Income Inequality in the United States and France

648 Words Feb 20th, 2018 3 Pages
Income inequality is often presented as the percentage of income to a percentage of population.” (Investopedia). Some believe income equality is the biggest problem of the 21st century, President Obama believes it to be “the defining challenge of our time” (white house). Some economist believe that increase inequality has a correlation effect with higher rates of health problems, social problems, that it harms economic growth, creates higher persistent unemployment and polarizes opportunity. Historically one can make the argument that other advance nations who have collapsed, have had great inequality and economic stratification. Other economist argue that true ‘equality’ is impossible because people have different skills and abilities. Income inequality natural and a benefit because I creates incentive to work harder. It’s important to understand the effects of income inequality on a nation’s society and labor force. What type of problems income inequality could cause or doesn’t cause. This essay will give a comparative study of Income inequality in the United States of America and France, and how it effects labor and economic activity.
Renowned economist Simon Kuznets said “that as emerging economies grew, inequality grew as well, as the few with high-asset endowments—landowners, for instance—profit from their ownership of productive resources.…
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