Social Problems Related to Poverty or Wealth Ginger Voight Economics plays a significant role in society, and extreme poverty in conjunction with extreme wealth can lay the foundation for many problems for humanity as a whole. These problems are felt the world over.
Info Poverty is Not Inevitable: We have the money to solve this. But do we have the will? Pearl Street, New York City. Photo by Eric Magnuson. Dean Paton posted Aug 20, Inequality and poverty are suddenly hot topics, not only in the United States but also across the globe.
Since the early s, there has been a growing underclass in America. Despite this, the resulting inequality went mostly unnoticed. When the Great Recession of hit, and the division between the very wealthy and the rest of us came starkly into focus, various people and groups, including the Occupy movement, began insisting more publicly that we tax wealth.
But still, helping the poor has been mostly a discussion on the fringes. At last, the terms of public debate have changed, because inequality and poverty now are debated regularly in the mainstream media and across the political spectrum, not solely by labor, by the left, and by others imagining a new economy.
Click here to subscribe to YES! Inserting such a controversial topic into mainstream discourse is French economist Thomas Piketty. His page tome, Capital in the Twenty-First Century, shocked everyone this year when it made The New York Times bestseller list and bookstores found themselves backordering an economics book for legions of eager readers.
Piketty did exhaustive searches of tax records from Great Britain, France, and the United States, going as far back as the late 18th century in France.
Using sophisticated computer modeling and analyses, the professor from the Paris School of Economics debunks a long-held assumption—that income from wages will tend to grow at roughly the same rate as wealth—and instead makes a compelling case that, over time, the apparatus of capitalism grows wealth faster than wages.
Unless we can reverse the inequality trends of the past 35 years, Piketty says, the ensuing social chaos will eventually destroy democracy. Unfortunately, not even Piketty sees much chance of all nations on Earth simultaneously enacting his tax plans. But at least he sparked a widespread discussion.
And fortunately, others have been digging deeply, thoughtfully into the same questions, and they have some practical as well as achievable ideas for reversing poverty and inequality trends. Despite his whodunnit title, Smith reveals the perps long before you finish the book.
The former New York Times reporter uses data and real-life stories to build a case against American CEOs and the politicians who do their bidding. Unless we can reverse the inequality trends of the past 35 years Between andSmith notes, U.
Between andyears that parallel a collapse of the middle class, U. Millions who created that wealth were thus pushed into poverty or to its precipice, while those who fancy a neomedieval economic system transferred billions in profits, generated by that labor, upward to themselves.
Gar Alperovitz is a professor of political economy at the University of Maryland. What Then Must We Do? And replacing capitalism no longer is farfetched. From their thinking and others, he puts forward a proposal to reclaim the American Dream. Start, he says, by creating a public-private partnership to generate 5 million new jobs rebuilding infrastructure—bridges, highways, and rail corridors.
Increase government investment in science and high-technology research to bolster U. Make income tax fairer, which will decrease inequality, then fix the corporate tax structure so it promotes American jobs and curtails outsourcing.
At the same time, force China to live up to ethical trading principles because that would generate up to 4 million U. Much of this new Marshall Plan depends on congressional action, where such ideas have little chance as long as the current gridlock prevails.
But Americans could mobilize to reform electoral politics and reduce the influence of money in elections. He lays out bottom-up solutions already in practice across America that offer superior alternatives to the status quo.
Alperovitz points to the company ranked 48th on the Forbes list of the largest U. Already, some 11, companies employing Pioneer Human Services, in Seattle, is a textbook example of this model, a form of democratized ownership that uses the money it earns as well as the enterprises it creates to achieve broader social purposes.
The organization produces thousands of machined parts for Boeing, caters more then 1, meals a day for hospitals and other facilities, and employs almost 1, people usually classified as impaired or unemployable.
Pioneer is but one of many such social enterprises doing good and democratizing wealth. Alperovitz says that more than million Americans—more than 40 percent of the population—belong to one or more co-ops. Not just food co-ops but also agricultural co-ops, electric co-ops, insurance co-ops, retail co-ops such as REI and retailer-owned co-ops such as ACE Hardwarehealth care co-ops, high-technology industry co-ops, artist co-ops, and credit unions.Different poverty levels.
Poverty lines shown here include $1 a day, $ a day, $ a day, $2 a day (typical for many developing countries), $ a day (which includes a poverty level for some additional countries), and $10 a day, which a World Bank report referred to if looking at poverty from the level of a wealthy country, such as the US.
With member countries, staff from more countries, and offices in over locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
Comprehensive and meticulously documented facts about income, wealth, and poverty. Learn about the measures, sources, correlates, and trends of economic wellbeing in the U.S. and across the world.
This part of the yunusemremert.com web site looks into the effectiveness of the IMF-imposed Structural Adjustment Policies and how this has exacerbated poverty. And subjective perceptions of social status and.
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President Hatcher, Governor Romney, Senators McNamara and Hart, Congressmen Meader and Staebler, and other members of the fine Michigan delegation, members of the graduating class, my fellow Americans: It is a great pleasure to be here today.
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