Question

In: Economics

Are you concerned about inequality in Australia as an ethical issue? Refer to Wight’s taxonomy in...

Are you concerned about inequality in Australia as an ethical issue? Refer to Wight’s taxonomy in your answer. Using internet research or otherwise, do you think inflation causes inequality? Do you think the ownership of assets causes inequality? Are you in favour of an inheritance tax to alter inequality?

Solutions

Expert Solution

- yes inequality in the Australia is an ethical issue because of the following reasons:
The population is not systematically arranged according to the prescribed data.
The population need a view to differentiate among the gradings.
The main base of inequality in outside people and inside citizens of the country.
Wight’s taxonomy is based on the differentiation of the natural occurrence and the occurrence due to the values of the pre decided data analysis.
Yes I am in a view that inflation causes the inequality and this statement is supported by the following points:
Accumulation of assets in few hand means the concentration of wealth in few hands which increases the prices of the commodities.
Ownership also decided the occurrence of job to particular sector which again causes the inflation.
The production of goods also in a few hands and the types of goods also based on the certain criteria which again causes the rise in price of the commodities.
Yes I am in a favour of an inheritance tax to alter inequality because it reduces the concentration of wealth in few hands.


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