. When assessed critically, it can be seen that America is not comprehensively a land of opportunities as perceived by people from other countries. Essentially the living condition of some American residents, especially in cities and big towns render the perception that there are endless opportunities in America a mere stereotype. Some people from other nation who flock America in search of decent lifestyles end up being dissatisfied by the real experience they go through.
Education is yet another sector that has been adversely affected by the problem of income inequality in the United States. Children of the less advantaged families especially the African- America hardly have access to quality education. Institutions offering quality education are generally expensive and can only be accessed by children from wealthy families. This situation affects the intergenerational mobility between the poor and the wealthy generation. In fact, intergenerational mobility is high in wealthy families than from less fortuned families. This basically means that there is little that children from poor families can inherit from their parents.
Research has showed that raising income inequality contributes to increase in crime rate. In fact, some people especially poor youths decide to propel their lives in whatever means possible including robbery and theft. As a result, this has the consequence of raising security threats and other evils as people strive to make ends meet.
Yu, Hyang-gŭn and Slottje, Daniel. Measuring trends in US income inequality: theory and applications. Berlin [u.a.] : Springer, 1998. Print.