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Problems of power and control
- 1. ProblemsofPowerandControl: EconomicInequality Lauren Kovacs Contemporary SocialIssues - GNED2057-15F-12669 Professor Emily Brett Friday, November 27, 2015. (Balance Scale Image, 2015) (World Map, 2006)
- 2. What is economicinequality? “Economic inequality is the difference in how assets, wealth, or income are distributed among individuals and/or populations. It is also described as the gap between rich and poor, income inequality, wealth disparity, wealth and income differences, or the wealth gap” (Inequality, 2015). (Expensive Ignorance and Economic Inequality, 2014)
- 3. What is thesignificance of economic inequality? Economic Inequality is significant because the planet we live on is so dependant on money.Throughout the world economic inequality is massively seen through the division between the rich and the poor.This causes many relevant problems worldwide that will be later mentioned. From a sociological perspective economic inequality separates society as a result of power and control issues. If not for this inequality, many of the worlds struggles would not exist. (Tomislav, 2014)
- 4. How is incomeinequality measured? The most common technique used to measure economic inequality is referred to as the Gini Coefficient. According to the Conference Board of Canada, the Gini Coefficient, “calculates the extent to which the distribution of income among individuals within a country deviates from an exactly equal distribution” (Income Inequality, 2015). In simpler terms, the Gini coefficient uses a ranking system that demonstrates a countries wealth distribution in regards to equality. For instance, if a country is rated 0 then they have complete equality, whereas if a country is ranked 1 then a single individual owns all the countries wealth. Based on this image Greenland is high on income equality, and countries south in Africa are very high on income inequality. The Gini Coefficient: 0= total equality (same income) 1= total inequality (one person has all) (World mapGini coefficient with legend, 2006)
- 5. Economic Inequality andtheWorld The following are statistics that support the prevalence of economic inequality: • “The richest 1% of adults in the world own 40% of the global household wealth; the richest 2% of adults own more than half of the global: and the richest 10% of adults owns 85% of total global wealth. • The poorest half of the world population owns barely 1% of global wealth. • Households with per adult assets of $2200 are in the top half of the worlds wealth distribution; assets of $61,000 per adult places a household in the top 10%, and assets of more than $500,000 per adult places a household in the richest one percent of the world population. • Although North America has only 6% of the worlds adult population, it accounts for 34% of all household wealth worldwide. • 1.4 billion of the worlds population is leaving in extreme poverty” (Holmes, Mooney, Knox, & Schacht, 2016). Economic inequality is a massive issue worldwide. As demonstrated through these statistics, the worlds wealth is unevenly distributed.The rich represents little population but majority of wealth. Whereas the poor makes up a large part of the worlds population receiving little to nothing. (World’sWealth, 2015)
- 6. This video takesa numeral approach to looking at the worlds wealth distribution in simpler terms.The video looks at the world on a macro level and exposes the fact that the richest 1% has 43% of the worlds wealth. It is mentioned that 80% of the worlds people have barely any of it’s wealth. It is stated that the richest 300 people on the planet have equal wealth to 3,000,000,000 of the poorest people. Ultimately this causes a massive social issue of inequality and eliminates the possibilities of education, medicines and other basic human needs (TheRulesOrg, 2013).
- 7. Economic Inequality inCanada Economic inequality in Canada has been on the rise over the past 20 years.The above image (left) demonstrates the downfall of inequality in the 80’s.There was a sudden peek in 1991, and the inequality has been building even since.The image on the right illustrates the wealth distribution in Canada. It makes it clear that the two wealthiest groupings own 62.3% of Canada’s total income, whereas the poorest people own 7.3% (Income Inequality, 2015).
- 8. The above videotakes a progressive approach to spreading awareness of economic inequality in Canada. The video discusses how the majority of Canadian’s work more and earn less now then they did 30 years ago. It is addressed that Canada’s current economic gap is the result of poor political choices that causes more violence, less health, and less prosperity.As a result, people have lost faith in the system and therefore are losing the sense of community. Finally, the video offers solutions to such problems, which believes Canada can be different and offer fair wages, fair taxes, and good jobs (Broadbent Institute, 2012).
- 9. Relation to otherinequality issues: Economic inequality opens up a gateway to many of the worlds current issues. For instance it is related to the idea of gender inequality by the fact that men make more then women, which in some cases contributes to the stereotypes around women. Another factor is that due to the uneven distribution of wealth many people find themselves living in poverty, and some homeless which causes lack of healthcare, education, and increased crime rates.This is a vicious cycle because once an individual lacks access to the things that will help them rise above in life, then they are not making the money to live a sustainable lifestyle.Another big issue is the idea of class conflict, prejudice, discrimination, and struggle over resources because all of this opens the doors to warfare. Finally, economic inequality also relates to mental health issues because people are stuck in that cycle of inequality and are not getting access to the support of resources that will better their lives in some cases. • Gender inequality • Relation to crime • Access to education • Access to healthcare • Opens the doors to prejudice and discrimination • Causes class conflict and instability worldwide • Wars over resources • Causes poverty and homelessness • Struggle over land and housing • Majorly contributes to mental health issues (Key Issues in Poverty & Inequality, 2011) (Inequality, 2015)
- 10. Economic Inequality inRelation to the ConflictTheory: The ConflictTheory is defined by the textbook as, “the theoretical framework that understands material inequalities to be a driving force behind many social problems” (Holmes, Mooney, Knox, & Schacht, 2016). The conflict theory relates to the issue of economic inequality because the theory views this social issue in regards to the economy being structured to benefit the wealthy.This theory believes that the proletariat (workers) have domination over the bourgeoisie (owners). According to the conflict theory, laws and policies are set in place to benefit the wealthy.This is known as welfare, which the textbook describes as, “government policies and regulations that economically favour the wealthy”(Holmes, Mooney, Knox, & Schacht, 2016). Ultimately the conflict theory approaches economic inequality as a result of the rich having power and control over the poor. (Rich man’s blood poor man’s war, 2013)
- 11. Solutions… Though economic inequalityis a massive as well as complex social issue, there are always ways to improve. Some possible and relevant solutions to such problems include: • Create more jobs • Provide employment for all • Improve taxes for low income families • Free education for all • Free healthcare for all • Equal wages • Job security • Remove race barriers • End discrimination • Create more work initiative programs – educating young people • Provide unemployment insurance • Raise minimum rage All of the proposed solutions would play a role in providing economic equality for all.Things like fair wages could be accomplished by providing everyone with free education and to demolish racial/gender discrimination so that everyone has fair opportunities.Another solution is to create more jobs worldwide and raise minimum wage. Creating more work initiative programs would be beneficial because it would educate young people on the importance of creating a stable financial lifestyle. In addition, providing job security and unemployment insurance would create economic safety for all. Finally, one of the biggest solutions to the gap between the rich and poor is the idea of lowing taxes for low income families.This , as well as all of the above would force the world economy to give everybody a fair chance and therefore, ultimately, provide equality for all. (10 Solutions to Fight Economic Inequality, 2015)
- 12. In conclusion… Economic inequalityis a major issue not only in Canada, but throughout the world. Income inequality is defined as the gaps between the rich and the poor.There are three categories that fall under economic inequality which include, income inequality, pay inequality, and wealth inequality. Economic inequality is measured by the Gini Coefficient. Economic inequality contributes towards the worlds struggles such as, poverty, homelessness, lack of education, lack of healthcare, warfare, battle of resources, gender inequality, and overall prejudice/discrimination. All of the above are current issues in the world as well as in Canada. Economic inequality is a major power and control issue that needs a solution,WE NEED CHANGE!
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- 14. References Balance Scale Image.(2015). Retrieved from http://www.clipartbest.com/balance-scale-image Broadbent Institute. (2012). Ed Broadbent on Income Inequality. Retrieved from https://www.youtube.com/watch?v=ZDWOm9eGVpU Expensive Ignorance and Economic Inequality. (2014). Retrieved from http://quietmike.org/2014/06/28/expensive-ignorance-economic- inequality/ Holmes, M., Mooney, L., Knox, D., & Schacht, C. (2016). Understanding social problems. (Fifth Ed.). Nelson Education: Toronto. Inequality. (2015). OECD data. Retrieved from https://data.oecd.org/inequality/income-inequality.htm Inequality. (2015). Retrieved from http://www.forbes.com/sites/jamesmarshallcrotty/2015/02/27/knowledge-is-power/ Income Inequality. (2015). The conference board of Canada. Retrieved from http://www.conferenceboard.ca/hcp/details/society/income- inequality.aspx Key Issues in Poverty & Inequality. (2011). The Stanford centre. Retrieved from http://web.stanford.edu/group/scspi/issue_home.html Living with Inequality. (2015). Retrieved from http://www.economist.com/news/united-states/21660180-what-good-more-unequal- america-might-look-living-inequality Rich man’s blood poor man’s war. (2013). Retrieved from http://clipart-finder.com/clipart/RichmansWARPoormansBLOOD4.html The EqualityTrust. (2015). The equality trust’s focus on economic inequality. Retrieved from https://www.equalitytrust.org.uk/how- economic-inequality-defined
- 15. References (continued) Tomislav, I.(2014). Income inequality. Retrieved from http://www.vancouversun.com/business/Opinion+Income+inequality+problem+Canada/10657684/story.html?__lsa=3078-8fcc TheRulesOrg. (2013). Global wealth inequality - what you never knew you never knew. Retrieved from https://www.youtube.com/watch?v=uWSxzjyMNpU World Map. (2006). Retrieved from https://commons.wikimedia.org/wiki/File:World_map_clip_art.svg World map Gini coefficient with legend. (2006). Retrieved from https://commons.wikimedia.org/wiki/File:World_Map_Gini_coefficient_with_legend_2.png World’s Wealth. (2015). Retrieved from http://www.qcc.cuny.edu/SocialSciences/ppecorino/INTRO_TEXT/Chapter%2010%20Political%20Philosophy/Inequality.htm 10 Solutions to Fight Economic Inequality. (2015). Talk poverty. Retrieved from http://talkpoverty.org/2015/06/10/solutions-economic- inequality/