This blog compiles the thoughts of UCLA undergraduates on the connections between economic history and current events. All contributors to this blog are enrolled in Ec183, The Development of Economic Institutions in the United States. The premise of this course is the history matters. The careful application of economic theory and quantitative reasoning can help us understand the past.
Tuesday, November 29, 2011
Income inequality in the United States
In the article, "The forgotten American homeless," the author mentions that America is very rich by the global standard. However, the income inequality gap keep raising. The unemployed citizens in the United States are facing problems. According to the data the article provides, "49,117 school-aged children were identified as homeless in the 2009-2010 school year in the state of Florida; this indicates a 19% increase from 2008-2009." Although the United States as a whole is growing, the poor in the United States has become even worse. This remind me about the topic we discussed in very beginning of the quarter. Divergence means that rich is getting richer and poor is getting even poor. Although the U.S. as a whole experienced reversal of fortune in the early century, the internal of the U.S. economic is experienced a divergence situation. For further information: http://blogs.reuters.com/muniland/2011/11/28/the-forgotten-american-homeless/
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