Essay about the causes of inequitable allocation of resources

Embedded in those high prices are also the illegal costs of the corrupt transactions that were necessary to create such a monopoly. If, for example, a home construction company had to pay bribes to officials to be granted licenses for operations, these costs incurred will, of course, be reflected in artificially high housing prices. See: Early Monopolies: Conquest and Corruption. This ensures the efficient allocation of resources.

Public procurement is perhaps most vulnerable to fraud and corruption due to the large size of financial flows involved.

There is thus a disincentive for innovation, and as a result, emerging countries are usually the importers of technology because such technology is not created within their own societies. Corruption is one of the disincentives for foreign investment. As a result, the quality of education decreases. The entire society is affected as a result of the inefficient allocation of resources, the presence of a shadow economy, and low-quality education and healthcare. Corruption thus makes these societies worse off and lowers the living standards of most of their populations.

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Sources of Inequity

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Table of Contents Expand. Data on Corruption's Impact. Uneven Distribution of Wealth. Low Stimulus for Innovation.

Price Controls

A Shadow Economy Exists. Before money, things could not be saved fairly. Over stocking by some would lead to spoilage, and leave others with nothing. Living in America, I have always been aware of fact that there is an unequal distribution of wealth and power across the nation. However, I was unaware that there is such a significant gap between the rich and the poor.

The rich can get away with not paying their taxes and sitting on their pile of free money. In the meantime, the poorest people are down to the. Sociology Homework: Examine the sociological explanations of unequal distributions of wealth and income in contemporary Britain 24 marks There are five main sociological explanations of unequal distributions of wealth and income in contemporary Britain that I will be discussing as well as explaining within this essay.

One sociological explanation for the unequal distribution of wealth and income in contemporary Britain is because it is necessary for the maintenance of society. This is argued.

Government Intervention and Disequilibrium | Boundless Economics

The unequal distribution of wealth affects students of all ages in the education system. In order to reduce education inequality, the funds allocated to the low-income neighborhoods in a state should to be increased not only to decrease the gap between rich and poor and decrease the amount of poorly paid teachers, but also to provide schools with enough resources to ensure success.

Although in the past the biggest cause for unequal opportunities in education has been. Some laws favor certain members within a community while putting a burden on other members. An economic system is, for the most part, a result of political processes developed by humans and the processes are ever evolving within societies. The legal structure of an economic and political system are important because certain resource distributions are a result created from the system.

Academic Search Complete. Xie and Jin examine the level, distribution, and composition of household wealth in contemporary China. The study reveals that the richest one percent of the population owns over one third of the total national household wealth, while the poorest twenty five percent owned less than two percent in Housing assets in China show to be the largest component of household wealth, comprising. Domhoff also states that the unequal wealth distribution is due in large part to tax cuts for the wealthy and the defeat of labor unions.

This unequal distribution has caused numerous economic and geographical problems, such as how resources are divided among countries, how developed or industrialized a country is in relation to wealth distribution and the wide spread of disease and lack of medical attention due to an absence of money. In this paper I will address the negative and positive aspects associated with wealth distribution.

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  6. I will also discuss varying ways to measure wealth …show more content…. This is due in part because of the unequal wealth distribution. The top one percent of the richest people own forty six percent of the global wealth.