This shocking fact has raised a concern for the government to prevent the severe old age poverty. The situation of old age poverty of South Korea is at its worst. The old age poverty contributes the highest in the total population poverty. In 2000, the elderly poverty rate is 3 times higher than the non-elderly group (Lee & Lee, 2009). Also, income-poverty ratio is the highest in the household led by those aged 60 and above (World Bank, 2014).
The cost of living in Ireland is rising at a rapid rate and more people are falling into a poverty trap (Murphy et al 2008). Ireland’s economic situation is lacking signs of major improvement. Educational improvement and the general income growth are poverty reducing influences, however, inequality is the biggest increasing poverty issue. The Government has failed to defend the more susceptible in society. A double attack on unemployment and persistent cuts has pushed people, families and communities towards poverty.
Inequality is as bad for the rich as it is for the poor. Society is poorer as inequality becomes greater. (Friedman, 2011) The impacts of inequality shows up in poorer health, lower educational attainment, higher crime rates, lower spending of social capital, lower cooperation with and trust of government. (Friedman, 2011) On the other hand, inequality can also mean uneven distribution of wealth, which causes the poor to become even poorer. Poverty, hunger, homelessness, illiteracy, preventable disease, polluted air and water, and most of the other ills that beset humanity, have the same root cause: the inequitable distribution of planet’s wealth and resources.
This paper seeks to analyze the reasons of increasing the unemployment rate due to the overpopulation and non-educational as well as unemployment effects on economic and social sphere. Many factors cause the high unemployment rate over the years. our nation suffers from many issues in our community, unemployment is one of the most important problems that suffers the youth from it in our society. from one point of view there are many causes that’s lead to the unemployment. we found that the percentage of population is one of the main reasons of unemployment.
Economic inequality has become a major concern in almost every corner of the world, causing underprivileged people to be trapped in poverty with little to no chance to improve their socioeconomic status as a result of the uneven distribution of economic variables between different groups in society. According to the Organisation for Economic Co-operation and Development (OECD), the gap between the rich and poor in its member countries has widened over the past 30 years. The average income of the richest 10% of people was about nine times greater than the income of the poorest 10% before the onset of the global economic crisis. However, inequalities, which emerge in the job market are often established during education, thus, putting those at
The report also stated that the wealthiest ten percent of Indians earn twelve times as much money as the poorest 10 percent. ‘There is something profoundly wrong when the top one-tenth of one percent owns almost as much wealth as the bottom 90 percent’ (Sanders, B. 2014) This is a significant rise as in 1990 it was roughly six times. To put this lack of economic equality in perspective, Lars Osberg states that ‘The average per capita income in the United States is estimated to be 62 times greater than in India’ and that ‘The poorest people in India have incomes of no more than a quarter or a third of their extremely low national average’ (Osberg, L. 1991). This essay will look at economic inequality, what causes economic inequality and then impacts that economic inequality has in India.
A global wealth report released by Credit Suisse in October 2015 stated that Singapore’s mean wealth per adult (aged 20 and above) was $367,944. However, the median wealth per adult was $114,924. This gap between the median and the mean is one of the biggest among first-world countries, and hence implies that much of the wealth in Singapore is concentrated among the richest in Singapore. As such, socio-economic inequality is a true problem in Singapore. Firstly, inequality has adversely impacted social-economic mobility in Singapore.
UNEMPLOYMENT:- The foremost problem world is facing today is unemployment. The ratio of unemployment is increasing rapidly due to lack of sources and when unemployment takes place so many crimes are automatically be created. Pakistan the Asian country has plenty of problems in these days and unemployment is one of those. Unemployment causes numerous problems for people of nation. Pakistan has countless natural resources but problem is that resources are being wasted since the independence of Pakistan in 1947.
It is a well-known fact that unemployment represents one of the most important problems in the society worldwide. Specifically, it has become a worrisome subject in the European Union, due to the constant high rates of unemployment existing in most of its countries if we compare them with some other countries like Japan or even the United States, who presents low unemployment rates. But what does exactly unemployment means? Looking for a precise definition, we find that there is not a common meaning for this concept: it is a little bit ambiguous. On the one hand, many professionals in economy defines unemployment as the disposition of the people to be employed at a specific wage.
When the aggregate consumption falls the investment incentives for the investors also gets reduced. So as a result the national income or the Gross domestic products gets squeezed. We do possess an overloaded supply of human capital, but the quality of this factor of production is quite low that instead of getting benefits from it we are getting worse off. Moreover when a large percentage of youth remain unemployed it represents a situation of inefficient use of this