Economics Assignment Paper: Causes of Income Inequality (Term Paper Sample)

INCOME INEQUALITY
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Income Inequality
Causes of Income Inequality
In the modern-day world, every nation is faced by the catastrophic of income inequality such the United States. This problem has resulted in suffering and poor living standards of the less fortune households. According to Shiller (2016) the income inequality gap in the United States is widening at a furious pace such that a crisis is likely to erupt in the decades ahead. This income inequality in the nation is caused by innovations witnessed in various sectors of economics such as development robotics and artificial intelligence. These innovations contribute towards income disparities by executing the corporate jobs of laborers. As a result, many households have lost their employment and per-capita since innovations such as robotics replace them.
Other possible causes of income inequalities in the United States are environmental disasters such as pollution, diseases, and global warming. These aspects often interrupt various economic activities hence making it impossible for people to earn their living as well as generating their revenue. Lastly, the use of sophisticated destructive technology and political power has also caused income inequalities since they usually suppress the minority in the society. For example, the political power and current United States presidential candidates are concerned in improving the welfare of the middle income people instead of those in extreme poverty.
Based on the articles finding it can be asserted that the information provided concerning causes of income inequalities match with the coursework study. This affirmation rests on the fact that some of the causes of income inequalities entailed in the article such as innovations and globalizati...