What are good one sentence solutions to economic inequality?
My perspective is inequal outcome.Consider workforce as a investor not labour and give appropriate profit.OrProgressive taxation system based on total wages provision to net profit ratio of any company.Explanation :-Capital overdrive and weath distribution are the problems.Their working hours are also their investments.Homogeneous distribution of the profit is a solution.Employers make billions and pays very small to the employees.Different from Communism.It’s worth revisiting Oxfam’s recent figures on the state of global inequality today:1. The richest 1 per cent own almost half the world’s wealth ($110tn).2. The richest 85 people own the same combined wealth as the poorest half of the world.3. The richest 10 per cent own 86 per cent of all assets, while the poorest 70 per cent own just 3 per cent of the world’s assets.I'm not against the Capitalism but Crony capitalism. We need an enhanced capitalism.
Is inequality a natural consequence of efforts to increase economic efficiency?
No! Absolutely not.Inequality, or more preferably, “inequity” is a result of unmitigated greed, corruption, and outright fraud and dishonesty. It has absolutely nothing whatsoever to do with “economic efficiency”.Indeed, when you think about it beyond the “sky is falling” paranoia spread by the wealthy class who is responsible for creating the wealth gap, the reality is that if there was less inequality or inequity, the economy would fare much better. If for example in the US, the working class was prosperous, as it was after WW II, and prior to the election of Reagan, our economy would be in fabulous shape. It doesn’t take a rocket scientist to know that working class people making a decent living, also spend their money which creates economic growth.Economic stagnation and inefficiency result as a matter of fact, when a greedy and unrestrained wealthy class makes economic policy to suit their own interests, and create the situation where wealth is hoarded, rather than spent, and the majority of the population don’t have enough to scrape by, much less spend on discretionary items. When fortunes are allowed to be hoarded to the extent that they deprive the working class of the ability to participate in the economy, is the point at which economic inefficiency occurs.
Income Inequality???
Historically, income inequality in the U.S. has been positively related to immigration and negatively related to inflation and the strength of the unions. Tax system could potentially be altered to reduce the income inequality somewhat (more progressive income taxation, introduction of wealth taxes, entitlements for low-income families with children, etc.), but it any of these measures would have at least some negative consequences. Entitlements for low-income families with children have been tried before and turned out to be an incentive to produce more (poorly reared) children rather than take better care of children families already have. More progressive income taxation and wealth taxes would not have much of a negative short-term effect, but will lead to slower capital accumulation in the long-run. Back in 1981, Laurence Kotlikoff and Lawrence Summers published a paper (Kotlikoff, Laurence J. and Summers, Lawrence H. "The Role of Intergenerational Transfers in Aggregate Capital Accumulation." Journal of Political Economy, Vol. 89, No. 4, (August 1981), pp. 706-732.) which showed that captal accumulation happens largely through inheritance. Smaller fortunes today, therefore, could easily lead to the decrease in the number of the proverbial "good jobs" in twenty or thirty years. One can even argue that the "junk job explosion" of today is directly related to income inequality reaching its historic low in 1970s...
Does economic inequality trigger financial crises, entrenching inequalities further?
In a free society? No, at least not yet.In authoritarian and centralized repressive regimes yes. Even in repressive regimes the people are still sovereign and can take back government.The examples are the French Revolution and the Russian Revolution.In the French Revolution Maximilien Robespierre stoked greed and envy. He sent other French royalty to their deaths by guillotine, until the mobs turned on him and cut off his head.In the Russian revolution, Marxist leaders stoked greed and envy. And we all know how that worked out
List and explain causes of income inequality.?
Capitalism produces income inequality and unless the government has policies that promotes high wages it can become very large. In the US poverty level is set at 3 times the cost of food needed for the household Social Security and Medicare keep most of the old out of poverty (before we had them most of the poor were old) and Unemployment benefits keep many people from falling into poverty during recessions because the are laid off. Both of these are counted as income when calculating the number of people with incomes below the poverty level Welfare (means tested programs), TANF, Medicaid, and food stamps are the three most important programs that alleviate poverty for low income households including the old who need long term nursing home care ( they use almost half of the Medicaid spending). Before we had them being poor meant being hungry, now the poor weigh more than average.
Why did Ronald Reagan have a landslide victory in the 1984 election?
Reagan carried 49 of the 50 states, becoming only the second presidential candidate to do so after Richard Nixon's victory in the 1972 presidential election. Mondale's only electoral votes came from the District of Columbia and his home state of Minnesota—which he won by a mere 3761 votes, meaning Reagan came within 1900 votes of winning all fifty states. Reagan's 525 electoral votes (out of 538) is the highest total ever received by a presidential candidate. Mondale's 13 electoral votes is also the 2nd-fewest ever received by a second-place candidate, second only to Alf Landon's 8 in 1936. In the national popular vote, Reagan received 58.8% to Mondale's 40.6%. No candidate since then has managed to equal or surpass Reagan's 1984 electoral result. http://en.wikipedia.org/wiki/United_States_presidential_election,_1984