Income Inequality

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Inequality is not favorable in society. There is inequality in many aspects of our society, such as race, and gender. The main inequality we look at is income inequality in the United States. The one percent of the population control a vast majority of the United States currency. The Gini coefficient has been increasing ever since the Industrial Revolution, a period where education, manufacturing, and economics has shown growth. However, income inequality has increased in the Industrial Revolution. There are many events, and causes that have led to the rise of income equality in the United States. According to Hernaes (2017), technology in the United States has been growing. With the growth of technology, more “blue-collar” jobs are being replaced. Inequality is increasing because the jobs being replaced are lower wage jobs. The reason for inequality is that those in the lower class, and even the middle class are losing their jobs. Those in the upper class mostly retain their jobs because their labor requires more skilled labor. The income gap increases because the wealthy can allocate their spendings on other resources, or cheaper resources that will replace labor. The loss of these jobs would cause the poor to become poorer, and the rich become richer. The supply of labor demanded would decrease, resulting in fewer workers. The growth of technology began as a “slow train since the 1980s.” Technology has been growing “exponential[ly]” ever since (Jones, 1998). Jobs are

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