Poverty and Economic Inequality: Current American Issues

Over the past few decades, America has been experiencing a lot of alterations. One of those changes involves the population growth of the country. The growth rate in America has been rapidly growing since 1950. Decreased death rate and an increase in average human age are some of the leading causes of increasing population. Population growth has tended to be more rapid, especially in lower-working class groups. However, social disengagement arising from growing inequality has not altered. 

The last dimension elevates the question ‘whether there is something concerning about economic inequality within itself that is uncertain independently of the reality that those at the lower edge of the income division are always poor, at least by the suitable nationwide measures.’ Everyone agrees that poverty is a critical social defect that condemns many people to lives that not solely lacks comfort and basic necessities but also dignity and respect that they would get if they were not in poverty. Imagine a community in which poverty has dropped so that everybody has sufficient to begin productive and fulfilling lives, however, during which there is still notable economic bias. Such society has never subsisted; however, if one occurred, ‘wouldn’t it be useful to adopt strategies to diminish economic inequality, and if so, how?’ If income inequality is pitching in, or at least not increasing, and if it has no critical consequences on discernment of social justice or economic and political systems, neglect in support of attempts to diminish poverty. If inequality is mounting, and it will have an effect on inherent social relationships, the relevant policy, acknowledgment would be to tackle both each economy and poverty.

Economic inequality might affect the growth of the economy, and, therefore, the economical use of resources like labor and capital. Some argue that countries with high levels of inequality experienced enormous economic growth. If true, this may suggest that efforts of lower economic inequality are costly because they reduce growth and prosperity. Studies show that over the past few decades, countries like Korea, France, Norway have a lot of income distributions and had showed higher economic performance compared to the United States. ‘Over the period 1960-2015, average annual French economic growth was 2.75%compared to 3.04% for U.S.’ However, the U.S. growth rate is rising solely because of the growing population: ‘1.03% compared to 0.65%in France.’ Apparently, per head, economic growth reflects an increase in productivity, serving as a better indicator of rising economic prosperity, highly influenced by the growth of the population.

A possible method of concluding whether economic disparity disrupts social measures concerning justice would constitute on the stated views of citizens themselves. While economists studied a typical unit of U.S residents on their opinions on income and economic inequality and their choices with regard, they discovered that ‘the wealthiest 20% of the population held about 59% of the total wealth’ while the original total through the course of the analysis comprised 84%. When presented a questionable prospect among the United States income distribution and a uniform dispersion (comparable to that of Sweden), 92% preferred the uniform distribution. Individuals considerably depreciate the size of inequality in worker benefit and, beyond their examples of countries, a substantial majority preferred more superior uniformity in the delivery of wages. Corresponding to different countries, they stated that there exists a higher forbearance for inequality in the United States. This conclusion denotes compatible by the survey outcomes on opinions approaching inequality in the United States, explaining that a majority considers that the economic arrangement is forbidden. Still, the traditionalists remain less liable to agree with the judgment than those toward the general left statement conclusions revealing that a significant dimension of Americans who believe that the wealth distributions are forbidden has endured over 60% since 1984. Eventually, a bulk of U.S residents continue their attempts to decrease these differences with the power of unique support concerning ideological attitudes and economic status predictably.  

To summarize, poverty and economic inequality are interlinked with one another. ‘Increasing income and economic inequality in recent years has triggered an overflow of analysis and speculation on the causes and consequences of those changes.’ Several rising differences between the distribution of income and wealth as a significant social impediment has seen in both academic and public deliberations. Whereas most of these scripts highlight the adverse consequences, others argue that income and economic inequality aren’t increasing considerably. If it is, then it’s a reasonable and natural outcome within the economy, during which rewards have distributed in keeping with differing contributions to economic output, in which people have diverging abilities and attitudes towards significant damage to the functioning of capitalist economies, that have bought large material edges throughout the world. But still, others claim that ‘considerations regarding economic inequality are disturbed, observing poverty as the real enigma.’