In: Social Issues

Submitted By zgirard

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Words 329

Pages 2

The Price of Inequality Paper 3

Introduction and Chapter 1

DUE 10/24

50 points

Directions

The purpose of this assignment is for you to engage and reflect upon the 2 supplemental texts, to assimilate and master the information in them and to think about the arguments that the authors make. Each paper should be about 5 pages in length. But if you feel you need more space for fuller explication, you can go beyond that. The paper should use the text to respond to the assignment questions.. The paper should use a Works Cited format. All that means is that when important information is cited in your paper, or when you are quoting directly from the text, you cite the page number(s) within the text. The purpose of this format is to enable the reader to find the information her or himself, or to check the accuracy of the information. When quoting, paraphrasing, or citing significant information or significant claims you should cite within the text. For example: Alexander observed (20) that “For more than one hundred years, scholars have written about the illusory nature of the Emancipation Proclamation.” You do not have to write out On page 20 Alexander observed that “For more than…….

(See Writing Tips)

Remember Stiglitz tends to be a very organized and structured writer, after the main premise is stated, he then substantiates his argument, elaborating his claims with examples and illustrations.

In Chapters 5, 6, and 7 Stiglitz argues that moneyed interests (the top 1%) get their way in several battlegrounds that are related to the distribution of the economic pie; battles in the political arena, in the battle to establish perceptions of economic reality, and the battle over the laws and regulations that govern the economy. Write a 5 pages (or more) essay in which you summarize what you feel to be the most salient points…...

...exactly what will happen if income inequality is to take over. The rich citizens will make it to where the poor’s voice will be unheard. It is not fair to have a government where more money means more power, so in order for the government to protect equality; they must reduce the income gap. The government should learn more towards lessening the economic gap because it creates social and health problems between individuals. A few studies on this particular topic involve big populations and even the people that are involved. For example, one study suggested that the loss of life from income inequality in the US in 1990 was the equivalent of the combined loss of life due to lung cancer, diabetes, motor-vehicle accidents, HIV-related causes, suicide and homicide (Lynch, et al., 1998). Income inequality puts people in a risky situation because it places them in an order that increases status and causes stress, which usually leads to poor health and additional negative outcomes. A study shows that “from 2002 to 2006, the top 1 percent of Americans received two-thirds of the gain in national income, while the bottom 90 percent - mainly dependent on Main Street's shrinking economy - got only 12 percent.” These social problems such as crime rates and measuring them against income inequality, you will find that nations with higher income inequality have a greater chance to these social related incidents. In conclusion, a major cause of economic inequality within modern......

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...Two-Variable Inequality MAT221: Introduction to Algebra (GTO1310C) Inequality Equation: 12x + 15y ≤ 3000 (1). 12x+ 15(0) 15y ≤ 3000 (2). 12(0) + 15y≤ 3000 12x ≤ 3000 15y≤ 3000 12x / 12 ≤ 3000/12 15y / 15 ≤ 3000/15 12x ≤ 250 15y≤200 The problem 46 on page 240 in the text book, Elementary and Intermediate Algebra asks that I evaluate an inequality equation that can satisfy the Ozark Company needs. (Dugopolski, M. 2012 )The paragraphs ask for an inequality that can allow the company to use 3000 board feet of maple lumber. Of the 3000 board feet of lumber, the company will need 15 board feet to make classic rockers, and 12 board feet to make modern rockers. Therefore the inequality equation will equal to: 12x + 15y ≤ 3000. The company wants to see if how many classic or modern rockers they can manufacture with 3000 feet of maple lumber. In the equation (1) the number 12 is multiplied by x which is an unknown unit number. It is added to 15 multiplied by x which is an unknown unit number of classic rockers. Both units and their unknowns cannot exceed 3000 feet of lumber added together. In the equation the first step is to find the limit of the variable (x) which represents the modern rockers. Now substitute 0 for the letter (y) which should cancel out the (y) variable. What is left is 12x ≤ 3000. Next divide 12 by both sides to see what is the limited number of feet that the company can use without exceeding the maximum. The answer should be 250 board feet......

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...The History of Inequality: Institutions and Citizenship Throughout history, inequalities have permeated many different societies to different extents. The exclusion of certain groups over the course of centuries and policies that favor the elite more often than not have allowed inequality to persist. Many different policies and factors result in these inequalities, so it can be difficult to narrow down which have the greatest impact, but by examining the history of different programs meant to reduce or perpetuate inequalities, it is clear that the issue of inequalities is one of policy rather than a natural state. According to de Barros, “The inequality caused by unequal opportunities is viewed by most people as fundamentally unfair” (de Barros, 27). This suggests the difference between inequality of opportunity and inequality of outcome. If there seems to be a positive correlation between these two forms of inequality, then we can claim there is something unfair about the system inherently. Furthermore, “some inequality may be tolerated, like inequality caused by differences in effort and talent, particularly when attempts to reduce it could interfere with other ethical objectives, such as privacy and individual freedom. Equality of opportunity is desirable, equality of outcomes (earnings, income, wealth) not necessarily” (de Barros, 27). For example, if a child who, because of chance and circumstance, grows up in a poor family and lacks access to a decent education......

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...MAT 221 Math is a very interesting and difficult topic for me at times, but I must admit that I enjoyed this week’s lesson on inequalities. I never knew that there were calculations for body mass index until now. Below, I have worked out calculations according to my height that let me know which weight(s) is healthy for me. In addition, I will also work calculations in between as well as the calculations that show which level of weight(s) that I need to stay away from, if I wish to extend my years here. According to page 151 in our textbook, we were given the formula for Body Mass Index or BMI as stated below: BMI= 703W H2 Next, we were asked to calculate the four intervals based on our own individual heights. My height is 72.23 inches. The various intervals include three compound between inequalities and one average inequality. Whenever BMI shows up in the inequalities I will substitute the formula and solve the inequality for W to point out the weight ranges that fit each category for my specified height. As documented, the first interval shows those who might have a longer life span than average. The compound inequality for this is: 17<BMI<22 17<703W<22 This is referred to as an equivalent inequality. H2 17<703W<22 Here H2 has been replaced by my actual height in inches. 72.232 17<703W <22 During the next step, I will multiply all three terms by the denominator. ......

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...Inequalities This assignment involves the use of inequalities in mathematical equations. The formula for finding Body Mass Index (BMI) is BMI =703W/H^2. In this formula W = weight in pounds In this formula H = height in inches. For this assignment four intervals based on our own personal heights must be calculated. I am 6 feet 4 inches tall. My height in inches (or H) equals 76. These intervals include inequalities that are categorized as between or compound inequalities. One interval in this assignment will be a regular inequality. Wherever “BMI” appears in the inequalities, we will exchange the formula and solve the inequality for W to find the weight ranges that fit each category for my height. The first interval calculates those who might have a longer than average life span. The compound inequality for this follows: 17<bmi<22 17<703W/76^2<22 17<703W/5776<22 17*5776<703W<22*5776 98192<703W<127072 (Dividing all by 703) 139.6756<w<180.7567 140<w<181 People with a height of 76 inches may have a longer lifespan if they weigh between 140 and 181 pounds (after rounding up). Now we will do something a little different from the previous problem. Below we will solve the 2nd inequality for the formula for W prior to entering the different values to find W. 23<703W/H^2<25 23H^2<703W<25H^2 Divide all by 703 23H^2/703<w Square H for insertion (76*76) =......

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...Inequalities According to our textbook located on page 151 (Dugopolski, M. (2012) the formula for Body Mass Index (BMI) is: BMI = 703W H^2 Now, W is equal to an individual’s weight in pounds and H is equal to the height in inches. The height I will be using in the following problems is 70 inches. The stated intervals combine three compound between inequalities, and one “ordinary,” inequality. For the Body Mass Index (BMI) will be used in inequalities; for this formula they will also be supplemented to solve the inequality for W, that will define the ranges of weight that are particular for the height being utilized. Our first interval indicates which individual might have a longer life span then average. The compound interval that will be used is: 17 < BMI < 22 17 < 703W < 22 Equivalent inequality will be replacing BMI in the formula. H^2 17 < 703W < 22 (70)^2 I have replaced H^2 with my height in inches. 17 < 703W < 22 4900 We square the denominator and then multiply it by each numerator. In this case it will be 17, 703W, and 22. 17(4900)<703W(4900)<22(4900) It has now been cancelled. 49000 83300<703W<107800 Carry out the multiplication 83300<703W<107800 The terms are then divided by 703 in order to isolate W. 703 703 703 118.5<W<153.3 Those with the height of 70 inches may indeed have a longer than......

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...Inequalities MAT/221 07/14/2014 Compound inequalities and inequalities are useful for creating charts for doctors for the BMI, by giving people the range for how much they should and shouldn’t weigh according to their standards. These calculations could be misguided because they don’t account for certain aspects like body fat and or muscle mass, because to two weigh differently. The BMI equation is equal to 703W divided by H squared. The W stands for weight in pounds or LBS and H stands for height in inches. In the following height we will be using 65 inches. The first compound inequality is 17 less than W over H squared multiply 703 and less than 22. The first step to solving is to divide 703 to 17 and 22. Then multiply both the 17/703 and the 22/703 by h squared. And that will leave us with 17/703 * h^2 < w < 22/703 *h^2, now we will plug in the height of 65 in. and solve the compound inequality. We get the answer of 102.169 < w <132.219. The second problem is 23 less than W over H squared times 703 and less than 25. To solve this compound equality we first divide 703 to both 23 and 25 to remove the 703 from the middle. Then we multiply H squared into both 23 over 703 and 25 over 703. Giving us the problem of 23 / 703 * h^2 < w < 25 / 703 * h^2. The solved problem comes out to be 138.229 < w < 150.248. This we will be the BMI that I will be graphing and using for the interval notations. The notations for this problem are [138.229,......

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...October 29, 2014 IS 206GENDER ANALYSIS AND DEVELOPMENT THE IMPACT OF INEQUALITY Box 1: COMPARATIVE STUDIES ON INEQUALITY AND SOCIAL MOBILITY ACROSS OECD AND LATIN AMERICAN COUNTRIES Presented by Del Mundo, Maria Naida Box 2: SOCIAL AND POLITICAL COHESION, SOCIAL TOLERANCE OF INEQUALITY Presented by Gutierrez, Cherry Lou THE IMPACT OF INEQUALITY ABSTRACT October 29, 2014 There is growing evidence and recognition on the powerful and corrosive effects of inequality on economic growth, poverty, social mobility and political cohesion. This paper finds that the real and potential impacts of inequality in relation to economic growth, poverty, social mobility, social stability and cohesion. KEYWORDS: Inequality, Economic Growth, Poverty, Social Mobility, Political Cohesion, Gender I. INTRODUCTION In relation to the worldwide gender gap, in so far as inequality also exist in political imbalance in the Philippines distinguished through the partisan move of a party, wherein, such intent, policies and term of their advocacy is their ultimate road map and reluctantly to engage in the opponent’s adherence. Colonial mindset, attributable to the Spanish era wherein their colonial stay in the country portrays the strictness and conservative ways in precluding to whom or to which is one’s belief will end up to, and upon the continuance of the American regime, where westernized ways has gotten in the minds of the Filipinos, that every choice of an American decision draws correct......

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...The article talks about how inequality has increased over the years and is steadily increasing. In the first article, the writer pretty much breaks down how this is possible. Or in other words the author breaks down why this might have occurred. I agree that the United States favor the wealthy. The writer went into depth on a study how the society favors the wealthy over the poor. I think this is so true. It is not fair that some people don’t have to pay certain wages like others may have to. Like the writer stated from the professor, “He defines “income” as pre-tax cash market income — wages and salaries; dividends, interest, rent and other returns on invested capital; business profits; and realized capital gains.” I must say that I agree with the professor’s statement. This statement means that even though we get paid for our work, we are still paying for our work, if that makes any sense. I wish he would have explained his statement a little more. Over all, I think the writer did a pretty good job on explaining his point on inequality and society. In the second article, the writer states somewhat the same thing about how there is inequality with income in society. Article two has a little more explanation on how the government shows more favor to those that have money than those who don’t. Not only does it talk about rich versus poor, the article talks about how a person’s race can determine their wages. In other words, a person who is black income may be lower than a......

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...http://www.interviewmagazine.com/music/j-cole-harvard#_ http://www.djbooth.net/index/interviews/entry/j.-cole-interview-1027091/ http://sonia-acma01.blogspot.com/2013/11/confronting-inequality-by-paul-krugman.html http://www.resilience.org/stories/2013-06-21/free-time-the-forgotten-american-dream http://hedricksmith.com/books/who-stole-the-american-dream/ http://edgeofcivilization.wordpress.com/lost-in-the-american-dream-book/ http://uproxx.com/smokingsection/2015/03/j-cole-gomd-video-explanation/ http://uproxx.com/smokingsection/2015/03/j-cole-gomd-video-explanation/ http://www.vibe.com/2015/03/j-cole-gomd-kendrick-lamar/ http://youtu.be/H1FqxcfnWi0 One of the main reasons why I choose this subject of how the world is not encouraging economic growth, was because of urban rap artist J Cole. He is a perfect example that I can not only relate to but understand how he lived. J Cole (Jermaine Cole) any many of his interviews he talks about the exact type of equality of chance of growth I am introducing. By telling his personal story though his music and the interviews, gives me a greater insight on how I have been taught as a kid my whole life. As he also introduces the manner that the people of different business are being used as a slavery image, I can transverse that to fit my essay. Everything aspect that J Cole went through was a exact match to what my father warned me about this world before I had to experience it. J Cole offers the same mind set as well as,......

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...Income inequality Name Date Abstract In any given population, there is a difference between what people within the population earn. The uneven distribution of income in any given population is income inequality. In order for there to be income, there has to be several sources of income. These sources of income may be combinational or independent per person receiving the income. Income may result from wages, rent, bank account interests, salaries or even profits made in business transactions ( Stiglitz, 2012). In his hypothesis, Karl Marx foresaw income inequality in a capitalistic as a major problem that would lead to an economic evolution. The main reason he foresaw an evolution was due to the recurrent nature of income inequality. In an income inequality situation, the richer keep getting richer due to a better income, while the poor keep getting poorer. The gap between the top earners and the low-income earners keeps widening in an income inequality situation. In America, almost 95% of the national wealth is under 5% ownership; this situation leaves 95% of the population to scrounge for the limited 5% wealth (DeNavas et. Al, 2005). Introduction In order to understand the complexities of economic inequality, the best specimen to use for the study is a family. In the study, the family’s income is under analysis, and then the family members ranked from the lowest income earner to the highest income earner. After the ranking, the incomes aid in establishing a Lorenz...

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...Issues in inequality in non-income dimensions Achin Chakraborty Institute of Development Studies Kolkata 1, Reformatory Street, 5th Floor Calcutta University Alipore Campus Kolkata 700 027 India achinchak@rediffmail.com Abstract There are two basic approaches to measuring inequality in non-income dimensions. One views inequality as variation of an outcome indicator across individuals and the other views inequality as essentially disparities across socioeconomic groups. While the latter view now dominates the inequality measurement in health, measurement of education inequalities has so far taken the first view. In this paper, we have argued the importance of reckoning inequality in socio-economic group terms and advocated use of an ‘education concentration index’ exactly in the same way as the health concentration index measures socio-economic inequalities in health. The index has been applied to the Indian data to reckon two kinds of inequalities in educational attainment (years of education) – one across economic classes and the other across socially identified groups such as the Scheduled Tribes, Scheduled Castes and others. We find a strong correlation between the two types of inequalities across the states of India. We also find, as one would expect, that the inequality index values are negatively correlated with the average years of education. However, in actual policy context, analysis of the outliers...

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...3.2 Theoretical development The theoretical view in economic inequality has a long history. The deliberation of fair distribution can be old-fashioned to classical economist David Recardio and leftist theoretical matters as Karl Marx. These theorists have already documented the magnitude of distribution in the society, and among different classes of the people. 3.2.1 Kuznets Hypothesis: A reasonably moderate theory which has prevailed in the mainstream academia for about half a century is attributed to Kuznets (1955), which argues that income inequality would change as economic growth changes or more precisely, income inequality would rise first and then decline with economic growth. This theory is related with factor movement between sectors where there is inequality, which permits income distribution does not need to be fully equalized. This theory implies that fairer distribution may lead to higher productivity.[1] Kuznets curve is the graphical representation of Simon Kuznets's theory ('Kuznets hypothesis') that economic inequality increases over time while a country is developing, then after a critical average income is attained, begins to decrease. Figure 3.1: Graphical representation of Kuznets curve One theory as to why this happens, in early stages of development, when investment in physical capital is the main mechanism of economic growth, inequality encourages growth by allocating resources towards those who......

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...1. A major cause of economic inequality within modern market economies is the determination of wages by the market. Inequality is caused by the differences in the supply and demand for different types of work. In a purely capitalist mode of production the workers wages will not be controlled by these organizations, nor by the employer, but rather by the market. Wages work in the same way as prices for any other good. Thus, wages can be considered as a function of market price of skill. And therefore, inequality is driven by this price. Under the law of supply and demand, the price of skill is determined by a race between the demand for the skilled worker and the supply of the skilled worker. We would expect the price to rise when demand exceeds supply, and vice versa. Employers who offer a below market wage will find that their business is chronically understaffed. Their competitors will take advantage of the situation by offering a higher wage to snatch up the best of their labor. For a businessman who has the profit motive as the prime interest, it is a losing proposition to offer below or above market wages to workers.[13] A job where there are many workers willing to work a large amount of time (high supply) competing for a job that few require (low demand) will result in a low wage for that job. This is because competition between workers drives down the wage. An example of this would be jobs such as dish-washing or customer service. Competition amongst workers tends to...

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...TMA 01 Clare Swan - (B6446618) Outline some of the ways in which inequalities have been made and remade in South Wales. In this essay I will be looking at the inequalities, which is the unequal distribution of valued social resources within a society or between societies and how they have been and remade. I shall be looking at the legacy of coal, gender inequality and the redevelopment of Cardiff Bay. The presence of coal affected many aspects of life. Many different people earned their livelihoods through coal, directly or indirectly. Shops served a thriving community. There were clear inequalities between the roles of the woman and the men. The work in the deep mines constructed a particular sort of masculinity, of the miner being necessarily a physically strong person coping with heavy work, dirt and dust. This was linked with the feeling of honour and being the bread winner. Wives were based at home taking supporting roles to husbands and children. The 1984/5 miners strike marked the transformation of the traditional roles of women and men. Barbra Williams, the wife of a miner tells us that woman were good enough to work behind the bar at the Meardy Social Club but they were not able to sit within the bar. At the same time, both woman and men came together in solidarity during the miners strike. The strike resulted in a high-profile role for the miners’ wives. Whilst the men were on strike the miners’ wives like Barbara Williams felt they had to take......

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