IndexThe gap between equality and realityFactors that contribute to inequalityThe persistence of inequalityGlobal perspectives on inequalityReferencesWealth inequality is not just about how much a particular nation owns, rather it is about how wealth is shared across the board. inside a company. Every society has a variety of factors that make it different; inequality leads to a host of problems, as various aspects of a society are made uneven, including views, attitudes and beliefs. Financial inequality is the degree to which wealth is shared unevenly among members of a particular group or society. Wealth includes not only a given individual's annual salary, but all assets or resources received through employment, investments, government benefits, rents and/or royalties. Economic inequality can be experienced through pay, wealth, or income. Income is any pay received through investments, savings, employment, rent, etc., while pay inequality is the disparity between pay received through employment alone. When there is too much economic inequality, there are high levels of poverty and minimal opportunities for children to overcome their parents' efforts. It is important to note that levels of economic inequality are not the same in different 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 is a result of how society itself works. Furthermore, despite such high levels of inequality, it is clear that wealth inequality leads to recessions and high levels of unemployment. The government should ensure economic equality among its citizens; otherwise, and an activist's movement, should force the state to make greater efforts to distribute its resources more equitably. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an 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. Over the years, America has shown commitment to reaffirming the dream of equality for its citizens. However, America is now one of the countries with the highest levels of inequality. Several studies have rejected the myth of the United States as “the land of opportunity.” While many citizens in the United States may disagree about the methods by which to implement equality, there is near-universal agreement that inequality experienced anywhere is undesirable. Years ago, the United States may have been sincere in claiming to offer equality, but many of the sweet, hopeful stories about America today are a hoax. According to Lyons, data from The Rich Countries shows that lack of opportunity and poverty are strongly linked to inequality (2). These two factors are the determinants of economic inequality for many countries. The few people who have had the opportunity to access resources therefore tend to accumulate more wealth than other people who remain without. This leads to economic gap between people and, therefore, economic inequality. Factors Contributing to Inequality Today's society is negatively unequal. People are different for various factors and reasons; for example, people are born in different countries where they are exposed to different circumstances. Lyons says some parts of Australia are poorer than other areas of the country in terms of the even distribution ofresources (The Rich Countries, 2). Inequality also affects how children are affected by their parents' income and education levels. A child from a poor background is more likely not to receive a quality education and, therefore, not end up in the middle or upper social class. In contrast, children with educated, affluent parents are significantly more likely to end up in the middle and upper class. Many children's prospects are highly dependent on their background. And, in a smaller portion of people, inequality can also be attributed to discrimination. Furthermore, the industrial revolution and the development of technology render many people jobless as their skills become irrelevant compared to technological advances. As technology takes away jobs, the gap between business owners and average workers continues to widen. Today, machines and computers do a lot of work that employees can no longer compete with. For example, in the packaging and manufacturing industry, computerized machinery can produce faster and better than normal human labor. This led to a reduction in routine manufacturing jobs such as making steel engines (Smith 213). Because a small portion of society owns so much capital, they control the majority of society's economy and wealth (Smith 21). The United States continues to experience a huge income gap between capital owners and the unemployed. However, there is a demand for highly skilled workers to operate newly developed machines and equipment. The rightward shift in demand for labor has created an increase in the wage gap between categories of skilled and unskilled workers. This reflects how technology has created a disparity between labor supply and demand which has then led to an inequality in wealth ownership. The Persistence of Inequality When money, opportunities, and efforts are not equally shared among people, the inadequacies of capitalist systems are revealed. Historically, there have been many developments in capitalist systems, but inequality has remained constant. At the beginning of the industrial revolution workers had terrible working conditions. Rules governing working hours, child labor, safety and other employee issues were implemented inadequately and in a discriminatory manner. 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 earners pay taxes proportional to their salaries (2). It is important to have strategies that regulate economic inequality so as to close the gap between poor and rich. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay Global Perspectives on InequalityIn In Russia, the upper class can access special schools, shops, and other luxuries, while ordinary people can only consume basic necessities (Milton and Friedman 15). The progressive movement to encourage equality has stalled as the rich continue to exploit the poor. The poor are subjected to standards of living they never dreamed of under a capitalist system. The difference between rich and poor is greater in a capitalist than in any other economic system in the world. In this system, the rich continue to get richer and the poor continue to sink into poverty. Therefore, the gap between the two classes (1776)