Manifestation of Poverty and Social Inequality

Social inequality perpetuates poverty at two main levels; at the micro and the macro level. The micro level addresses poverty from the angle of rewards in the labor and capital markets. For instance, every market around the world is characterized by the increasing disparities in real wages between the low skilled and the skilled workers. At the same time, the flow of returns in companies from the effort of the skilled workers to the owners creates an unfavorable skew of disparity between the employees and the owners of such businesses. On the other hand, at the macro level, there exists influences emanating from the structure of the market. For example there are influences such as the structure of the economy vis-Ó-visáthat of other major economies, shifts in commodity prices where only a certain class of people can acquire such products, shifts in inflation, influences from globalization and tax structure in a country (Jozkowski, and Wiersma, 2017). All these factors tend to favor...