The Income Inequality Gap Essay - 1123 Words

Recently, studies have shown that income inequality has many connections that have caused the gap in the United States. According to the research I found, income inequality is connected to corruption, trade, wages of workers, and education. The world income inequality had declined since the twentieth century according to the studies found (Clark). Corruption falls increasing on low income individuals more than higher income individuals. Additionally, the trade theory suggests that the free trade might have level up the income inequality higher within countries by the different patterns of wages and demand for workers who are skilled and unskilled (Silva and Leichenko). Moreover, the education of wealthier people has it easier because the†¦show more content†¦Thus, corruption proposes that since the government is spending money away from programs that could benefits more of the lower income individuals. For examples, the government couldn’t provide public goods like ed ucation and health that could help the low income individuals because of the tax system. Yet, the higher income individuals have access to resources that the lower incomes individual don’t have to evade taxes by bribing government officials to lean on their side known as lobbying (Dincer and Gunlap). This research shows that the higher income individuals have a better chance to bribe governments causing the gap in income inequality in the economy because they have the resources to do it. Meanwhile, Silva and Leichenko purpose that free trade has increased the income inequality in the United States economy, but also within other countries. The trade theory research founded by Silva and Leichenko shows that by changing the patterns of the wages and demands for workers that are skilled and unskilled will affect the inequality of income. According to the studies, they found that there is a polarization between the wages of skilled and unskilled workers that has taken a hold of th e income inequality (Silva and Leichenko). Thus, people who are unskilled usually don’t get paid as much as skilled workers because they don’t have the same knowledge level. Stated by Silva and Leichenko, â€Å"advanced countriesShow MoreRelatedLarge Gaps Of Wealth And Income Inequality2159 Words   |  9 Pages LARGE GAPS IN WEALTH AND INCOME INEQUALITY INFLUENCE DEMOCRACY IN THE U.S. Karen Freitas Ashford University September 05th, 2014 Large gaps in wealth and income inequality influence democracy in the United States Human development is majorly concerned with what the state government is doing to make its citizens transform their environment to a productive and creative atmosphere, which can make them acquire all their needs and interests. People are the real wealth of any given nation, thereforeRead MoreIncome Inequality and Society1028 Words   |  5 Pages Income Inequality’s affect on Society Income inequality is on the rise and it is evident in most cities throughout the United States. There are individuals with six to seven figure incomes and then there are individuals whose income is just enough to get by. The middle class is not as prominent as the upper and lower class. This should be the other way around. There should not be so many cities with very wealthy neighborhoods right next door to low class, rundown neighborhoods, with little middleRead MoreThe Context Of Growing Economic Interdependence1672 Words   |  7 Pages(globalisation); inequality is both growing within and between nations. In turn, analysing the following the following statement that â€Å"Inequality can undermine economic, social and perhaps even political stability. It can tear the very fabric that holds society together. 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Income inequality is stronglyRead MoreInequality in Social Classes1668 Words   |  7 Pagesin a society full of equality, where everyone would have the same income, house, and social class, in other words a ‘perfect’ world, free of competition, greed, classes, and more importantly inequality. Unfortunately, living i n classless society falls under the category of a utopia, as long as greed exists in the heart of society, inequality and the division between classes is not going to end. As Mary Douglas once stated, â€Å"Inequality can have a bad downside, but equality, for its part, sure does getRead MoreImpact Of The Income Inequality On The American Dream1742 Words   |  7 PagesImpact of the Income Inequality on the American Dream The book called They Say I say with Readings contains multiple articles. However, chapter nineteen focuses on the American Dream. Chapter nineteen, â€Å"What’s Up with the American Dream?† indicates how the article will be focusing on the American Dream. The American Dream changes over the course of time as the income inequality widens between the higher and lower class. Few events occurred that affected the income, which led to a growing gap betweenRead MoreThe American Dream866 Words   |  4 Pagesdue to income inequality: gender pay gap and ethnic wage gap. Income inequality is the unequal distribution of household or individual income across the various participants in an economy, and is often presented as the percentage of income to a percentage of population (Income inequality, Investopedia). In the United States income inequality has increased significantly since the 1970s after several decades of stability, which means the share of the nations income received by higher income householdsRead MoreWealth Inequality in the US with Sociological Viewpoints Essay1102 Words   |  5 PagesWhat is wealth inequality? â€Å"It is the difference between individuals or populations in the distribution of assets, wealth or income.† [1] In sociology, the term is social stratification and refers to â€Å"a system of structured social inequality† [2] where the inequality might be in power, resources, social standing/class or perceived worth. In the US, where a class system exist, (as opposed to caste or estate system) your place in t he class system can be determined by your personal achievements. HoweverRead MoreInequality Between Education And Education Essay1583 Words   |  7 PagesInequality in Education Money Matters The United States had gone through so many changes over the years and with each change we could say that we have become a better nation. Along the way to becoming a better nation, we have gone through highs and lows; however there seems to be a constant low that is now taking a toll on our children. The low may also end up having an effect on our future and that low is inequality in education among minority races and low income students. Low income studentsRead More Increasing the Minimum Wage Will Reduce Income Inequality Essay1252 Words   |  6 Pageswage does not even lift a family out of poverty. -- Jon Corzine Income inequality has been a major problem facing American society for decades, but has recently become a major concern. I personally believe the major gap between the income of the rich and poor is a not just, but is not a major concern for the government and society. If the Federal Government addresses other major concerns facing American citizens the inequality will be adjusted due to other changes. The government needs to step

Challenges Faced By The Crowd Funding - 1232 Words

CROWD FUNDING As a young Indian, I always want India to be filled with people of new innovative, creative and productive ideas and thoughts. And I strongly believe that if these thoughts can be made into actions with the advancements in Information technology, it can heal India’s soaring problems like unemployment, illiteracy to an extent. But recent reports on India’s ‘ease of doing business’ rankings is very alarming. Even after 20 years of economic reforms, India slipped from 131st position in 2013 to 134th position in 2014.Among BRICS countries, India is doing the worst. And among the issues faced by Small, Medium Enterprises which includes startups, credit issues is a main concern. In a recent secondary research done by me in finding credit issues of SMEs, results showed that out of all SMEs, 92.77% have no finance or self-finance. This has really affected the growth of SMEs in India. Even after increase in number of venture capitalists/angel investors to protect new ideas, this result shows that time has been exceeded to find a sustainable solution for this issue. It is said that: â€Å"The mob rushes in where individuals fear to tread† by B.F. Skinner in Walden Two.This has proved true, with the arrival of new idea of financing: ’Crowd Funding’. Crowd funding is:†the collective cooperation, attention and trust by people who network and pool their money and other resources together, usually via the internet to supportShow MoreRelatedWhat Are The Current Health Setbacks In Healthcare840 Words   |  4 Pagespay for their medical expenditure, alternative methods of fundraising, like crowd funding, have emerged and seen rapid growth in India. Such Platforms offer fundraising assistance to cover any kind of medical treatment. 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Video Transcript of Business Model

Question: Discuss about the Video Transcript of Business Model. Answer: Video Transcript Good morning audiences, this is a video about the nature of the business models used by different companies in order to carry out their business. The video will describe about the concept business model and the views of the three scholars Kodama, Amit and Zott while defining the business models in the various business perspectives. The business models described over here contains various building blocks like channels, customer relationship, customer segments, key resources, key activities and key partners. The video will describe about the views of the scholars regarding the procedures adopted by various companies by using these models. Now, it will elaborate the concept of a business model. A business model is defined as systematic activities that depend on one another while surpassing the firm. However, a business model is known as a profit model. According to Kodama, innovation and integration is the core part of the business model. New knowledge creation is related to the internal knowledge, external knowledge which is a part of the knowledge integration model. For instance, Google is a company that runs on innovation and its business model runs on the knowledge integration model. Google market system consists of search engine and paid advertisement system for earning profit for the company. The search engine of Google is an innovation of Google that is a free service to the customers. On the other hand, the advertisement is a paid service of the company. As per Zott, business model used by Toyota is a perfect example of a sustainable business model. Business model of Toyota consists of partnership that brings a substantial profit to the business as well as to the business sustainability approaches. It increases the viability of the business with the other environmental factors outside the firm. It can be concluded that the real market is referred to as the market system that has an impact on the companys profitability.

Macro Economics - Two of the Four Dragons - Hong Kong and Singapore free essay sample

Two of the Four Dragons Mary Carroll ECON224-1101A-14 March 13, 2011 Two of the Four Dragons Hong Kong has a unique history as they were occupied by the United Kingdom (UK) for approximately 99 years beginning in 1841. An agreement was reached in 1984 between China and the UK where Hong Kong would go back under Chinese rule with some unique exceptions. Hong Kong would operate under China’s â€Å"one country, two systems† formula for the next 50 years. Ultimately this meant China’s socialist society would not be forced on Hong Kong allowing their autonomy for the next 50 years, except in matters of foreign and defense affairs. On December 19, 1984, a new agreement was signed between China and the UK transferring the rule of Hong Kong back over to China. It took some time to develop the specifics of governance and Hong Kong officially came under China on July 1, 1997. This day is celebrated as Hong Kong Special Administrative Region Establishment Day (Central Intelligence Agency, 2011). We will write a custom essay sample on Macro Economics Two of the Four Dragons Hong Kong and Singapore or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For now Hong Kong operates under a free market economy and highly dependent on international trade and finance. The value of their goods and services exported (including re-exports) are four times the GDP. Hong Kong’s GDP in comparison to the world is number 47 and in 2010 their official exchange rate in 2010 was estimated at $226. 5 billion with 5. 7% GDP significantly improving from -2. 8% GDP in 2009. In 2008 the GDP per capita was $44,800 and then declined in 2009 with the global economic downturn to $43,400 GDP (PPP) and then improving to $45,600 in 2010. Hong Kong made a quick recovery after the global financial economic crisis beginning in Q4 of 2009 and grew 10% in 2010 (Central Intelligence Agency). Hong Kong has an extremely low debt, low tariffs and minimal corruption and is considered to be one of the most economically free countries ( Hernandez, 2009). Hong Kong grew from a relatively backward economy prior to the 1970’s to what is considered today as a Newly Industrialized Economies (NIE). This rapid growth occurred in a relatively short period of time and the question is how Hong Kong continues its path of economic freedom. Hong Kong’s key industries are banking and tourism and what manufacturing they previously did under the UK they have now transferred to their mainland (Dave, 2007). The first recommendation to continue the growth of Hong Kong would be to invest in Research and Development establishing itself as a new center of growth to advance technology and its overall intellectual property. This would open the door for investors to tap into new opportunities of growth specifically in the technology industry. The second area to increase growth would be in advancement of the first by increasing secondary level education and building up technological training as Hong Kong has lagged behind in this arena. Recognizing that Human Capital Management is equally important as advancing technology, where there is a highly skilled and highly demanded workforce to accompany the growth and expansion from R D. Thirdly, it is critical to keep the governmental regulations and involvements in trade, banking, R D, education, etc†¦to the right balance. The lack of involvement and regulations allowed items that should have been advancing go unchecked. Finding the right balance of intervention, specific to technology and education is a key for economic growth; Hong Kong is the gateway to China and has the opportunity to advance in these areas and open up newer markets (Dave). Based on the three items of growth selected, the â€Å"Slow Growth† formula would be applicable as it focuses on technological economic progress. This model may very well be the best to apply for a NIE as it takes a more standard, traditional approach to growth where a fast pace approach has preceded. The key components of this model include growth of the labor market, capital input and total factor productivity. By putting an increased focus on R D and technology this will incite investors to keep at the newly governed country’s table and open doors for learning and development which could progress Hong Kong’s workforce into the future (Dave). There are four countries that have been linked together and dubbed as â€Å"Asia’s Four Little Dragons† and they are Hong Kong, Taiwan, South Korean and Singapore. In addition to experiencing extreme growth and rapid industrialization between the 1960’s – and 1990’s these ‘Four Asian Tigers† have in common a very strong Chinese cultural influence (â€Å"Four asian tigers†, nd). For the purpose of the paper, we will shift our focus to Singapore, one of the other dragons. Unlike Hong Kong, Singapore’s growth focused on electronics, information technology, and pharmaceuticals. The real GDP growth averaged 7. 1% for a period of four years from 2004-2008 and like other countries took a hit with the global financial crisis. Singapore rebounded to 14. 7% GDP in 2010. Singapore has grown its financial services sector and is now known as one of Southeast Asia’s high tech centers (Central Intelligence Agency). Singapore’s low unemployment rate of 2. % combined with their GDP – per capita (PPP) has risen to $57,200 in 2010 creating a reputation for a type of lifestyle enjoyed by the ‘middle class’. Singapore economy has flourished in the electronics and information technology sector but with neighborhood competitors taking their share in this market the time to identify new growth strategies are critical. Singapore has relied h eavily on major corporations making their home in this land to take advantage of lower wages and overall investment and this creates significant risks. To continue its economic growth, Singapore can leverage several economic strategies. First, restructure the taxes, service fee cuts to expand the economy by increasing domestic consumption and investment by the private sector by increasing their benefits in items like education and healthcare. Next, diversify and promote growth in lifestyle industries like tourism, building new resorts, attractions such as the Formula One Race and future planned state-of-the-art Sports Hub to be completed in 2012 and a National Art Gallery in 2013. As well as continue to establish Singapore as a technology hub by continued investment in innovation (â€Å"Singapore’s new growth engines†, 2009). Lastly, work closely the Monetary Authority to ensure the appropriate monetary policies are in place to manage inflation and keep exports in balance. Some economist expects the â€Å"Monetary Authority of Singapore to allow a faster pace of currency appreciation and the central bank which uses its currency rather than interest rates to manage price gains, forecast inflation will average between 3 percent and 4 percent in 2011†, (Adams, 2011). Singapore’s is one of the most open economies in the world and choosing to leverage the economic strategy of a ‘Demand Economy’ by continuing to diversify it’s trade is key. Already, trade is three times the size of their GDP and external demand generates more than three fourths of the economy’s total demand. Singapore also enjoys one of the largest ports in the world and can export with ease. Unlike its sister tiger, Hong Kong who has yet to invest in new technologies, R D and education; Singapore can now reap the benefits of a demand economic strategy versus a slow growth one (Singapores engines of, 2010). The similarities between these â€Å"Four Asian Tigers† have remarkably impacted their overall economic models driven highly by an export versus import model. They are known in the west by their inexpensive but productive workforce. These countries have been able to keep agricultural workers satisfied by promoting land reform and property rights and ensuring benefits supporting the agricultural policies. Ultimately keeping unemployment very low, focusing on exports and trade to wealthier countries and interestingly enough close ties to the US (â€Å"Four asian tigers†). | References Central Intelligence Agency, (2011). The world fact book (ISSN 1553-8133). Washington, DC: Retrieved from https://www. cia. gov/library/publications/the-world-factbook/geos/hk. html Dave, T. (2007, July 9). A study on technological progress and economic growth in hong kong. Retrieved from http://www. associatedcontent. com/article/299876/a_study_on_technological_progress_and_pg3. html? cat=9 Hernandez, F. (2009, June 12). Top 5 most economically free countries in the world. Retrieved from http://www. associatedcontent. om/article/1826317/top_5_most_economically_free_countries_pg2. html? cat=3 Singapores new growth engines a stimulant to lifestyle industry. (2009, October 1). Retrieved from http://www. articlesbase. com/art-and-entertainment-articles/singapores-new-growth-engines-a-stimulant-to-lifestyle-industry-1289339. html Adam, S. (2011, March 11). Singapore’s economy may expand 5. 7% this year, central bank survey shows. Retrieved from http://www. bloomberg. com/news/2011-03-09/singapore-s-economy-may-expand-5-7-this-year-central-bank-survey-shows. html Singapores engines of growth. (2010,