Table of ContentsThe Gap Between Equality and RealityFactors Contributing to InequalityThe Persistence of InequalityGlobal Perspectives on InequalityReferencesWealth inequality is not just about the amount of wealth a particular nation has possesses, but rather the way in which wealth is shared within a society. Every society has a variety of factors that differentiate it; Inequality leads to a multitude of problems because various aspects of a society are unequal, including views, attitudes, and beliefs. Financial inequality is the level at which wealth is shared unequally among members of a particular group or society. Wealth includes not only a certain individual's annual salary, but also any assets or resources received through employment, investments, state benefits, rent, and/or royalties. Economic inequality can manifest itself through wages, wealth or income. Income is any wages received through investments, savings, employment, rent, etc., while wage inequality is the disparity between wages received solely through employment. When there is too much economic inequality, high levels of poverty occur and children are unlikely to overcome their parents' efforts. It is important to note that levels of economic inequality are not the same across societies. There is a large wealth ownership gap in the United States today. There have been many misconceptions about wealth inequality, but the vicious cycle results from the functioning of society itself. Furthermore, despite such high levels of inequality, it is clear that wealth inequality leads to recessions and high levels of unemployment. The government should guarantee economic equality among its citizens; If we fail to do this, an activist movement should force the state to do more to distribute its resources more equitably. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay The gap between equality and reality The space between the goal of equality and its reality in modern society has become even wider. America has, over the years, shown its commitment to reaffirming the dream of equality for its citizens. However, America today is one of the countries with the highest inequality. Various studies have rejected the myth of the United States as "the land of opportunity." Although many American citizens disagree about what methods should be used to implement equality, there is almost universal agreement that the inequalities seen everywhere are undesirable. Years ago, the United States may have been right to claim that it offered equality, but many of the sweet, hopeful stories about America today are a hoax. According to Lyon, data from The Rich Countries shows that lack of opportunity and poverty are closely linked to inequality (2). These two factors are determinants of economic inequality in many countries. The few people who have had the opportunity to access resources therefore tend to seize more wealth than other people who do not have access. This leads to an economic gap between people and, consequently, economic inequality. Factors contributing to inequality Today's society is profoundly unequal. People are different for various factors and reasons; for example, people are born in different countries where they are exposed to circumstancesdifferent. Lyons argues that some parts of Australia are poorer than other parts of the country in terms of equitable distribution of resources (The Rich Countries, 2). Inequality also concerns how children are affected by the income level and education of their parents. It is more likely that a child from a poor background will not receive a quality education and therefore will not end up in a middle or upper social class. On the contrary, children whose parents are educated and wealthy are much more likely to end up in the middle and upper classes. The prospects of many children depend heavily on their background. And, among a smaller portion of the population, inequality can also be attributed to discrimination. Furthermore, the industrial revolution and the development of technology put many people out of work, as their skills no longer mattered compared to technological advances. As technology eliminates jobs, the gap between business owners and average workers continues to widen. Today, machines and computers perform an amount of work that employees can no longer compete with. For example, in the packaging and manufacturing industries, computerized machines can produce faster and better than normal human labor. This led to a reduction in common production jobs such as steel engine production (Smith 213). Because a small portion of society owns a large amount of capital, they control most of the economy and wealth of society (Smith 21). The United States continues to experience a huge income gap between those with capital and the unemployed. However, there is a demand for highly skilled workers to operate advanced machinery and equipment. The rightward shift in labor demand has created an increased wage gap between skilled and unskilled categories of workers. This reflects how technology has created a disparity between labor supply and demand, which has therefore led to a disparity in wealth ownership. The Persistence of Inequality When money, opportunities and efforts are not shared equally among people, it reveals the inadequacies of capitalist systems. Historically, capitalist systems have undergone many changes, but inequalities have remained constant. At the start of the Industrial Revolution, working conditions were terrible. Rules governing working hours, child labor, safety, and other employee issues were poorly implemented and discriminatory. Despite unexpected developments, such as rising incomes during the proletarian revolution, inequality persisted and the gap between rich and poor widened (Smith 212). This trend has continued over time. Lyon suggests that a progressive tax system would ensure that higher income brackets pay taxes proportional to their salaries (2). It is important to have strategies that will regulate economic inequality in order to bridge the gap between the poor and the rich. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a Custom Essay Global Perspectives on Inequality In Russia, the upper class is able to access special schools, stores, and other luxuries, while commoners are only able to consume their basic needs (Milton and Friedman 15). The progressive movement to encourage equality has stalled as (1776)