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Income Inequality evidence and Policy Representation- American Politics

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  1. Introduction
  2. Income Inequality evidence
  3. Policy Representation
  4. American Politics
  5. Conclusion

There is incontrovertible evidence that the American income inequality has increased, while the social mobility has reduced. It is widely known that states with higher income inequality have lower social mobility, in cases of income-based definition of mobility. This implies that increasing social mobility is somehow hard without tackling inequality. In addition, if tackling inequality involves measures aimed at compressing income distribution, it may have a long-run effect on the economic growth. There are policies aimed at improving the social mobility, often on the most disadvantaged individuals, particularly the least skilled. Evidences on skilled-base technological changes suggest high costs are involved in investing on people with low levels of skills, which will make achievement of gains very difficult. However, for some individuals it means an increase in wage (Flavin 29).

There are increasing evidences that the labor market in the U.S. is hollowing out. However, this does not seem rather different in cases where one does not consider jobs by the level of income, but by the level of skills. This feature suggests that helping those at the bottom to move up will be hard and costly than it will with helping those somewhat above the bottom. As can be seen from the recent rise in the supply of university graduates and expert workers, the wage premium of the graduates have decreased; however, the economic theory suggest that further increase of the supply of highly skilled workers in the absence of the dramatic demand for skills will reduce the rising pressure of income at the top.

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