What Is Wealth Disparity?

1291 WordsMar 6, 20176 Pages
What exactly is wealth disparity? And why does it matter? The website inequality.org is a fascinating website full of statistics on this topic and provides data by analyzing whether policies instituted help, or hurt this problem. They define wealth inequality as “the unequal distribution of assets within a population. The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation” (inequality.org, 2017, para. 1). Using terms such as distribution of assets would give the idea that we live in a socialistic economy. This word seems to be Taboo in America, but people don’t realize that we are very close to this concept. It is just hidden better. There are many reasons that this…show more content…
I will use the information from this site to supplement many statements throughout the essay. This site does not specify why the gap is wideing or offer any solutions, but adds that element of facts that will be difficult to debate. Annotation 2: McKernan, S., Ratcliffe, C. Steuerle, E., Zhang, S., (2014). American Economic Review, v. 104, iss. 5, pp. 240-44 This article focuses on the great depression and how it affected the income and wealth of Americans. Many good points are being made like history showing that societies generally became richer than previous ones, and accumulate more wealth. Unfortunately, this trend has not continued the past few decades, at least for the middle class and below. A variable that will be used in the essay is race in comparison to one another. Has the same level of disparity occurred in whites as in minority groups? Luckily, this article provides some interesting facts and viewpoints on this subject. Another element that is introduced is advanced statistical formulas such as regression analysis and the use of coefficients to provide hard data that is free from human bias. This brief article complements the others in showing how specific groups were affected by wealth inequality instead of making a generalized statement. It is good to pinpoint
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