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Proposed Problem 1984 Sources's Blog Return to Group
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How to Solve Income Inequality
CONSIDER THIS SHOCKING statistic on income inequality: The eight richest men on earth control as much wealth as half of the global population, or the poorest 3.6 billion people.
While those are global statistics, the problem is mind-numbing in the U.S., too. The top 1 percent of American households earned an average of $1.26 million in 2014; the bottom 90 percent got an average of $33,068. And since 1965, income inequality has worsened: The ratio of CEO pay to worker wages skyrocketed from 20-to-1 to 303-to-1 in 2014.
This increasingly gratuitous income inequality...
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(Article 1)The psychology of social class: How socioeconomic status impacts thought, feelings, and behaviour
Prospects for social change
The cycle of disadvantage that starts with poor material conditions and ends with lower chances of entering and succeeding in the very contexts (universities and highâstatus workplaces) that could increase social mobility is not going to be changed in the absence of substantial pressure for social change. It is therefore interesting that when people are asked about social inequality, they generally say that they are in favour of greater equality.
Norton and Ariely (2011) asked a nationally representative sample of more than 5,500 Americans to estimate the (then) current wealth distribution in the United States and also to express their preferences for how wealth should be distributed. The key findings from this research were (1) that respondents greatly underestimated the degree of wealth inequality in the United States, believing that the wealthiest 20% of the population owned 59% of the wealth, where the actual figure is 84% and (2) that their preferred distribution of wealth among citizens was closer to equality than even their own incorrect estimations...
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