Essay on Social Inequality According To Picketty

Essay on Social Inequality According To Picketty The dynamics of accumulation and distribution of capital which has accounted for the long-term distribution of inequality that lies in the heart of the political economy. In Capital of the twentieth century Picketty gives an analysis of the unique collection of adequate data for the clear introduction of the thesis. Inequality is traced back to the 18th century seeking to uncover the economic and social inequality patterns. Income inequality refers to the extent to which income is distributed in an uneven manner amongst populations. â€Å"In the United States income inequality refers to the gap between the rich and the poor that has been growing and increasing at a disproportionate rate since 1970 and for the past 30 years† (Picketty 22). Income includes all revenues generated from wages, salaries and interests accrued from saving accounts as well as dividends from shares and profits generated from the trade and sale of such shares. This means almost half of the American population had income totaling this amount while the other half had less than that. For instance, the majority of the population had less income. According to Thomas Picketty analysis of the American income distribution patterns between 1970 to now, there is a general trend in the decrease of the gap between the rich and the poor. The incomes at the bottoms were rising faster than incomes at the top. â€Å"However, since 1970 this trend has reversed. In 2008, the top richest household’s shares had doubled in 2007; the rich had a relatively higher season in the wealth and income sector† (Picketty 36). The great recession of 2008 saw American populations resume the twenty-first with a crashed stock market. However the top earning echelon of society had higher incomes than the bottom layer. Income disparities and inequalities are attributed to the super managerial and financial budgeting by top management. Super managers and those who manage finances for their institutions have had a great impact on the financial and income generation of these firms. The ethical and economic requirement of the reduction of inequality is the aspect of globalization and public policy. The rich should pay higher as compared to the poor low income earners. There is a high correlation between the top income earners and the higher pretax shares in American. The evolution of the tax predictor is a good measure and indication of reducing the wage inequality. â€Å"This has different policy implications meant at the reduction of wage inequalities† (Picketty 60). Picketty gives an analysis of how the free market has created a loophole in the current concentration of wealth as the rate of capital returns on property and investments has been historically higher than the current economic growth. This is highly contributed by the fact that majority of Americans particularly the poor Americans do not own housing but live in situations where houses are owned by landlords. Majority of the inequalities in the capital and wealth section is caused by the art of wealth inheritance. Inheritance on wealth creates a system of inequality in society regarding the fact it does not cater for instances where the initial founder of the estate was a self made man or woman. â€Å"Wealth concentration and its later inheritance factors escalated the recent increase of inequality in capital and wealth investments caused by demographic and economic factors† (Picketty 136). Inheritance of wealth and its subsequent concentration of wealth by the younger generation results to the general increase in the wealth redistribution patterns amongst the struggling poor class â€Å"who have no inheritance† (Picketty 346). Wealth concentrated as a result of inheritance is a great contributor of social inequality. It hampers the opportunity to create wealth on an equal platform. Thomas Pickettys gives an analysis of the twenty first century inequality amongst the developed world populations. Pickett gives an analysis of the current situation by tackling on wealth redistribution and massive taxation to the rich in order to leverage income for the poor. In his book Picketty asks basic fundamental questions. The reduction of the inequality that took place in most developed countries began in the period of colonization particularly in Europe. The accumulation of capital by these countries acted as a cautionary measure against tough times. However, during the post war times the consequence of wealth accumulation led to the historical suicide of Europes wealth inequality and it is a founding Euthanasia for American capitalists. The Same measure applies to the American society. The effect of wealth and capital inequality was very evident in the 19th century. Landlords in America have an advantage of accruing capital since they not only own the property, but also found the means to accrue that capital. â€Å"This dates back to the period of slavery in America where southern slave owners produced more agriculturally due to their accrued capital in ownership of land and the subsequent means of production that is labor† (Picketty 231). Picketty tries to account for historical returns and its effects accrued by capital owners and its contribution to inequality for growing income and capital distribution. The inequality of wealth and capital in the twenty first century sows the seeds of unequal redistribution and generates a historical trend of economic injustice. The cure for such inequalities is the implementation of a universal global tax system that seeks to establish as well cut and reduce instantly in wealth inequality. The accrued capital which usually is passed through inheritance grows many times more than the general economy thus sowing seeds of growing income and wealth inequalities. The implementation of steep tax in both the income tax and wealth tax would reduce the disparities globally. The general overriding evidence in his central argument is the ailing nature of Americas capitalism. He argues that capitalism and the general markets should be the slaves of democracy and not the other way round. In his deep analysis, Picketty offers a solution through wealth taxation â€Å"to cut on crude capitalism prompted by the accruing effects of wealth† (Picketty 109). This is the theoretical compatible with inequality suppression. He argues that the global wealth distribution needs reshuffle in order to bring it into balance. The capitalism of wealth in America is not entrenched within these boundaries that do not respect for acquisition and disposal of capital within a regime protection of these social liberties. The state through universal legislation can redistribute wealth equally at will. â€Å"This can also be done by embracing policies and measures meant to eradicate high tax policy systems endorsed in capital in the 21st century† (Picketty 100). He argues that the unchecked nature of modern capitalism is geared towards greater and even greater wealth inequality. There should be an effective system where deductions from household incomes should not be uniformly distributed. For instance, there should be a running and effective system of employer provided and fully funded insurance policy. â€Å"This should also be in line with the current workers compensation schemes† (Picketty 260). Mere progressive taxation and transfers would not entirely contribute or account to the address of income inequality. This is meant to boost income concentration and reduce the gaps between the rich and the poor in capital gains. â€Å"The global wealth tax would create a system of statistical transparency† (Picketty 334). Global taxation system would decentralize capital to the common man. Income capital would be taxed evenly along a statistical path that seeks to establish fairness and competence. According to Picketty, the current tax system that he proposes to be included in the capital and wealth gains seeks to reduce the pattern that has enhanced an inequality in the wealth patterns rather than increased consumer prices. There is also an emerged trend in the 21st century cultural factors that have projected a patrimonial breadwinner have increased income and wealth disparities amongst individuals in America. This system discourages investment and combined pull of resources and wealth. In a system where assets prices have increased faster than consumer prices this is an indication that capital and wealth income distribution is evident in American society. Many male workers have derived higher incomes from a labor system in America where males are traditionally perceived to be breadwinners. Thus, society should not just ignore Picketts highlights on inequality as a theoretical framework of the twenty first century Enlightment but should implement its policies to the later. There are several implications and lessons derived from Picketty are economic analysis. For instance, his remarks on capitalism in the twenty-first century has been criticized as the 21st century of the post Marxist revolutionary that seeks to undermine democracy and destroy chances of equitable opportunities in the economy and sustainable growth. There are many lessons learnt in this. â€Å"This is the twenty-first century philosophical idealism of the power of positive thinking, where historical inequality in income and wealth disparities is bound to repeat itself in the twenty first century† (Picketty 263). It is a theoretical revolution that seeks to reestablish the equal distribution of income and capital gains. Picketty gives a solution to the bulging and ever widening income inequality by the poor through capital investment and wealth creation. It is an econometric system where the poor can afford to bank on assets that have higher returns as compared to consumer products. â€Å"Earnings and wealth inequality can be addressed through universal and global tax system that is aimed at revenue generation from those who have and redistributing it to those who have not â€Å"(Picketty 353). The ruling elite who comprise the private sector have dwarfed national income and concentrated in the hands of the rich. The future effects of the rising inequality are relatively unstable. Inequality as Marx historically argued that social stratification in society is the rotten fabric of unethical and unequivocal economic production. In conclusion, Picketty argues that the problem of inequality is not caused by the benefits and income paid to the poor but the increasingly unequal wealth commanded by the rich. The general public debt that largely benefits the rich in unequal economic pattern is paid uniformly across all individuals. Amongst the perpetrator of this system is a pattern of lack of incentives for the poor enterprising poor and the incentive wealth concentration by the rich. Work Cited Picketty T. Capital and the Twenty-First Century, Harvard University Press, 2014.

‘Organizational Culture Can Be One of the Most Important...

‘Organizational Culture can be one of the most important means of improving organizational performance.’ Debate and discuss. Every Organization has a culture that constitutes the expected, supported and accepted way of work and behaviour. These influence everyone s perception of the business from the chief executive to the lowest rank. Organisational culture can be described as the shared values, principles, traditions and ways of doing things that influence the way organizational members act. The definition of culture implies three things: first, culture is a perception. It cannot be physically touched or seen, but employees perceive it on the basis of what they experience within the organization. Second, Organisational culture is†¦show more content†¦In a strong organizational culture, the shared values and norms are clear, consistent and comprehensive. Values are intensely held and widely shared. Strong organisational cultures enhance individual performance by energizing employees with engaging ideals, providing identity and meaning, and shaping and coordinating employees’ behaviour. Strong cultures can also enhance corporate performance. There is a positive relationship between strength of corporate culture and companies’ long-term economic performance, but the relationship is modest, and some firms with weak cultures also have strong performance. When they are operating in relatively stable environments, firms with strong cultures exhibit superior and more reliable performance than firms with weak cultures. However, when the company’s environment becomes more volatile, this advantage is often lost. Performance of different types of organizational culture: The organisational culture and performance examines different types of cultures and compares how they perform in different circumstances. This approach looks for a cultural fit i.e. the extent to which an organisational culture suits the organisation’s circumstances, and predicts how well an organization will perform under those circumstances. If one thinks of an organisational culture as a way of controlling and governing an organization, three distinctShow MoreRelatedOrganizational Behavior Terminology and Concepts Essay4868 Words   |  20 PagesOrganizational Behavior Terminology and Concepts Organizational behavior In today’s challenges at work and an organization has become more than just a place where eight hours of a day is spent, but a place where behavior is a major contribution to the success behavior and what it means and the effects on the climate of an organization. of a company. In this paper we will discuss organizational â€Å"Organizational behavior is the study of human behavior in organizations. It is an academic disciplineRead MoreOrganizational Behaviour3984 Words   |  16 PagesOrganizational Behaviour Table of Contents: Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦3 Factors that determine successful performance †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦.4 Effect of Culture†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦4 Motivation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..5 Teamwork†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦6 Capable Credible Leadership†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 Obstacles to effective organizational performance †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦Ã¢â‚¬ ¦..8 Conflict†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦8 Stress†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreHuman Resource Management8564 Words   |  35 Pagesanswer each question, 1 or max 1.5 pages for each question) 1. What do we mean by the terms ‘Best fit’ and ‘Best practice’ to describe SHRM (Strategic Human Resource Management). Which is better? Use any short case examples to illustrate your discussion? Answer: By Definition ‘Strategic Human resource management is an approach that refers how the aims of the organization will be acquired through people by means of human resource strategies and combined human resource practices and policiesRead MoreLeadership And Development Plan For The Top 30 Managers Across The Globe2472 Words   |  10 Pagesin competitive strategy (Becker and Huselid, 1998 citied in Mabey, 2013). It means that managers need to be developed to help achieve the goal of management in organisation. This proposal is required to develop a leadership and management development programme for the top 30 managers across the globe in Bayer HealthCare Ltd. 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Education system free essay sample

Our education system is more of parrot learning. Rather than doing real world examples, we stick to typical traditional theoretical system of learning even in  practical courses like statistics. Therefore by giving an option for students to undergone the industrial training, it is actually a good alternatives as students can learn and get the exposure into the real world where we can actually do the implementation on what we have learned before into the real situations.In conjunction with that, I am very much delighted and thankful to the Unifiedcomms (OHQ) Group for allowing me to do internship in their organization for 11 weeks starting from 25th June till 7th September 2018 where I got the platform to have exposure on the analytic  processes and enhance my knowledge and ideas.During the training period, I was placed in Business Intelligence Analytic and I had the chance to learn a lot of beneficial new things such as MySQL where it is an open-source relational database manage ment system besides Python programming language and data visualization software like Tableau Desktop. Such beliefs are now in decline, although many still hold them, much more common is the belief that everything boils down to the God of education. Those who are smart and hardworking do well in education and gain educational qualifications and in turn do well in the world of work. Those who are unemployed and working in low paid jobs did not gain educational qualifications and were probably not academically gifted. This is, however, an ideological belief as it has been shown that the higher your parents social class so the higher your educational qualifications and duration spent in education. Class still determines where you end up in the majority of cases. The education system propagates the view, however, that success is all down to intelligence and hard work. This evidence suggests that the education system selects people for the different social classes; this then depends on what your future job will be despite how academic you are your social class will be the main influence. This then could be considered to be planning students for future roles and society but it gives a false expectation of society. In contrast Parsons said that schools are important units of secondary socialisation and oversees the change in values. It provides the transition for young people from particularistic (ascribed) values to universalistic (achieved) values – this then helps young people be ready for future work roles as they are taught norms and values which aren’t taught by the family. The education system also teaches people how to behave in a working environment; some people could say that school is a smaller version of the work place so having compulsory lessons and rules within the education system prepares you for the strict environment. Functionalists think the education system prepares young people for work because of the expansion of school and higher education as it is necessary to provide a properly trained, qualified work force that are needed to fulfil the current job availabilities given. The education system glues people together through shared values by building social solidarity. The problem with these views are that Functionalists themselves have made the point of it’s who you know and not what you know, so despite the support and values learnt in the education system they may still not be effective to achieve a good well paid job within society and suggests education isn’t necessary, on the other hand having more social knowledge and norms and values is preparing you for future jobs within the work place. Functionalists Bowels and Gintus (schooling in capitalist America) say that through hidden curriculums there is a very close relationship between relationships at work and at school, the relationships between students and teachers represent the authority between work colleagues and administrators and managers, the Hierarchical relations are reflected in the vertical authority lines between students and teachers are reflected in the work place. Bowels and Gintus believe that the education system helps to maintain, justify and explain the system of social inequality of capitalist society. This then helps young people to come to terms with their own position in society, the problem with this is that a common misconception about schools is that they are considered to be an artificial environment in which students lack true exposure to the real world. So this could be considered to prepare young people for future jobs but the false environment given could give the people an unrealistic idea of society. In conclusion I think the education system does prepare young people for future job opportunities, as it provides a common situation which prepare students for the working environment through the use of schooling, it provides a hierarchy throughout their lives which enable them to excel throughout work, however I think the use of hidden curriculum could be used better as it should be used for more life skills instead of compulsory lessons. So learning how to manage bills, money and housing as you grow up would provide a better view upon society. Also I think that schools create a false environment for students as it is nothing like the working world.

Obstacles free essay sample

Throughout one’s life obstacles tend to get in the way in the form of disguises that aren’t always pretty. My story is a common one that countless people have faced. Approximately three years ago when I was a freshmen in high school, in my English class we always had frequent assignments of writing an essay and handing it in or writing a poem and presenting it to the class. My phobia of public speaking always forced me to pick the essay. I never loved the idea of writing an essay but if it kept me in my seat where I was â€Å"safe† from standing up in front of the class, then I will obligingly embrace it. Only a couple would actually do the poem and obviously they weren’t the ones that were afraid of talking in front of people. Couple of times I actually pondered upon the idea of getting up just once so I could see what it was like but I pushed that thought away from mind thinking about all the possible things that could go wrong, for example, I could ha ve a panic attack or I could stutter upon my words making a complete fool of myself. We will write a custom essay sample on Obstacles or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When my brave peers would go up I would take it as my job to study to see exactly where they get the courage to do this and I always noticed they always had it, it just didn’t appear out of nowhere, they grew up with it. when I would do presentations like way back in elementary school, then it was nothing for me because I didn’t know there were such things as messing up but as soon as I hit like the eight grade I would see kids laughing at other kids who messed up and that’s where my fear of going up in front of the class came from. One magical day I dared the impossible, this time I didn’t write an essay, I wrote a poem. I gathered up my courage, took a final look around and stood up to enter the battlefield. In my head I had it all planned, I would look at my paper the whole time, be prone to those comments that will be coming. Fortunately that’s is exactly what happened, when I was half way through the poem some kid I wasn’t very fond of started laughing and I looked up and I discovered he wasn’t laughing at me but was chatting with one of his friends. I breathed a sigh of relief and continued my poem. From that day on I have definitely learned a lot, for example, its human nature to judge and you can’t stop somebody else’s thoughts, you just have to learn to adapt. That day was a risk for me because I could have done several things wrong and it would make a scar on past that I would always remember the day as a reminder to never present things and my fear would never leave.