Poverty and Income Inequality in the United States – Assignment Example
The paper "Poverty and Income Inequality in the United States" is a wonderful example of an assignment on social science.
The most generally acknowledged explanation for poverty and income inequality in the United States is the incapability of deprived individuals to earn more, which is in turn attributed to inadequate schooling and education. Since decades, researchers have stressed on the significance of generation of educational policies as a tool for implicitly or explicitly increasing the productive value of labor, particularly in capitalist economies such as the United States and the Soviet Union. It has been largely stressed that lack of education accounts for low human capital, and lower cognitive abilities of individuals which further restricts proper and effective contribution towards a nation's economy.
Furthermore, higher education facilitates generation of basic and crucial proficiency to all sectors of the society as well as the economy, including all the major sectors that impel development such as health care, education, governance, private-sector development, and the environment. Hence, the most effective means of narrowing the gap between rich and the poor is the provision of appropriate educational policies, which helps in enhancing the human capital and hence increases their contribution towards the nation’s economy.
The issues of ‘Poverty’ and ‘inequality’ are complex and subjective notions which are only poorly calculated with existing information. The rise of globalization has proved to be a boon for a range of developing nations which have benefited largely through the wide range of reforms which brought about a spurt in their international trade and other outward-looking policies which eventually helped these nations to bridge the gap between the rich and the poor and hence eliminate inequality. The study suggests that the trend of increasing global inequality and the rapidly multiplying number of individuals thrust towards absolute poverty can and may be halted and to a certain extent may even be overturned.