Income Inequality and Globalisation Assignment Example | Topics and Well Written Essays - 2750 words

Income Inequality and Globalisation - Assignment Example Over the past decades, many economists have been debating and claiming that increasing degree of trade relations between developed and developing countries can be identified as one of the major aspects which gave rise in income inequality. Furthermore, economists have also argued that trade relations practiced within nations in the current day context are highly influenced by globalization trends and thereby, globalization can also be addressed as a vital reason for income inequality (Freeman, 1995). Where on one hand, the advantages of globalization can be identified as reduced trade barriers and implementation of modern technologies; conversely, its disadvantages can be identified as inequality in payment of wages to workers being grouped as skilled and unskilled. To be illustrated, implementation of modern technologies can be observed to play a vital role in reducing the demand for the unskilled workers in the global platform which is further giving rise to income inequality amid different economies (Batterson & Weidenbaum, 2006). Recent studies (Atkinson, 2003; Alderson & Nielsen, 2002; Sala-i-Martin, 2002), based on the understanding of this particular issue in the current day context, have revealed that nations react in a distinct manner towards controlling income inequality, fundamentally depending upon their divergent social as well as economic features. For instance, the current trends have revealed that the US, as a developed nation is also facing the problem of income inequality which has further been recorded to augment with significant rapidity over the past few decades. This particular issue, within the context of US business environment, can further be illustrated with reference to the distribution of the organizational wages i.e. in accordance with the rising significance of higher level officials such as the Chief Executive Officers and skilled managers in comparison to the ground level laborers or front desk employees. It is worth mentioning in this context that the recent trends depict a contin uous increment in the wages paid to the skilled employees designated in the decision-making or managerial positions, but contradictorily, it also reveals that the low-skilled workers are receiving lesser wages at a stagnant rate.

Current Administrations Budget Essay Example | Topics and Well Written Essays - 1500 words

Current Administrations Budget - Essay Example a higher premium for Medicares prescription drug coverage, and increasing the amount of money drug manufacturers rebate to states for prescription drugs covered under Medicaid will comprise the proposal (â€Å"Obama 2010 budget highlights by agency,† 2009). Obamas budget indicated that the environment is a main concern by providing the largest increase for the Environmental Protection Agency in eight years. The proposal nearly triples — to $3.9 billion for funding states, local governments and tribes. They can use the money for the improvement of sewage treatment plants and drinking water systems and to protect drinking water sources. These programs already received $6 billion in the recently approved stimulus package. Starting in 2012, the budget proposes to invest $15 billion a year in clean energy — money created from auctioning permits to companies that emit the gases blamed for global warming. The rest of the climate cash will be returned to taxpayers. In another move that could increase energy prices, the EPA budget calls for reinstating taxes on petroleum products, chemical feedstocks and crude oil to pay for cleaning the countrys most harmful waste sites. These taxes expired in 1995. but would set up again in 2011 under Obamas budget (â€Å"Obama 2010 budget highlights by agency,† 2009). Proposed Budget on Energy and Climate Change: The Administration is extending a comprehensive energy and climate change plan to invest in safe and uncontaminated energy, terminate our addiction to oil, concentrate on the global climate crisis, and create new American jobs that cannot be outsourced. After enactment of the Budget, the Administration will work promptly with key stakeholders and the Congress will create an economy-wide emissions reduction program to lessen greenhouse gas emissions roughly 14 percent below 2005 levels by 2020, and approximately 83 percent below 2005 levels by 2050. The cap-and-trade system program will be implemented. This program