Global Income Inequality

Income inequality is refers to the unequal distribution of household and individual income in an uneven manner among a population. From the year of 1980 to 2010, we found that the United States has a relatively high level of income inequality which it faced the greatest economic challenge in the over past decades, the economic pie has indicates that there are a relative gap between the richest people and the poor people in the country. Income inequality has surged as an economic and political issues that leads inequality has poses a major threat in the global issues. Besides, Income inequality has become progressively obvious since in the year of 1980. For example, the distribution of income had 30 to 35% of national income going to the top 10% of earners, the top 10% earners has increased to the 50% , which create a huge gap between the high income workers and low income workers. Moreover, Income inequality has a snowballing effect on the wealth distribution means the top incomes

This notion of equality appropriates the language of America’s founders, but it nevertheless strikes at the heart of the founders’ understanding of equality, which was based on equality of rights. For the founders understood that equality of outcome is impossible and undesirable, given the different abilities with which each person is born. Global inequality is getting worse. Inequality will not disappear overtime, and on the other hand it all depends on the balance of political power in the global economy. As long as a few wealthier countries have the power to set the rules to their own advantage, inequality will continue to worsen. The debt system, structural adjustment, free trade agreements, tax evasion, and power asymmetries in the World Bank, the IMF, and the WTO are all major reasons that inequality is getting worse instead of