Inequality and Poverty
As the contemporary world enjoys vast advancements in almost every sectors there is still that portion of the overall populations within nations that still experiences extreme inadequacies despite the achievements gained. In particular, this is overly linked to the economic imbalances that have in turn resulted in high poverty rates amongst the less privileged. In this vein, it is quite evident that despite the generated economic growths, the gap between the rich and the poor continue to widen (Keeley). Basically, this is a clear indicator that the achieved economic growth has never been fairly shared. In this regard, poverty and as a major social challenge in the modern world is overly contributed by unequal distribution of national wealth particularly in the distribution of national resources.
Typically, inequality by all aspects is regarded as the major cause of persistent poverty rates. Particularly, income inequality in the modern world has rendered majority incapable of meeting their basic needs. In the United States, for instance, the majority comprises of the middle class and working people (Keeley). Basically, this does not necessarily imply that the people are satisfied with their current status. As it is relatively easy for the poor to become people of means the opposite is true. This typically implies that any sort of economic changes within a short period of time may have significant changes within the society. For instance, economic recessions experienced over the times have had a profound impact both on the poor and the rich with the former being the most affected.
The proliferation of poverty rates have commonly been attributed to the economic inconsistencies and the fact that the available opportunities have as well unequally distributed. Based on the governmental classification of income classes, the middle class and in extreme cases poor families are basically those categories of incomes whereby the families find it quite difficult to survive without serious problems. In this regard and based on their economic status in the overall sense, such families are placed in great risks especially when faced with any sort of economic crisis, for instance, sickly family member and or an injury at work (Yates). This, however, does not generally imply the essence of families failing to meet such basic needs like food, shelter, and healthcare but also the ability to embark on long-term programs that in the long run cushions them from such situations.
In this point of view, the difference in income amongst the populations has enormous influences on several ways that do not necessarily center on the economic status of the people but their overall welfare in the actual sense. It this vein, it is highly linked to such factors that promote illiteracy levels amongst the less privileged, infant mortality, homicides, high levels of incarcerations and to an extent harsher sentences, teenage births, mental illness including drug and alcohol abuse and social immobility amongst other social ills in the society (Marcuse). In return, the effects generated by such inadequacies amongst the populations in a definite area do not only affect individual welfare but also the overall well-being of the society, that is, the country in general. As a result, this negatively influences the factors that promote the economic status of the given country and that in return also become a challenge to the economy itself, for instance, life expectancies (Marcuse). In overall, a healthy working nation has well-balanced incomes that in turn promote the overall economy by eliminating all the challenges involved.
Keeley Brian. Income Inequality: The Gap between Rich and Poor. OECD Insights, OECD
Marcuse Peter. “Poverty or Inequality: Does It Matter?” Inequality. 2015. Web. 9 May. 2017 <http://inequality.org/why-economic-language-matters/>
Publishing: Paris, 2015. Print.
Yates Michael. “Poverty and Inequality in the Global Economy.” Monthly Review. 2004. Web. 9 May. 2017 <https://monthlyreview.org/2004/02/01/poverty-and-inequality-in-the-global-economy/>