Topic > How economic inequality affects societies

Richard Wilkinson studied the social consequences of income inequality and how mixed factors affect happiness. It presents a large amount of experimental data, which shows that there are many more equal societies in developing countries. The income gap between rich and poor is smaller. Compared to societies with wider income gaps, they generally seem happier. Wilkinson once said: "Although I have always thought that an equal society should perform better in terms of social cohesion, I never expected to find such clear differences between existing market economies." This quote means that although depreciation has always been considered a predictor of social problems such as violence, overweight and teenage pregnancy, Wilkinson and Pickett emphasized that personal wealth has no link to community well-being. Those who have discovered that all types of societies are marked by the signs of depredation. Across the country mental health, life expectancy and addiction all created by different incomes. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay In the United States, for thirty years, the observed wealth gap between the rich and everyone else is now increasing significantly, by any statistical measure. Three statistics about inequality in the United States will be discussed below. In the article, Inequality.org states that “An estimated 40% of the total U.S. population (140 million people) is poor or low-income. That said, current poverty rates dwarf the number of people struggling to make ends meet in the richest country in the world. The Inequality.org article states: “Wall Street banks distributed $27.5 billion in bonuses to their 181,300 New York-based employees in 2018. That equates to more than two and a half times their combined earnings of all 640,000 fully employed Americans. time at the current federal minimum wage of $7.25 an hour.” This way, low-wage jobs have to spend every dollar they receive just to meet essential needs, which causes a beneficial ripple effect on the economy. For Wall Street workers, all profits made will be stored. In one article, a clever quote stated: “President Obama believes income inequality is one of the most pressing issues facing the nation. If we want to be a country that offers multiple opportunities and believes in a thriving middle class, then we need to raise the minimum wage.” This quote is very true and has a lot of meaning. Everyone wants the “American Dream,” as economic inequality is such a big thing that it is very difficult to achieve. I strongly believe that what is said in this quote the government should act and our country will see a tremendous change. The causes of income inequality are several factors including sexual orientation, gender identification, age and even ethnic origin which differ throughout the difference between the middle and upper classes. To demonstrate the varying degrees of income inequality, the population is divided to show the difference from one another. Some measures that can improve income inequality are reducing the wages of the richest and immediately increasing the wages of the poorest. The Washington Post's income inequality pros argued that “income inequality in a capitalist system is really nice” because it “provides incentive for creative people to bet on.