Question

In: Economics

a. Explain whether or not the United States is a meritocracy and the relationship meritocracy has...

a. Explain whether or not the United States is a meritocracy and the relationship meritocracy has to inequality.

b. what has happened to economic mobility over the last several decades. What has happened to the wealth gap over the last sixty years?

c. how more recent trends in deunionization, wages, income, taxes, and safety net programs have made it even harder for people to earn a decent living, let alone become millionaires.

Solutions

Expert Solution

ANSWER. a) yes, USA is most definitely a meritocracy amd any person with a brain can do a cursory glane and see that the vast majority of the USA's wealthy have either created it entirely through their own merits or have enhanced a given amount of wealth (like access to top notch schooling or a head-start from parents who were well-to-do to begin with). And i think that to a very large extent it is a meritocracy. there is no real class or caste system here. as we reward hardwork , talent and determination above almost everything else.there are may be some class issues in social circles  but they are more likely to prohibt someone from professional success.

ANSWER. b) The wealth gap or income gap has been exascerbated by the climate crisis. inequality has reached unprecendented levels, with more than 70% of the global population living in ciuntries where the wealth gap is growing, accordint to a new UN report. And that reprt said that while international ineguality has declined in relative terms, the absolute gap between the average incomes of people living high- and low income counties has doubled since 1990. the report estimates that the gap between the richest and poorest 10% of the global population is 25% larger than it would be in a world without global warming.


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