Throughout this topic my attitude towards poverty and inequality has changed. Before studying this I associated economic growth and GDP with greater living standards and thought that countries that had higher economic growth enjoyed a happier society. However now I realise that growth is inextricably linked to inequality, in fact some of the worlds most… Continue reading Penny’s reflection of inequality and poverty
This topic has been an eye opener, as naturally, I assumed that there would be some inequality within the distribution of income and wealth in the UK but not at an extravagant level. After completing research and really getting involved with the topic, I soon realised that this was not the case. I have also discovered that… Continue reading Amy’s Review of Economic Inequality
Poverty is: not having access to an education not having access to food lack of shelter unemployment powerlessness ill health lack of representation lack of freedom Although it is difficult to measure poverty, there are two accepted methods of doing do; Absolute poverty – When a person cannot provide for their own basic needs such… Continue reading Poverty
The possible policies governments may use to reduce inequality: A higher national minimum age – This would be an effective way to increase the incomes of low paid workers and incentivise the unemployed to seek work, in turn this would reduce wage inequality. However it could potentially lead to greater unemployment has firms may not… Continue reading Government Policies to deal with inequality
Income can be defined as a flow measured over a given period of time. Whereas stock is a concept measured at a given point in time – assets constitute wealth. The UK has a very high level of income inequality compared to other developed countries. In the bottom 10% of the population households have… Continue reading Distribution of Income and Wealth
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