Would you be able to envision yourself working 12-hours per day and just having enough cash to pay for lease and put nourishment on the table for your family? With working every one of those extended periods, you can scarcely stand to cover your utility tabs and from that point onward, you need more cash or time for extravagances like...
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Imagine if you were living off $15,000 per year. You would have a hard time to support your family and have little extra money to spend on enjoyments. You would most likely not be able to go to the grocery store and buy snacks simply because you like them. You would also not be able to go to a movie...
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In the United States (US), the household wealth of a median white family in 2019 was $147,000, while the median black family owns $3,600 – just over 2% of what the median white family owns (Collins, Asante-Muhammad, Hoxie, & Terry, 2019). The wealth gap between whites and blacks not only suggests that there is an inequality of outcomes, but also...
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How would you feel if you were one of the 800 million people who went to bed starving each and every night? At this very moment, countless people are forced to bear the pain of poverty and starvation, through no fault of their own, while millions of individuals in developed-countries binge on excessive amounts of food. These same insatiable people...
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Economics is regarded as the social science that is concerned with the distribution, production as well as usage of goods and services. In economics, demand and supply are those factors that are said to decide price, producers would like to sell at a specific price i.e. supply, and customers will be able to buy the product by determining the price...
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Similarly, in 1901, every Australian had the right to vote, however in 1902 Aboriginal and Torres Strait Islanders were not allowed to vote in Federal Elections until 1962. They were also not considered in the census until 1967 (Australian Electoral Commission, 2017). A White Australia Policy was employed in 1901 and it was not entirely eradicated until the 1970’s. Non-white...
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The minimum wage is a fundamental labor policy that sets a legal floor for hourly wages, ensuring workers receive fair compensation for their efforts. This essay explores the impact of minimum wage on various aspects of the economy and society. By examining both the advantages and disadvantages of minimum wage laws, we can gain a comprehensive understanding of their effects...
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The income gap is when the gap between the wealthy and the poor is very big. This is an issue that is still affecting many people to this day, it is an economic impact that many people have to face. However, the income gap does not only stop at being an economic issue, but it could also have a political...
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America, the land of plenty, has always experienced an abundance of wealth, but has the unequal distribution of this wealth become our downfall? It’s easy to see that people in the United States are getting richer. However, a fraction of the wealth is becoming an issue towards the less fortunate. According to the film ‘Inequality for All’, Robert Reich exhibits...
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We have all heard the phrase of income inequality in our lives. But few of us actually thought about it or even consider thinking about it. Before diving into solutions, what is causing this problem in the first place is essential because without knowing the issues of what causing this problem in the first place and looking for solution will...
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Today South Africa is still not a free and fair democracy as defined in our Constitution. There are huge divisions in society due largely to the past apartheid regime. This disparity manifests as economic inequality including income, employment and educational inequality. It also manifests as social and geographical inequality and the lack of basic services to certain residential and rural...
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According to the Federal Reserve Bank, the average black family holds less than 15% of the wealth of the average white family. While white families have median and mean net worths of $171,000 and $933,700, a black families’ median and mean wealth is $17,600 and $138,200. Hispanic families also earn substantially less, with a median and mean net worth of...
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The minimum wage is a topic widely debated by both sides of the political spectrum in the United States. But first, what exactly is the minimum wage? Fair Labor Standards Act (FLSA) of 1938 enacted by President Franklin Roosevelt established the minimum wage. The original minimum wage was 25 cents per hour. This amount equates to approximately $4.04 spending ability...
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Leibbrandt and Shipp break down the source, cause and solution to the income disparity in South Africa. Their findings tackle how the bridge between the rich and poor, gender and racial inequalities, equalization workers’ wages and salaries, stability of the middle class and the division caused by the need for some form of tertiary education. This essay will explore a...
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Almost everywhere you go you can see homeless people off to the side of the streets hunkered down in their little shelter. The United States government’s economic plan, income inequality, is at its worst because about a quarter of American workers make less than the federal minimum wage which is less than $10 an hour, and you see them almost...
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Within every population, there is a discongruity as to how much a citizen will earn inside of their economy. They are experiencing income inequality. You may be asking yourself, what is income inequality, exactly? “Income inequality is a phrase that is used in reference to the uneven distribution of individual or household income among a given population” (Schiller, pg. 40)....
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Have you ever wondered why our business world has made such a limited progress since independence? Have you ever thought why our nation still is in the list of N11 from last 17 years and still could not be a progressively developing nation? It is because of the limits we set in every sphere of our life. It is because...
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The minimum wage has been the topic of many recent conversations. This conflict has gained notoriety, and become a key issue in today’s political world. This has been an issue for years as low wage workers have had difficulty providing for themselves and their families on their current minimum wage income. The demand for higher salaries has gained popularity, with...
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One out of five people faces discrimination. It is the unjust treatment of people towards others on the basis of caste, color and even looks. People are discriminated for looking ugly. They are deprived of basic rights just because they are not beautiful according to our society. There should be laws introduced against looks discrimination so that people in our...
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Abstract Disposable income determines the socioeconomic status of people. Income in the US nvaries by race and ethnicity. White households are known to have higher incomes compared to the households of people of color. This paper focuses on the wage inequalities faced by the Latino population in the US. The paper further looks at the intersectional roles that race/ethnicity and...
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