Economic Problems & Issues/ Week 5 – Discussion 2

Economic Problems & Issues/ Week 5 – Discussion 2

Economic Problems & Issues

Discussion 2

Economist awareness of consequences of Wealth Inequality across different states in U.S., across Canada, and across world. http://www.youtube.com/watch?v=cZ7LzE3u7Bwand Robert Reich trailer of film on the subject http://www.youtube.com/watch?v=YCbAyk8aRxI

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The first video by Richard Wilkinson addresses how economic inequality harm societies. By looking at how much richer are the richest 20% in each country than the poorest 20%. He notes that societies with huge income gaps are somehow going wrong.  For example, People in more unequal countries trust each other less, people in more unequal states of the USA trust each other less and Health and social problems are worse in more unequal countries. In his conclusion, he looks at what needs to be done to solve this. For instance, as far as income differences before tax are concerned, there is need to increase…

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