W13.2 Social inequality

1. Summary

 Social inequality occurs when the resources of a given society are distributed unevenly. Social inequality is usually associated with economic inequality, such as unequal distribution of income and wealth. In addition to economic inequality, social and natural resources are also distributed inequally. Social inequality is found in almost all societies and classified into egalitarian, class and stratified societies. Social inequality can also be divided into five types: wealth inequality, inequality in treatment and responsibility, political inequality, inequality in living, and inequality in membership. Inequality is influenced by many socially defined characteristics of an individual, such as social status, race, and class

 

2. Interseting point

 The most impressive part was the inequality and economic growth. The hypothesis that economic inequality, which was the mainstay of liberal economic theory, was an essential prerequisite for economic growth was very interesting. I wanted to know why economic inequality helps economic growth. Because I thought that equality must be achieved in order for the economy to grow. It was completely different from my idea that economic growth can be achieved only when everyone becomes equal and narrows the gap between rich and poor and lives well together.

 

3. Question

 It is said that economic inequality is an essential prerequisite for economic growth, so why? Also, what are the negative effects of economic inequality on the economy?

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