Economic Variables On Wealth Inequality Sample Assignment

Capitalism in the twenty-first century is so deeply ingrained into the world’s foundation that its involvement is clearly inevitable. Capitalism is defined as an economic system where wealth is privately owned. Though it is a personal gain, it does not necessarily mean that the accumulation of wealth will be found by those who produce the most. The system causes an exponential distribution of wealth, with small amounts of people owning the most assets.

This concept has led to questioning as well as research on how the world is impacted by wealth inequality and what causes this contrast in wealth. Different wealth systems, such as socialism and communism, present in the ideologies of the world, some may believe that one may outweigh the other. However, it is evident that the world is in need of a systematic alteration to prevent these negative impacts on the world.

The ‘American Dream’ is a concept that many find as a pull factor to migrate to the United States. Equal opportunity looks promising, anything seems possible if one works hard enough. However, this capitalistic idea isn’t as feasible as it is presented. Laurie Macfarlane was a senior economist at the New Economics Foundation who focused on the economy’s alignment to the society. He writes about how the question of how wealth should be distributed has lost popularity due to the ‘Marginal Productivity Theory’. This theory is simply that one will be rewarded with what they work for. To challenge this claim, Macfarlane references to the wealth of the American South during times of slavery. How slaves worked, but only slave owners were wealthy.

This is relevant to a business owner and workers today. The author states “While future returns to capital and land get capitalized into stock and property prices, future returns to labour – wages – do not get capitalized into asset prices. This is because unlike physical and financial assets, people do not have an “asset price”. They cannot become property.” This information shows how capitalism favours these large-business owners. Those within places of power will continue to gain wealth as they profit on their assets.

Thomas Piketty is a French economist whose work focuses on wealth and income inequality. In 2013, he wrote Capital in the Twenty-First Century. Within this text, Picketty states that since almost the 18th-century private wealth highly exceeded national income, a basis of capitalism, which continued to impact the system into the twentieth century. In relations to wealth inequality, Piketty states that the top one percent hold large shares of the global wealth, while approximately the bottom third holds 0 percent of the wealth. He also believes that inequality is likely to continue as the capital income is greater than the savings, and by reinvesting the capital income it leads to wealth accumulation. Like Macfarlane, Picketty opposes the ‘Marginal Productivity Theory’, as evidence is clear on how the richer will continue to become richer while the poor will stay poor due to their large claim of assets.

Jason Hickle, just like the other the other authors, has researched on how wealth inequality impacts the world. As a student of London School of Economics, the University of Virginia, and Goldsmiths, the University of London, where he convenes the MA in Anthropology and Cultural Politics, Hickle is well versed in economics and world issues. He also serves on the Labour Party task force on international development, works as Policy Director for The Rules collective, sits on the Executive Board of Academics Stand Against Poverty (ASAP). He stated in his video that “about 4 billion people survive on 5 dollars a day.” This is mostly relevant to third world countries that are being profited from. These periphery countries are constantly being used by core countries to find cheap labour and production with fewer regulations. (find stats and source)

The distribution of wealth is more unequal now than it has been in the past 30 years. Nadia Karamcheva is a member of the Congressional Budget Office who, by the assistance of her fellow members of Congress, wrote the report “Trends in Family Wealth, 1989 to 2013”. The purpose of the report is to provide an examination of how wealth trends changed within those twenty-four years. In the report, the author states that “In 2013, families in the top 10 percent of the wealth distribution held 76 percent of all family wealth, families in the 51st to the 90th percentiles held 23 percent, and those in the bottom half of the distribution held 1 percent.”

This information only begins to describe the severity of the distribution of wealth. Since 1989, the 90th percentiles have increased in wealth by 9% while bottom half decreased by 2%. This may be due to the aforementioned bias toward wealthy individuals entwined in the capitalist economies. Meanwhile, in a report conducted in 2017, US Census Bureau also found the changes of income between 2016 and 2017 finding that the 50th, 80th, 90th, and 95th percentiles increased 1.8 percent, 2.6 percent, 2.8 percent, and 3.0 percent, respectively, while changes in income at the other percentiles were not statistically significant.

Works Cited

  1. Karamcheva, Nadia. “Trends in Family Wealth, 1989 to 2013.” Congressional Budget Office, 18 Aug. 2016, www.cbo.gov/publication/51846.
  2. Macfarlane, Laurie. “Why the Distribution of Wealth Has More to Do with Power than Productivity.” Resilience, 1 Oct. 2018, www.resilience.org/stories/2018-10-01/why-the-distribution-of-wealth-has-more-to-do-with-power-than-productivity/.
  3. Piketty, Thomas. Capital in the Twenty – First Century Thomas Piketty ; Translated by Arthur Goldhammer. London, 2014.
  4. UK, Penguin Books and Jason Hickle, directors. The Divide: Global Wealth Inequality Explained | Dr Jason Hickel. YouTube, YouTube, 17 May 2018, www.youtube.com/watch?v=ZUlOzcQIZp0.
  5. US Census Bureau. “Income and Poverty in the United States: 2017.” Census Bureau QuickFacts, United States Census Bureau, 12 Sept. 2018, www.census.gov/library/publications/2018/demo/p60-263.html.
  6. US Census Bureau. “Where the Wealth Is: The Geographic Distribution of Wealth in the United States.” Census Bureau QuickFacts, United States Census Bureau, 27 Apr. 2017, www.census.gov/library/working-papers/2017/demo/FY2016-129.html.
  7. “Wealth Inequality.” Inequality.org, inequality.org/facts/wealth-inequality/.

Value Of Economic Inequalities

The politics of ensuring that Texas becomes an economically empowered state is traced back to the 1990s where a neoliberal theory was initiated. The government-initiated policies to ensure that the states are devolved. This would reduce poverty and dependency among the people in all the states. (Harvey, 2013, 18).

Texas was the most affected nation with the number of economic and social inequality being persistently high. Social inequality systems are dated back to education matters and access to other social amenities where disparity exists. The state has implemented some measures with some having a negative and positive implication to both the economy and the society. Texas believes that it is an epitome of progress based on the policies initiated and the strides made in different sectors. However, some of the practices that are undertaken by the state are not a true reflection of the Texas miracle. Succinctly, the paper will delineate the economic and social disparages in Texas that are not about the Texas miracle and make a comparison to the federal government.

One of the efforts that Texas accredits itself is its ability to cut the spending, low taxes, lower regulations and ensure that one does not spend all the money that he or she (Longman, 2014, 2-3) However, the underlying fact is that these measures cannot be considered useful when there is a social class. Before the implementation of reforms that favors the citizens, social and economic inequality. The gap between the poor and the rich has widened (Campbell, 2018, 1-2). The level of poverty in Texas had risen. Facts indicate that despite the efforts made to improve the state of living in the state, much is required to salvage the situation.

In comparison to other states, the Senator believes that the rampant movement of people from other states such as California is due to the progress made. Hispanics and blacks are believed to be the poorest among the social groups that live in Texas (Daniel and Ura, 2018, 3). Imposing regulation and implementation of tax reforms cannot help an individual who is living below the poverty index level.

A poor individual is not subject to savings due to economic saving based on the circumstances. As a result, the inequalities remain prevalent. The measures should focus on both parties. A common regulation cannot solve all issues without factoring both divides. The assertions that were made by Perry makes it believe that indeed it was a Texas miracle if the poor were subject to taxation, yet they are surviving below the threshold. The state authority saw reducing taxes, imposing regulations and tort reforms as a measure that reduces social inequality and empowers the people economically.

The instances of crime reduction served as the basis of improvement in the security measures. Texas implemented policies that could regulate crime in the state (Allan, 2018, 4). The policies could ensure that the state remains responsive to the laws. Protection through maintenance of law and order showed the progress that was made by the state. The state worked with the Federal government to initiate policies that could favor both sides. The latest development of the program that is seen as one of the measures of empowering prisoners is giving them access to jobs. The Texas Department of criminal justice in partnership with Texas correctional industries offer employees to prisoners. The efforts depict the seriousness that Texas has given to improve the social welfare and the economic state of the inmates.

Creation of jobs to the inmates is seen as a way of reducing poverty. The ability to give opportunities to the inmates to be involved in the training programs where they learn apprenticeship that is translated to practice shows the seriousness that Texas has done to improve the conditions of prisoners (Industries and labor, P. 2018, 2-3). The underlying fact behind the developments is that there is no clear plan for the inmates who leave prisons upon the expiry of their term. The federal government has policies that are enshrined on matters of crime. Texas perceives itself as a miracle state based on the developmental progress it has undergone. When the prisons are guaranteed jobs upon expiry of their life sentence, there it will be easier to assert that there has been progress made. The inmates stand to benefit when working in the prison territories. It is debatable that crime rates are still constant as the inmates upon release revert to the previous crime activities undermining the general aspersions that Texas is a miracle state.

The disobedience of the international law that gives individuals consular rights caused a center of conflict with the UN and the international bodies. The federal government intervened to have the death penalty rescinded. However, the actions that Texas showed are a clear indication of how conflicts can arise. Other international bodies blamed the U.S when it failed to solve the issue resulting in loss of life.

It is a clear indicator of how Texas regards itself as an independent state at the expense of other States (Campbell, 2011, 642-644). The other instance, where the federal courts of government played a significant role was when it intervened for equal protection on education matters of children. Previously, Texas had limitations to undocumented children (Belejack, 2018, 8). However, the courts intervened when one case presented to the court had barred an undocumented child from access to education. Despite the developments that have been made by Texas to promote education by the provision of funds and other amenities, the ability to limit education to any party does prove that the state had disparities in the social welfare.

The federal government does not have laws that limit pollution through mining and fracking instances. Most regions in the U.S with south Texas being an example of areas that suffer due to the poor disposal of wastes. Research by Johnston, Werder, and Sebastian, (2016, 553) posits that waste disposal is a national disaster with areas affected being South Texas among others. Most disposal sites are within rural areas. Environmental injustice is based in areas of a particular race and color. This shows the degree of segregation that exists both in Texas and in the U.S as a whole. The poverty levels in these areas are high as the wastes affect their economic life. Productivity in such areas as low as the environment is polluted.

On the other hand, human health is at stake as the health complications that arise due to pollution are evident. Ideally, it is a precise measure of how social welfare varies between people residing in urban and rural areas. Enactment of laws by both the state and the federal government can help solve the environmental injustices that affect the people in South Texas and other states.

The US government has policies that allow for taxation of systems within the government. Taxation is mainly done to support the systems and ensure that the operations in the country are effective. The efforts by Perry to regulate taxes was aimed at ensuring that the state was able to run the systems and reduce the economic disparities that exist. Contrary to the U.S government, which has taxes on all the products and services, Texas believes in establishing an economically stable nation. According to McNichol (2018, 4), the incomes due to taxation have benefitted affluent households at the expense of lower and middle-income individuals.

The American economy has contributed to disparities in the incomes by asking more from the lower and middle-income individual at the expense of the wealthy individuals. Texas has set policies that ensure that the high-income earners pay their share whereas other groups are not subject to increased responsibility. Other measures that have been taken by Texas in reducing inequalities of both the social class and economy is through expansion of taxes on inherited wealth, increasing taxes on corporations as well as capping itemized deductions. Through such approaches, inequalities have reduced.

Texas encouraged the creation of systems such as hospitals, educational Centers among others. This could lead to monetary flow in the state. Policies were initiated for the benefit of the state. When systems are initiated, the government stands to benefit through taxation processes (Kelton, 2018, 2). Texas cut government spending in most of the programs for sustenance. Whereas the federal government receives tax from Texas, it was barred from spending in some of the sectors with the notable sector being the health sectors. Democrats at first opposed the policy, but it had an impact (Abrahamian, 2018, 8). Cutting government spending in the health sector was a threat to women health care.

The national government funds the health sector in all the states, however, the efforts by Texas proved useful to the state as it survived on a constrained budget. The politics of abortion in the U.S are traced back to the 1990s. To date, there is little or no abortion in Texas as the State opposed the funding from the government. Most women were supported under the Medicaid fund. When the state passed a motion to ban government funding, it was a threat to the women. Politics arose, as the people were not of the opinion that such a practice should be abolished. To date, the number of abortions in Texas are minimal in comparison to other government states (Tolentino, 2018, 4-5). This shows the impact of the policy on the health sector in Texas.

In conclusion, Texas has made economic strides by implementing policies that benefit the state. However, their areas that have not been addressed sufficiently by the government and state at large. Both the federal government and the state should implement laws and policies that aim to fight the environmental injustices that are prevalent in parts of south Texas and other regions. Fighting social inequalities requires much efforts and the government as the policies existent favor a particular group at the expense of others. However, some of the efforts made by the state indicate that Texas is fighting hard to prove to the government that it has made progress. In doing so, it can be termed as a miracle state based on the developments.

Lower Back Pain In Volleyball Players

More than 410,000 female athletes participate in interscholastic volleyball each year. Most female athletes who play volleyball combined with a weight training program have complained about lower back pain. Most injuries are just the tightening of the muscle or ligament strain, but many can become stress fractures called spondylosis (Advanced, 2019). But, what is causing this pain? Is it training? Or weight lifting? Or is it just the players being uninformed about how to keep care of their bodies and when to rest? Female athletes need specific training and should be informed on how to maintain a healthy body and what to do if injured.

Spondylosis can be more of a risk if the player feels pain down the legs or numbness. This mostly happens when the back is hyperextended (Orthopaedics). Leaning forward time after time to dig balls and rotating each swing and serve is to blame for this. Doing this, the back becomes dominant and the abs and core become helpless and weak. This can also lead to pinching between the vertebrae. When this happens the muscle is constantly flexed and is never able to relax even when not in motion, causing it to become upset and irritated (Valentine, 2019).

Some coaches may be to blame for this. Improper warm-up and cool-down can cause the muscles to become unsettled. Many athletes believe these are a waste of time, but they will actually help keep them healthy in the long run and maintain good physical condition. Coaches should also know that The American Academy of Pediatrics (AAP) recommends avoiding powerlifting until they reach skeletal and physical maturity.

Safe techniques are difficult to maintain with power lifts, especially being an adolescent because the vertebrae are fully grown yet and still very weak (Mannie 2000). Although lifting is beneficial, the weight should be dropped in order to maintain health throughout the young athletes’ life. If the athletes’ pain is affecting their daily routines, they should go to the doctor and stop physical activity, especially heavy weight lifting. Athletes should absolutely make a visit to the doctor if they ever feel any numbness fever, sudden weight loss, or inability to sleep (Freedson, 2000).

There are some ways to treat lower back pain, but it all depends on that specific athlete. Core strengthening and body mechanics strengthening can help. Another simple way is just postural training. For example, not slouching and sitting straight up. Another super simple one is emptying out that 30-pound book bag that athletes carry around all day. (Valentine 2019). Doing these simple fixes may make that athlete feel much better and bring back their top performance.

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