In the story “The Upside of Income Inequality”, Gary S. Becker and Kevin M. Murphy effectively express’s the importance and need for income inequality in our society. Furthermore, Holly Ellyatt’s newspaper article Income Inequality: Is It Good For Everyone? serves to also point out that economic success and greater productivity is linked to “income inequality”. Although it may seem extremely unfair for someone to make up to two hundred and fifty times as much money as someone else, this notion of “income inequality” actually benefits the society as a whole by encouraging others to work much harder in life and better themselves and their education. For example, the increase of income inequality in the 1980’s greatly increased the education for both women and men and other races such as African Americans.
If you keep the minimum wage at $7.25 people will stay in poverty and homeless or on the verge of homelessness. A person working full time at the federal minimum wage of $7.25 per hour earns $15,080 in a year, which is 20% higher than the 2015 federal poverty level of $12,331 for a one-person household under 65 years of age, but 8% below the 2015 federal poverty level of $16,337 for a single-parent family with a child under 18 years of age (procon.org pro#2). If you put the minimum wage at $9.00, people will be able to live comfortably without unemployment rates going up. However, raising the minimum wage
In the article by she emphasizes the need for parental leave by saying, “Paid parental leave would also help keep families afloat financially as they adjust to the financial burden of a newborn. It would also help reduce child care costs, an expense that can actually exceed the cost of college.”(Elizabeth Strassner). The quote is
Millennials are a generation of people born between the early 1980s and the early 2000s. Specifically 1982-2000, and if you think baby boomer’s parents procreated at a high rate well they taught their offspring to do much of the same. Millennials are now 18-36 years of age and comprise of twenty-four percent of the US population, but that 's about the only similarity between the baby boomers and the millennials. Other than the sheer size of the two groups millennials are becoming a generation that the United States couldn 't make up if they tried. Only twenty-one percent of millennials are married while forty-two percent of baby boomers were married at the same age, almost one out of every four millennials have a bachelor degree or higher making them the most educated generation ever seen.
Until men are raising children as much as women are women won 't be able to equal in the workplace and we are so behind as a nation, in terms of flexible work patterns and parental leave(Gloria Steinem).The us does not provide paid parental control and is behind as a nation paid parental control is when women get paid a portion of their check from work when they leave work to take care of a newborn child.Paid parental leave should be a state requirement to all countries and every woman should at least get 50% of their paycheck. The economy can grow in many ways and eventually catch up to other countries,new parents financially can be jovial returning to the workspace. New parents intuitively are more likely to return to the workspace after taking paid maternity in this instance the economy overall receives a productivity boost from paid parental leave policies.the economy in years will grow stronger because these women will work harder and drive in more income so paid parental control is well indeed needed in the us. A study from Rutgers university states that women are 39 percent less likely to receive public assistance and 40 percent less likely to receive food stamps
In the presence of a free health service helps to boost the economy nation which is a lots of people will raise the standard of living by increase the economic productivity. People will contribute in the economy sector very well if they are healthy. From the source that I get, according to House research Department Universal Health Coverage an Economist Perspective 2007 the author says, health care costs may prevent some individuals from working or seeking higher earnings. Working harder to increase earnings may result in losing their subsidized coverage or having to pay more in premiums. So, the free healthcare for everyone will raise the standard which is can lead more to economic
These results show there is a positive relationship between gender and firm performance, but a side note that should be made is that the women should have a high education, since women without a university degree tend to have less impact on firm performance. Carter, Simpkins and Simpson were also one of the first researchers to find a positive relationship between gender diversity and firm performance for the fortune 1000 firms (Carter, Simkins, & Simpson, 2003). They used older conducted research to form a base for their research, which had mixed outcomes. Some researchers conclude a positive relationship,
Of workers and retirees, 28% reported no confidence that they will have enough money to retire in comfort, the highest level of concern in the 23-year history of the EBRI study. Only 66% of Americans report having any retirement savings, compared to 75% of workers in 2009. Only 50% of Americans say
As the years fly by, it seems as if a push towards gender equality grows larger and larger. This can be thanks to the active members of society, but capitalism as well should get a pat on the shoulder. More and more companies attempt to hire female workers so they don’t seem so male oriented. And this effort in fact works. According to Reihan Salam, an author for Forbes, one consequence of the high demand of female labor is “that male wage growth has been relatively restrained since the 1970s just as women’s wages have increased dramatically from a low starting point” (Salam).
More specifically, gender inequality in education and employment reduce economic growth (Klasen 2003, 3). This explicitly came forward when assessing Morocco’s economy in the earlier mentioned IMF report, looking at the relationship between gender inequality and growth, and found that better integration of women into the economy could substantially positively influence the country’s growth: if there were as many women working as men currently are in Morocco, income per capita would increase by 150 percent (IMF 2017). Regarding Morocco in this context, it seems to be the case that indeed, inequality – in this case gender inequality- does indeed hinder the country’s (economic) growth. In relation to globalisation and its processes that result in a more integrated world, gender equality takes significant costs. A main aspect of globalisation is international trade, which generally, increases welfare (Beugelsdijk et al.