To conclude, the Great Depression wasn’t just a fail in the stock market, it was a combination of social and economic factors. Isolationism, made us overproduce and under consume, which resulted in a loss of jobs and money. Consumerism led people to buying expensive things that they don’t need and regretting it later. The Great Depression not only affected business but also everyday Americans. In all of American history, the Great Depression was the worst economic collapse that severely affected
There are people who work 40 hours a week and are still in poverty; this is a highly prominent issue.The uneven distribution of wealth, known as wealth inequality, is a problem that plagues not only America but also the world. With wealth inequality, there are two main issues and one solution to those issues. The problems are that the wealth in America is unevenly distributed and there people in America who work 40 hours a week and still have very little money. Wealth inequality is the root of all problems faced in America.The solution to this problem is to slightly raise the minimum wage so the lower class will be able to gain wealth. In America the difference of wealth between the top tenth of the one-percent and the other 99% is astounding.
3.1 How income inequality affect on people live in America. The income gap in America affects people, who live in this country. The issue has a strong impact in America’s society; in particular, the nutritional disparity between rich and poor people. In USA, the food gap becomes the top signal for the class distinction, but it used to be clothing or fashion. The food inequality in America is not only influencing the poverty, it is also cost hundreds of billions of dollar per year because of Non Communicable Diseases (NDCs) (Ferdman, 2014).
because of the gap between the rich and the poor. What needs to be taken into consideration to end income inequality is how people are being taxed and which type of people have their hands in the political process. Major impact on the social economic groups were being executed on the way the rich were gaining wealth, while the middle class are being discarded to lower class. Income inequality in America today should be regulated
The authors point is that the destructive relation between income inequality and happiness affects more poor people than rich people. (Oishi at al., p5). On one hand I agree with the authors on the fact that the poor are the first affected by the negative impact of the relation between income disparity and happiness, because the income disparity can create job and wage insecurity. In fact Job and wage insecurity is increasing, low-income families are rising along with the vulnerabilities that creates, guaranteed pensions are becoming a thing of the past, health benefits are tough, personal debt is greatly increasing, training are declining, and precarious employment are growing. On top of all that the political class is more self-centered and indifferent to the people.
This happened because motherhood is associated with wage penalty and lower wage gains later in a woman’s career. The delay in childbirth has helped narrow the pay gap a lot. Research shows that delaying childbirth by one year can increase a woman’s total career earnings and experience by 9 percent. While men continue to experience pay increases when they have children. Economists have long speculated that women with children work fewer hours and are more likely to take parental leave, also more recent research shows patterns of discrimination against women with children.
In the article “Confronting Inequality”, by Paul Krugman, he states that “vast income inequality inevitably brings vast social inequality in its train. And this social inequality isn’t just a matter of envy and insults.” (Krugman 563). Krugman is basically stating that the unfortunate is becoming poorer stressing day after day while the wealthy is becoming filthy rich having nothing to worry about. The widening gap is a serious issue because millions of families buy houses in nice neighborhoods they know they can’t afford due to themselves being so desperate to send their children to good schools. While it is reasonable to infer that this inequality gap has widened due to globalization or technological changes making the American population less competitive, we’re missing the real issue that with this gap being so wide as it currently is, there is not positive change being made.
It directly affects how much- or how little- her pension and social security payments will be. Getting old often means becoming poor- for many women and people of color” (Castro). The Wage Gap is not healthy and affects a woman’s financial stability in the future, especially now that many women are the sole providers for their family. The Gender Wage Gap does not only affect women but a country 's economy as a whole. In an interview with the Huffington Post, Heidi Hartmann advances the argument that eliminating this imbalance and equalizing pay between men and women could have a positive effect on the American economy.
As the rich gets richer because he is living a rich life and the poor gets poorer because he is living in poverty. Poverty has numerous causes and some of them are very basic. A few experts suggest that poverty is caused due to lack of sufficient employment opportunities and lack of sufficient food . The basic factors that may result in poverty are: insufficient education and employment opportunities, overpopulation, inability to meet standard of living and cost of living,certain economic and demographic drifts, the unequal distribution of assets in the worldwide economy, welfare incentives and environmental
As of 2015 women are only making between $0.76 and $0.80 for every dollar men are making. The pay gap does vary by each job, CNBC says “Of course, the pay gap varies greatly by industry. The disparity was largest — nearly 30 percent — between men and women in finance and insurance, without controlling for job title, education and years of experience, among other factors,” click here for link. As you can see women are clearly paid less than men of the same career and 83% of women believe that along with 68% of men who feel they are being paid more as well. In addition to this women have come forward and explained how they are paid less than men who are their co-hosts, co-workers,