What is a definition of this term’s use in economics:

What is a definition of this term’s use in economics:

  • the use of the resources of other people (furniture, buildings, other people) as a source of (conscientious, highly paid) resources of the economy;
  • the use of the resources of other people (furniture, buildings, other people) as a source of (highly demanded) resources of the economy;
  • the use of the resources of other people by creating (large) enterprises employing a large number of medium or small entrepreneurs.
  • A system of economic activity is formed:

  • there is a major part of it, which is manifested in the form of firms, organizations, etc.;
  • the labor of middle and lower classes in agriculture, in industries with the least potential risk of losing money (low-value) to the top of the social ladder;
  • the middle class invests funds in real estate, liquid assets.
  • In the cultural sphere, the middle class is the repository of values, norms, traditions, laws of society. Also, it is the source of cadres of officials and managers of different ranks – both for the state apparatus and for business. Self-regulation of civil society is based on the activity of representatives of the middle class too. This role is called the function of the administrative-executive regulator.

    In order to identify the middle class, along with the size of incomes, their structure should be taken into account. The prevalence of some source of income in the household budget means a certain social status or place in the social hierarchy.

    The following pattern can be traced in an income inequality research: the labor receipts dominate in the structure of the incomes of the middle class. Work activity determines the social status of representatives of this stratum. Unlike the elite groups, the share of income from property is lower, and, unlike poor groups, the share of social benefits is lower.

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    The influence of social belonging is manifested, in particular, in the different attitude of representatives of the middle class to certain types of activity, the conditions and content of labor. Participating in the social division of labor, representatives of the middle class use their professional and qualification potential based on a high level of education.

    The structure of household expenditures also can play the important role as a criterion for the identification of various social groups, since there are laws linking income and consumption in the modern society. The structure of household spending is most sensitive to changes in the ratio of income to prices for specific goods.

    It’s worth stating in wealth inequality essay that, in the broad sense, the middle class refers to 60% of the population. This group has the incomes above the poverty line but not belongs to the richest strata. Since middle class is very heterogeneous in terms of level and structure of income, expenditure and consumption, composition by sex and age, it’s obvious that only a part of this group can be defined as a “classical” middle stratum.

    Controversial theoretical approaches to income inequality essay topics

    The topic of the income inequality in the United States essay is invariably relevant not only among American historians, but also among public figures, politicians, in the broad circles of the US public. Important ideological motives always were at the heart of their perception of this problem.

    The main one is connected with a different interpretation of the category of “equality” which, since the emergence of American civilization, has acted as one of its core values. In the minds of many Americans, it meant and means equality of opportunities. It may be emphasized in the upside of income inequality essay that this interpretation provides a basis for justifying economic imbalance, since, in the presence of equality of opportunities, individuals with different abilities achieve different results.

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    But the number of Americans who believe that the society is obliged to ensure a certain leveling of the results of citizens’ activities through reforms increased in recent years. They state that there is no exemplary equality of opportunities in real life, and poverty is unacceptable in a developed modern society.

    Such a worldview difference seriously influences the approaches and conclusions of American researchers addressing the problem of economic inequality. The discrepancies between theories are also determined by the difference in methodological and methodical approaches, used sources.

    In general, all researchers can be divided into optimists and pessimists. The representatives of first group believe that the economic inequality in the US did not acquire a threatening or dramatic character and did not contradict public justice. The second group is convinced that there were sharp economic contrasts at all or many stages of American history, and this inequality deserves a critical evaluation.

    In the course of writing an income inequality exploratory essay, you need to develop own point of view, to formulate it in a clear thesis and to provide worthy arguments. The best evidence is examples from life. To use them skillfully, you have to consider the history of the United States in detail.