Question

In: Economics

The greater the economic difference between the haves and have-nots of a nation, the greater the...

The greater the economic difference between the haves and have-nots of a nation, the greater the prosperity for violent overthrow of the political institutions. Discuss the statement in the light of the situation in a country with which you are familiar. Who, among those whose thoughts you have studied, addresses the question of economic inequality and/or violent political change?

Solutions

Expert Solution

THE  GREATER THE ECONOMIC DIFFERENCE BETWEEN THE HAVES AND HAVE-NOTS THE GREATER THE PROSPERITY FOR VIOLENT OVERTHROW OF THE POLITICAL INSTITUTIONS .......this situation rightly fits for a country like AMERICA where the socity is divided ito two groups the "HAVES" and the "HAVE-NOTS".

Today Americans are spread evenly on the two class equation with as many saying the country is divided along economic lines as say this is not the case (48% each).In sharp contrast in1988 ,71% rejected this notion while just 26% saw a divided nation.

Of equal importance the number of Americans who see themselves among the " have-nots" of society has doubled over the past two decades from 17% in 1988 to 34% today .

in 1988 far more Americans said that if they had to choose they probably were among the "haves"(59%0 than the "have-nots" (17%).Today this gap is far narrows(45% "haves" vs. 34% "have-nots")

These shifting attituddes have occured gradually over the past two decades although the perception of personal financial stringency appeared to have risen more rapidly in recent years.As recentyl in 2001 a 52% majority still viewed themselves as resting on the positive side of the economic balance copared with 32% who felt they were monetarily in need .Since then the no. of self described :haves" has fallen by seven percentage points a decline as large as that which occured over the previous 13 years.

The increased prevalance of both the views the country is incrisingly divided along economic lines and that a given individual is on the wrong side of the line.as numerous studied have demonstrated in recent years income gains over the last few decades hane been havily concentrated at the very top of the income distribution.

FACTORS DRIVING PERCEPTIONS OF ECONOMIC DIVIDE::

These objective facts of economic light might seem at first glance to be the primary source of the rising perception of a have/have-nots nation.And the trends are surely reflected in the growing no. of Americans who view themselves personally on the wrong side of that divide.But in the judgements about the larger state of the country Americans have traditionally turned a deaf ear to commentries or analyses that might be characterized as evocation of class warfare,whether grounded in objective facts or not .Economists have pointed to other factors contributing tp modest economic gains among middle economic households such as an aging populationanf smaller families that do not necessarily suggest a growing economic divide among wage and salary earners as well as to higher levels of consumption and expectation across the income board.

Analysis of polling data over the years also strongly suggests that the growing perception of societal divide is driven as much by political factors as by economic ones.Not that the phenomenon is restricted to those of one political persuasion :Republican as well as democrats have recorded an increase among party adherents who see a have/have-nots divide.

Betwwn 1988 to 2001 the no. of republicans viewingthe country as so divided increased from 19% to 34% declining slightlt since then to 33% but still resulting in a net increase of 14 points over the period.

But the rise in the no. of democrats perceiving a divided society started from a higher base and has risen continously .in 2007 fully 63% of democrats see a social divide a share nearly twicw a s great as that seen among republicans .The increased perception of societal division in recent years coincides with a widening partisan gap in views of AMERICAN society.

This tendancy to view the national economy through the prism of politics is not a new phenomenon : over the lst two decades the gap between the republican and the democrats on opinion about the income distribution ha sconsistently been larger than the gap between  the larger and lower income respondents. Nor is this partition unique to opinions about the nations economic divide.


Related Solutions

what is the difference between economic output and economic growth?
what is the difference between economic output and economic growth?
Discuss the difference between transaction and economic exposure.
Discuss the difference between transaction and economic exposure.
Consider a nation with a large economy, like Canada, and a nation with a smaller economic...
Consider a nation with a large economy, like Canada, and a nation with a smaller economic output, like Costa Rica. How can Canada, with an absolute advantage in the production of most goods and services, benefit from trade with Costa Rica?
(cyber security ) What is the difference between Cyber Espionage and Nation State Hacking? Explain the...
(cyber security ) What is the difference between Cyber Espionage and Nation State Hacking? Explain the differences with the help of appropriate examples. Please provide your own words. No copy from the internet. 150 to 200 words.
A. Explain the difference between the desire for a good and the economic demand for a...
A. Explain the difference between the desire for a good and the economic demand for a good. B. Hot dogs and hot dog buns are complementary goods. If the price of hot dogs falls, explain what is likely to happen to the demand for hot dog buns. Why is this the case? C. Carrot cake is a substitute for spice cake. If the price of spice cake falls, explain what is likely to happen to the demand for carrot cake....
Is there a significant difference in Highway MPG between cars weighing greater than 1.5 tons and...
Is there a significant difference in Highway MPG between cars weighing greater than 1.5 tons and cars weighing less than 1.5 tons? Using inferential statistics, determine whether we accept or reject the null hypothesis by showing: hypothesis, critical value, formulas, test statistics, decision/conclusions. Here is the dataset: HighwayMPG (for cars less than 1.5 tons) Highway MPG (for cars greater than 1.5tons) 25 20 34 20 31 21 46 21 36 22 33 22 29 23 50 23 30 23 43...
what does it mean to have percent difference greater than the percent uncertainty?
what does it mean to have percent difference greater than the percent uncertainty?
Explain the difference between inclusive and extractive economic institutions. What are the political and economic outcomes...
Explain the difference between inclusive and extractive economic institutions. What are the political and economic outcomes associated with each type of institution? What are the sources of economic institutions?
What is the difference between economic growth and economic development? Please explain with detail and examples
What is the difference between economic growth and economic development? Please explain with detail and examples
What is the difference between economic and accounting profit? Why is a distinction between them important?
What is the difference between economic and accounting profit? Why is a distinction between them important?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT