Question

Explain the issue of inequality faced by the democracy of the United States of America.​

Answer 1

Answer:

“Economic inequality” generally refers to the disparity of wealth or income between different groups or within a society. Often characterized by the aphorism “the rich get richer while the poor get poorer,” the phrase often refers more specifically to the gap in income or assets between the poorest and richest segments of an individual nation.

Even though the basic concept has entered the public consciousness, the effects of highly concentrated wealth are hotly debated and poorly understood by observers. Research attributes advantages and disadvantages to pronounced levels of economic inequality. Some on the right claim income inequality is socially beneficial in the main despite possible negative effects.

Global trends have led to an increasing concentration of wealth in an increasingly small number of hands. Although some methods of calculating global economic inequality show little change in wealth distribution,different methods of calculating income or wealth tend to come up with different results.The majority of analysts conclude inequality is increasing. In 2013, nearly half of all global wealth was owned by one percent of the global population.On current trends Oxfam says, in its latest research, it expects the wealthiest 1 percent to own more than 50 percent of the world’s wealth by 2016. Intra-national inequality has captured the attention of political, business and academic leadership in wealthy nations such as the United States, Japan, and Europe.