Concrete steps must be taken in the augment their earning potential— through leadership of UNESCAP as to provide discrimination or incomplete service adequate living standards for the coverage—creates inequality of millions living in Asian cities. Unequal opportunity affects opportunity.” INCOME INEQUALITY the poor in such instances as less access of the poor to public services, most commonly Introduction Although there are many technical methods education and health. Unequal access to of measuring and defining income health and education services will hamper a inequality, bluntly the term defines itself as person’s self-development process, and 20% of the World’s population enjoys the consequently that person’s chances for 70% of the total income. Furthermore, acquiring an employment with higher according to recent projections, the richest earnings. These inequalities may rise from 1% of the world owns 46% of total wealth. matters of gender, wealth or concentration In the mean time, the poorest 2/3 of the or insufficiency of services in some areas. total population of the world owns %3. This b. Income Inequality: Income inequality is situation is deemed to be morally the distribution of the wealth of a undesirable and unfair; furthermore it is amongst its people in a way that creates a also known that inequality creates physical gap between the poor and the rich, which is and emotional distress on those who are deemed to be an unfair and inequitable subjected to it mostly the youth. It is social situation. Inequality is driven by alarming that the youth dominate the progress in technology, globalization and poorest 20%, which is 50 cents below the urbanization which then is combined with $2/day poverty line. the lack of state regulation on the matter. The technological advancements of the 21st Defining Inequality century creates new areas and new Inequality is usually examined in two employment opportunities however these perspectives, inequality of income and only advantage those with higher levels of inequality of opportunity. education and income. In addition, a. Inequality of Opportunity: Asian technological advancements also reduce the Development Bank summarizes inequality labour force needed, therefore creating an of opportunity as: individuals “Preventing increase of unemployment for the workers from enhancing their human capital to
Concrete steps must be taken in the leadership of UNESCAP as to provide adequate living standards for the millions living in Asian cities. INCOME INEQUALITY Introduction Although there are many technical methods of measuring and defining income inequality, bluntly the term defines itself as 20% of the World’s population enjoys the 70% of the total income. Furthermore, according to recent projections, the richest 1% of the world owns 46% of total wealth. In the mean time, the poorest 2/3 of the total population of the world owns %3. This situation is deemed to be morally undesirable and unfair; furthermore it is also known that inequality creates physical and emotional distress on those who are subjected to it mostly the youth. It is alarming that the youth dominate the poorest 20%, which is 50 cents below the $2/day poverty line. Defining Inequality Inequality is usually examined in two perspectives, inequality of income and inequality of opportunity. a. Inequality of Opportunity: Asian Development Bank summarizes inequality of opportunity as: “Preventing individuals from enhancing their human capital to augment their earning potential— through discrimination or incomplete service coverage—creates inequality of opportunity.” Unequal opportunity affects the poor in such instances as less access of the poor to public services, most commonly education and health. Unequal access to health and education services will hamper a person’s self-development process, and consequently that person’s chances for acquiring an employment with higher earnings. These inequalities may rise from matters of gender, wealth or concentration or insufficiency of services in some areas. b. Income Inequality: Income inequality is the distribution of the wealth of a amongst its people in a way that creates a gap between the poor and the rich, which is deemed to be an unfair and inequitable social situation. Inequality is driven by progress in technology, globalization and urbanization which then is combined with the lack of state regulation on the matter. The technological advancements of the 21st century creates new areas and new employment opportunities however these only advantage those with higher levels of education and income. In addition, technological advancements also reduce the labour force needed, therefore creating an increase of unemployment for the workers
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