Question

In: Economics

is rising inequality due to automation inevitable? role of government? The topic is about globalization inequality....

is rising inequality due to automation inevitable? role of

government?

The topic is about globalization inequality. Please type the answer about 300-400 words. Thanks

Solutions

Expert Solution

Corporations are institutionally arranged in such a way that rises of corporations give birth to income or wealth inequality. When corporations experience growth their share is distributed among the stake holders. So one set of stake holders suddenly become wealthier than the rest of the economy when a corporation makes huge profits. The income generated by people working in corporations is enjoyed by only a small section of society. The majority of unskilled, working in primary sectors remains with stagnant income. The profits made by corporations do not get distributed to the people from whom a corporation might buy its raw materials but gets shared among its stake holders. So the opportunity to create inequality is ingrained in corporations. So if corporations alone develop in an economy then inequality is ought to rise. Development of primary sector and other sectors is also necessary.

Government can control inequality by capping the growth of corporations or by simultaneously developing other sectors. Inequality can he bridged by three methods either by pulling down the incomes of the very rice or by giving a push to the incomes of very poor or efficiency equitable distribution of total income generated in the economy. So in this scenario corporate taxes and taxes on income of share holders can assure equitable distribution of income. Higher rate of marginal taxes keep a check on incomes of the very rich.

Government wills enjoy following benefits due to automation:-

1.   Optimized workflows and efficiency

2.   Cost containment and savings

3.   Improved worker morale

4.   Reliable compliance


Related Solutions

are corporations responsible for rising inequality? role of government? The topic is about globalization inequality. Please...
are corporations responsible for rising inequality? role of government? The topic is about globalization inequality. Please type the answer about 300 words. Thanks
One argument in the debate surrounding globalization is about the inequality between developed and developing nations....
One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality
One argument in the debate surrounding globalization is about the inequality between developed and developing nations....
One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Do you think the recent increase in barriers to trade is a help or a hindrance to reducing inequality? Why? International business Environment
One argument in the debate surrounding globalization is about the inequality between developed and developing nations....
One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Do you think the recent increase in barriers to trade is a help or a hindrance to reducing inequality? Why? (Please the answer should be 500+ words with reference)
One arguement in the debate surrounding globalization is about the inequality between developed and developing nations....
One arguement in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality.
Discuss about three main driving forces for the rising housing inequality china: privatization, marketization, and neoliberalization...
Discuss about three main driving forces for the rising housing inequality china: privatization, marketization, and neoliberalization in the housing systems Please type a paragraph with at least 10 sentences in length
Your Insight about the topic Globalization and Filipino Culture and discuss the economic, political, cultural, and...
Your Insight about the topic Globalization and Filipino Culture and discuss the economic, political, cultural, and social Globalization that Filipinos here and abroad experience.
One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality
One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality  
Write an essay on the following topic in about 1000-1200 words. “Globalization has changed the functioning...
Write an essay on the following topic in about 1000-1200 words. “Globalization has changed the functioning of local governments”. (((PUBLIC MANAGEMENT COURSE)))
In about 300 words, write on the topic: The Role Of Traditional Rulers And Religious Leaders...
In about 300 words, write on the topic: The Role Of Traditional Rulers And Religious Leaders Towards Peaceful Election2020 In Ghana
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT