Essay On Rich And Poor People

Essay On Rich And Poor People-42
There may be a lot of intellectual man-power, hidden talents and skills among the poor, who can definitely outshine the abilities of the rich people, if given a fair chance.These human resources that may significantly contribute to the development of a nation go untapped.

They draw the conclusion that the only way to get richer is by wrong and illegal means. Here is a band 7.5 essay on this topic submitted by one of our students.Poverty continues to be a grave concern throughout the world. This phenomenon will have a negative impact on global economy.After you adjust for inflation, the wages of the typical American worker—the one at the very middle of the income distribution—have risen less than 1% since 2000. If you take into account the value of employee benefits, such as health care, the contrast is a little less stark.But, whatever the measure, it seems clear that only the most skilled workers have seen their pay packets swell much in the current economic expansion.This huge income disparity between the rich and the poor has numerous negative impacts on the society.On the one hand, rich people earn a lot of money and this enables them to have access to the most expensive luxuries of life.The statistics suggest that the economic boom may fade.Americans still head to the shops with gusto, but it is falling savings rates and rising debts (made possible by high house prices), not real income growth, that keep their wallets open.“If things carry on like this for long enough,” muses one insider, “we are going to end up like Brazil”—a country notorious for the concentration of its income and wealth. Despite a quarter century during which incomes have drifted ever farther apart, the distribution of wealth has remained remarkably stable.The richest Americans now earn as big a share of overall income as they did a century ago (see chart 2), but their share of overall wealth is much lower.

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