One example of inequality in the US is black-white income inequality which still exists in the US. The income difference between median households of white and black has increased from $19,000 in 1967 to $27,000 in 2011. The average black household income composed 59% of average white household income in 2011, these percentage was equal to 55% and 63% in 1967 and 2007, respectively (Desilver, 2014). If discrimination because of skin color will be continued they will harm economy in some way because if these people will not have jobs they will increase the proportion of unemployed people in the country. The unemployment rate of black is two times greater than unemployment rate of white (Fields and Weller, 2011).
Rising income inequality is considered as a global issue. Over the last ten years, median household income has declined in many advanced economies that resulting median household easily trapped in the risk of falling into poverty. Based on the research, we found that the average income of the richest 10% of the population is higher nine times higher than that of the poorest 10%. After 20 years, some countries have developed the advanced technology to improve the productivity of 30% in industries sector. However, there would also 50% worker will encounter the risk of displaced.
Multiple studies have shown that there is a significant increase in economic inequality over the last 25 years in several regions in the world. Economic inequality is a measurement of the income distribution that puts emphasis on the gap between the incomes of a household or an individual in a certain country. The distribution of income and wealth has become increasingly unequal since 1970 (Morris and Western, 1999). Between 2003 and 2013, income inequality even grew in well developed countries such as Germany, Denmark and Sweden. The top ten percent of earners raced ahead, while the bottom ten percent fell further behind.
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).
They sought to counter the sharp global recession brought about by the huge increase in the price of oil(which went from $3 to $12 per barrel) ,that resulted from the first oil crisis in 1973, by implementing an aggressive fiscal expansion policy which resulted in increasing budgetary deficits year on year and taking on an unsustainable amount of national debt .For example the ratio of government debt to GDP rose from 52% in 1973 to 129% by 1987,which was the highest in the EU.Hence Ireland lacked the ingredient’s necessary for continued steady economic growth. These negative conditions continued right up until the late
Global income inequality: When compared to other nations, the U.S. is one of the richest despite the severe income gap among its own citizens. Although many U.S. citizens are classified as low-income, their wages are still a great deal higher than citizens from poorer countries. Most of the world’s top 1% live in the U.S., increasing the overall national average income. Global inequality is also seeing a decline as developing nations develop and become industrialized. In spite of growing populations, especially in underdeveloped countries, the economic growth brought on by industrialization has helped many families escape living in poverty.
87). The United States has the highest number of prison population worldwide, having more than China, which has the largest population in the world. The prison populations in the united stated had drastically increase in a short period of time. It may have to do with the broken windows policy put in place around that time that targeted minorities. Anyways the prison population should had lower by now.
Today the worlds population is growing at 1.15% per year which is 80500000 people annually. Some of the most populated countries of today are India,China,Russia,Brazil and South Africa these countries are also known as the BRIC nations. Population growth does increase demand nevertheless it also volleys workforces with a lot of extra workers, this unfortunately pauperizes wages and increases poverty. It is impossible to see a correlation between population growth and development in 2 or 3 years, In order to see an correlation we have to look about 20 years back so that we can distinguish the impact of all those births entering workforces. Rapid population growth still remains in numerous amount of developing countries.
dollar since 1983, came under speculative pressure because Hong Kong's inflation rate had been significantly higher than the United States' for years. Monetary authorities spent more than $1 billion to defend the local currency. Since Hong Kong had more than $80 billion in foreign reserves, which is equivalent to 700% of its M1 money supply and 45% of its M3 money supply, the Hong Kong Monetary Authority (effectively the city's central bank) managed to maintain the peg. Stock markets became more and more volatile; between 20 and 23 October the Hang Seng Index dropped 23%. The Hong Kong Monetary Authority (HKMA) then promised to protect the currency.
Foreign tourists often spend three times that of domestic travelers — an extraordinary investment in the U.S. economy. While the tourism industry has suffered in today’s rough economic climate, additional taxes, such as the one proposed under the Travel Promotion Act, threaten to exacerbate the challenges faced by the industry. The Travel Promotion Act of 2009 imposes a $10 fee on visitors coming from visa waiver countries. The money would be used to create marketing campaigns to help bring visitors