Social and Economic Inequality Essay Example | Topics and Well Written Essays - 1500 words

Social and Economic Inequality - Essay Example People might ask why does this type of inequality exist in the society or what are the reasons behind its existence. Some might say that it is because of the technological advancements whereas some might point towards the rate of unemployment all around the world. Technology has advanced a lot in these past years which has lead to the replacement of man with machines. This in turn has lead to the rise in the number of jobless people in the society. There are people who are willing to work at minimal wages just to earn what little they can (Reich 406). Another problem that can be contributed to the increasing income inequality is the availability of overseas workers who can accomplish tasks with the same level of perfection and yet ask for minimal salary in return. This shift of job placements from developed nations to developing nations also increase the gap between the upper class and the lower class employees who are now forced to work at a pay which is far less than what they actu ally deserve. The government is also considered selfish in this regard because they have attracted all the big booming industries by reducing taxes but little do they realize that these companies will soon be converted into completely automated industries which will require very little man power and hence the number of jobless people will continue to rise in the coming years but the government is more concerned about the productivity and the profit that they gain rather than the amount of unemployment that they will have as a result of this.