When thinking about the global inequalities that face our world today, income inequality was not one of the first things that came to mind. However, after reading this article, it is evident that income inequality is one of the greatest inequalities facing our world today. As many people are harmed and affected by this issue, it often seems unfair that in many countries, the majority of the income is controlled by a much smaller percentage of the population. Due to this, many more people within the world suffer from poverty and aren't able to meet their survival needs. If income could only be distributed more evenly, then the gap between the rich and the poor could shorten significantly and people could live a lot more equally and justly. However, this social issue is one that has yet to be resolved as many suffer from greed, especially when it comes to money and resources, and many still consider problems of wealth and success to be the fault of the individual's own efforts. Therefore, this problem still remains.
Thursday, January 19, 2012
Blog 1: Top 5 Global Risks for 2012
Along with many things already burdening our world today, the World Economic Forum's annual list of likely global risks for 2012 has given us even more massive potential risks to consider. Things such as greenhouse gas emissions, water shortages, and cyber attacks are ranked in the top five on the list. However, it is income inequality that comes out on top. This inequality is considered to be such a great risk because it is something that according to Michel-Kerjan "does not just happen overnight."(Paragraph 6) Considering that approximately 50 percent of the world's population survives on only 1 percent of the wealth shows how much inequality there really is with the income disparities that exist in our world today. "The social instability that income inequality produces is where the risk comes in," says Michel-Kerjan. (Paragraph 7) He also states that the problems go "even deeper than this, and go to distrust in global institutions which could even lead to a breakdown in the financial system." (Paragraph 7) Income inequality is spreading around the globe as it is affecting not only less developed economies but developed countries such as Japan and Western Europe as well. Thus, this issue of global inequality is something that is going to need to be addressed and prepared for in order to try and prevent the potential harm that could come from this risk.
When thinking about the global inequalities that face our world today, income inequality was not one of the first things that came to mind. However, after reading this article, it is evident that income inequality is one of the greatest inequalities facing our world today. As many people are harmed and affected by this issue, it often seems unfair that in many countries, the majority of the income is controlled by a much smaller percentage of the population. Due to this, many more people within the world suffer from poverty and aren't able to meet their survival needs. If income could only be distributed more evenly, then the gap between the rich and the poor could shorten significantly and people could live a lot more equally and justly. However, this social issue is one that has yet to be resolved as many suffer from greed, especially when it comes to money and resources, and many still consider problems of wealth and success to be the fault of the individual's own efforts. Therefore, this problem still remains.
When thinking about the global inequalities that face our world today, income inequality was not one of the first things that came to mind. However, after reading this article, it is evident that income inequality is one of the greatest inequalities facing our world today. As many people are harmed and affected by this issue, it often seems unfair that in many countries, the majority of the income is controlled by a much smaller percentage of the population. Due to this, many more people within the world suffer from poverty and aren't able to meet their survival needs. If income could only be distributed more evenly, then the gap between the rich and the poor could shorten significantly and people could live a lot more equally and justly. However, this social issue is one that has yet to be resolved as many suffer from greed, especially when it comes to money and resources, and many still consider problems of wealth and success to be the fault of the individual's own efforts. Therefore, this problem still remains.
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