Income Inequality Term Paper:
Income inequality is the phenomenon which is connected with the unfair distribution of the resources in the society. Income inequality has been bothering people for long, because it causes the problems of poverty and the related issues. The world is divided into the rich and the poor and it is obvious that the quantity of the poor is in the serious majority. No more than 1/6 of planet’s population can agree to the fact that they are satisfied with their life, while the latter 5/6 are close to poverty and work for the richness of the minority. In the narrower meaning income inequality can be met in the boarders of a single company where the executives take the maximum profit from the production and the employees of the lower level have to receive their low wages. Income inequality depends on the problems of income distribution and wealth inequality. The whole process of production and the structure of the economic system creates its own model of wealth distribution.
In the capitalist countries which exist in the constant competition one can not speak about income equality, because everyone receives as much money as we earned. The communist approach towards the problem is different, because the income is distributed equally no matter how much have the employees worked. On practice this approach is a complete failure, because one will never work more for the same salary as the lazy employee receives. Income inequality is a complicated problem which can be researched from various points of view but its general aspects and principles depend on the economic system where the person exists.
Income inequality is the problem which quite useful for the research for every student who wants to become an expert in economic issues. The young professional is supposed to dwell on the explanation of the problem from the point of view of various economic systems, write about the cause and effect of income inequality, the related problems which can be called the factors causing the inequality, etc. One can analyze the current condition n the world and analyze the economic systems from the professional side. The student should complete an interesting and informative objective term paper that would reflect his knowledge and experience.
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