Tuesday, February 8, 2011

Income Inequality

To what extent to you believe income inequality is one of the three biggest problems facing Europe in the era we are studying?
I agree that income inequality is one of the biggest problems in the Europe that we are studying, because it appears since the rich control the money in a government, there is more likely to have a diverge in the social classes. This diverge will lead to the rich getting richer and the poor getting poorer. According to the Economist, the people who wrote on Wall Street are getting richer, and during the economic recession that came about it saw more people getting poorer and poorer. This is also evident to be a problem in Europe during the late 60s into the 80s, because with every step to fix the economic problems, income inequality still plagued Europe. Though to show a counter claim, in Franco's regime, income inequality to a extent lessened when most peoples income increased exponentially. While in the rest of Europe, The CAP was put into place to help with the economy but it seemed to not help the idea of income inequality at all because of corruption from the people that control the money. This is seen in the Economist in the news today and can evidently be seen in Europe many years back, that due to people controlling the money it leads to corruption which will lead to income inequality which is one of the biggest problems.

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