Economics
EOC 204 Ashford University Education and Income Inequalities Discussion

eoc 204

ashford university

EOC

Question Description

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Prior to beginning work on the Final Paper, read Steven Strauss’ article, The Connection Between Education, Income Inequality, and Unemployment (Links to an external site.). In your Final Paper, you should address the following based on the information presented in the article and other research:

  • Describe how a country can measure its income inequality.
  • Evaluate the effect of income inequality on the U.S. economy, such as unemployment, economic growth, and other economic factors.
  • Estimate the gap between those who hold bachelor’s and higher (master or doctoral) degrees and those who do not.
  • Explain reasons why the inequality gap between educated and less-educated workers has been widening.
  • Evaluate whether increasing opportunities for higher education can reduce income inequality.
  • Analyze what else causes U.S. income inequality to widen.
  • Recommend how to reduce educationally based income inequality or other factors if you were a federal policy maker.

The Education and Income Inequality Final Paper

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Final Answer

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Running head: EDUCATION AND INCOME INEQUALITY

Education and Income Inequality
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EDUCATION AND INCOME INEQUALITY

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Education and Income Inequality
Introduction
The education level highly impacts the position of an individual in the job market
especially in terms of income. In other words, the education level determines the income level
that an employee would be able to earn. In the United States, people who have a higher level of
education get paid more than people who have a lower education level (Steven, 2017).
Education, therefore, plays a significant role in the income inequality disparity that has been on
the rise in America. Academic achievement is what sets apart the high income from the lowincome earners giving rise to the levels of inequality in income. Low-income earners have the
option of advancing their studies and improving their education to earn a higher income. This
paper takes a look into the concept of inequality in income and how education relates to it by
addressing the different aspects of inequality in income. The question this paper aims to answer
is whether the inequality in income can be minimized by the increase in higher education
opportunities.
How inequality in income can be measured in a country
Income inequality is a situation where different people earn different incomes based on
several factors like education level and rank among other factors. This paper focuses on how the
level of education determines income earned. The inequality in income can be measured by
comparing the earning rates of people with high living standards and those with low living
standards. Since there is no measure that is exact for this disparity, the measures can be
determined by sampling the income of people in poor households and that of people in rich

EDUCATION AND INCOME INEQUALITY

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households within specific regions of the country as well as comparing their educational
achievements (Hagenaars, 2017). A specific percentage of individuals who have high income can
be divided by the same percentage of low-income earners eventually establishing a ratio like 20:
10 creating an effective comparison. This will make it possible for the researchers to establish an
estimate of the measure of disparity.
Effect of inequality in income on the United States economy
The rising rate of inequalities in income in the United States has significant impacts on its
economy. These impacts get realized in several aspects of the economy that include the reduction
in the rate of economic growth, and the rise in rates of unemployment. Other impacts of income
differences on health and education are also highlighted. The paragraphs below discuss the
effects of inequality in income on various economic aspects.
Economic stability
Economic research has established that it is difficult for a country experiencing instability
in income to have a stable economy. Uncertainty in the economy of a country is brought out
when high-income earners consume less of their earnings and place more into their savings than
the low earners of income do. What the poor spend on their daily living is proportional to what
the rich place in their savings creating segregation which further leads to high unemployment
rates. The increase in inequality in income leads the low-income earners into deeper economic
instability since they will have to depend on mortgages and loans to survive. This further affects
the general stability in the economy of the country.
Economic growth

EDUCATION AND INCOME INEQUALITY
It is challenging for the economy of ...

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