Cases of Economic Inequality - Essay Example

Introduction

The increased cases of economic inequality, the issue of socialism, and wealth-poverty lines have resulted in many development consequences in pursuit of economic growth, political and democratic stabilities, and social solidarity. These consequences include social health disruption, environmental degradation, and poor health outcomes. Poverty lines resulted from inequalities in income generation among different social classes of people are a major social problem that has not solved overages. There are, of course, ways in which economic inequalities could be addressed. However, it is still impossible for everyone to earn the same or close earnings regarding that different people do different income generation activities within the same social setting.

Economic inequality is an essential area of discussion. It should be thoroughly analyzed to ensure it is condensed for the world to eliminate extreme Poverty since the latter is an integral part of the economy. For instance, the logic behind poverty lines amongst a social setting is that people are different, and each of them will have a different hierarchy of values. Thus, nobody has the ability or the right to dedicate to what other people do to achieve the same economic status. In this piece of writing, I major on income inequalities amongst people of the same social setting, the poverty lines, and how socialism is related to income generation and allocation process through socio-economic positions based on gender and race. There is also a specific reason as to why extreme Poverty can be eliminated but not Poverty as a whole.

There has been a constant change in the personal distribution of income over time, which has resulted in an extreme discrepancy in income distribution. Only a portion of the population within the same setting gets the largest share of the income generated. Income disparity varies depending on different divisions of people, including gender, occupation, race, or geographical location. Poverty addressed herein refers to the inability of a person to exist in a socially accepted level about resources. A country’s poverty level will be measured in terms of the fraction of people with an income below a scale that determines a person’s prosperity. The range a country will use to measure its poverty level may vary and may include the cost of food or the purchasing power of the country’s currency.

Socialism, concerning economic inequality, has been addressed by Rosseau As the way towards living a morally balanced lifestyle, thus, it is thought to be far before the invention of agriculture, property, and laws safeguarding individual property rights. The equality was regardless of gender or the color of the skin but through the states' creation. It was the responsibility of everyone to give a helping hand to those in need, and it was not about “I," but instead "we." Today, everyone is concerned with personal prosperity, and hence labor has become part of the success stories. Other people started enslaving others to work for them. This saw the development of local authority and politics; hence economic inequality has been socially constructed and is not a natural aspect.

Economic inequality has taken three significant categories: income disparity, income distribution, and income inequality. A case analysis based on the United States showed that those who are poor continue to be more impoverished while the rich become even more productive. Between the years 1963 to 2016, It was found out that 10% of the needy members of the society went from having no assets to being in debt amounting to up to 1000 US dollars. On the other hand, the middle-class families doubled their income while the top 1% most wealthy made more than seven times their initial wealth. The income distribution of the United States households as of the fourth quarter of the year 2019, 1% of the total households received 33% of the overall distribution of the income, 10% of the households received 37% of the delivery, 40% received 28% and the remaining 50% who are regarded the poorest got only 1% of the income.

Work has been identified by Bose Feler as a responsibility by man to end Poverty. Quoting from 1st Timothy 5: 8, he warns against people who do not support their relatives or households. He says such people have denied Christ's faith and, hence, are worse than non-believers. Due to such conditions, Christians have put in efforts, some of which have caused them many troubles. Therefore, Christians need to master the solid biblical and economic understanding of ways to care for people in need of their help to bring economic development. Christians need to restructure their focus on matters trade and the markets to serve the poor and those facing severe financial problems. Christians need to focus on causes of Poverty, including oppressing the minorities, moral failure, external calamities, and foolishness.

There is a need to end additional aid funds to third world countries so that they work to achieve the optimum as well with emergency funds been an exception, open-ended entitlement, and the redistribution of wealth. The focus to bring about economic equality is the improvement of infrastructure, which may help in job creation. For instance, the right roads will attract investors to set up industries that may require human resources. In “For the Least of These," it is through the transformational power of the bible that Christians shun from social injustices that bring about economic inequality. A Christian can not oppress his workers nor discriminate in terms of gender or race when it comes to salary allocation. That means economic fairness is achieved, giving everyone a chance to meet what other people have made is the best way to attain economic justice.

According to Dr. Belcher, people from low social classes often consider their bodily needs and have no sense of the future; thus, they prioritize useless things overwork. The rich, on the other hand, are regarded to be having a low time preference. They believe that they will be deceiving themselves if they allowed gratification of their impulses such as sex or violence interfering with their future. Regarding biblical approaches cites in text, Christians may end up losing the point in the name of alleviating Poverty to create employment. An example is given for this case if a newspaper salesperson who focuses on selling his products at a relatively high profit and does not receive money from anyone who doesn’t buy the newspaper now one who gives extra cash for the cash. Another example is a Christian hiring someone to do a job himself can do. The two are not the best ways to eliminate Poverty nor bringing economic equality but rather a silly way of solving the problem. In James 2: 15, Christians are advised to help their neighbors, which is good, but in a context where Christians are a handful, it would be impossible lest the government decides to do that.

Lastly, income inequality can be addressed through loaning. In the bible, Leviticus 25, Poverty can be eliminated by leasing others, giving them loans, and enslavement. A debtor is encouraged to work for them to pay off their loans, but if not able to pay, the loaner was advised to forgive them. Extreme cases of failure to pay debts were selling off oneself as a voluntary servitude to pay their debts. Some of these suggestions towards achieving income equality are against the land laws and may not be helpful. Just as it is in Deuteronomy15:4, Poverty can be eradicated by God alone, and that is if he blesses the area we live in.

Conclusion

The biblical definition of a poor person is one who has no food, clothes, or shelter. Therefore, it is our Christian duty to follow the guidelines given in ensuring we help out those in their extreme want. The governments need not offer charity help to its citizens every time but rather should be at the forefront to give them loans and improve the infrastructure, which may, in return, help to create employment. Aid in the form of physical goods is less helpful since it solves only short-term relief but still counters the economic inequality, which is a gateway to long-term Poverty.