University Economics Homework: Economic Inequality & Climate Change

This homework assignment delves into two critical global issues: economic inequality and climate change. The first part examines economic inequality, defining income, wage, and wealth inequality, and analyzing arguments about wealth distribution and poverty. The second part focuses on climate change, discussing its causes like global warming, the impact of carbon emissions, and contrasting scientific claims with contradictory viewpoints. The assignment includes references to support the arguments presented. The student provides a comprehensive overview of these interconnected challenges, supported by research and analysis. This assignment is a valuable resource for students studying economics and environmental science, offering insights into these pressing global issues.

Running head: HOMEWORKS
HOMEWORKS
Name of the Student:
Name of the University:
Author Note:

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Homework 1:
Problem Introduction:
The concept of economic inequality is described as the unequal distribution of money,
and resources among the population. The economic inequality also refers to the unequal
distribution of income opportunities. Considering the present situations, it can be stated that the
people are trapped into poverty, which is steadily growing, barring a good number of people to
rise up the social ladder. The population around the world is faced with an unfair and unequal
opportunities, which is barring their personal growth and their social positions (Ncube,
Anyanwu, and Hausken. 2014). Now it is important to understand that the economic inequality
does not only refers to the financial inequality that is pervading across the social setups, but
along with that, it also refers to the unequal distribution of the opportunities and scopes related to
economy.
Definitions:
In order to understand about the economic inequality, the following definitions of types
of inequality are important.
The first type of inequality is income inequality. Income refers to the pay or the wage
provided to a person upon the employment or the amount of work or service, one is involved into
and along with that the amount of money or interest one gets upon investments into properties or
stocks and the like. This also includes the savings of a person, therefore, it is often seen that
since there is an inequal distribution of salary and wage, and since there are different interest rate
or structure in different countries and across age structure, therefore, the there is an inequality
from the perspective of income (Yanowitch. 2017).

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The next is the wage or pay inequality. This refers to the inequal amount of payment
received by an individual for their efforts and services. Now it is often seen, that for the same
amount of work done, two different people are paid differently, and this is known as the wage or
payment inequality (Yanowitch. 2017).
Lastly, the wealth inequality, which refers to the accumulation of wealth buy an
individual. Therefore, the wealth inequality can be defined as the inequality of accumulation of
wealth across and among the population (Halter, Oechslin, and Zweimüller. 2014). More
importantly, it is observed that the wealthy people use their power of wealth to accumulate more
wealth.
Arguments:
According to the world inequality report 2018. It is observed that there is 1% rich people
with 50% poor people across the globe, which refers to the fact that poor are getting poorer, and
the rich are getting richer. According to the researchers, the 82% of wealth that had been
generated in the past one year had been to the top 1%, who are already wealth and the flow of
wealth are still the same (Houle. 2018). Growth is inequal and not benefitting the entire
population rather it is only benefitting the ones, who are already in position with a good amount
of capital. The recent poverty report has indicated the rate of poverty is steadily increasing and
the current situation is very much political in orientation.
However, at the same time, one branch of the economists has stated that in certain
countries the level or the rate of poverty is steadily decreasing and that countries like India, and
China are bringing in average incomes. The economists have also opined that the income
inequality in these countries are decreasing as well, and the income gap that have been persisting

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in these countries are now shrinking, and they have claimed that certain household data are
determining this fact (Buhaug, Cederman, and Gleditsch. 2014).
However, the economists have claimed that with decreased government and political
intervention, the decrease in the inequality gap can be observed.
Conclusion:
The economic inequality is steadily increasing, and the data from the World Bank has
reassured this fact, and it is easily cognizable that the steady growth in the inequality will
adversely affect the growth of the country as a whole.
Homework 2:
Problem Introduction:
Climate change is the defining issue of present. There is a huge shift in the weather
patterns which has further resulted into the changes in the food production, habitation, extinction
of plant and animal lives and species. The impact of climate change is not only global but way
more adverse than any other forms of change or global issues, and more importantly, if the
countries do not become aware of this condition, then it can lead to the end of the entire wold.
The increasing changes in the temperature globally, and the rises in the sea levels and the
increasing numbers of raging, catastrophic floods, and the increase in the number of earthquakes
and tsunamis are all the consequences of the drastic changes in the climate. One of the major
reasons for the changes in the climate is, Global Warming. The global warming refers to the
increase if the temperature, globally. It is been observed that the temperature of the entire world
is increasing, and this sis essentially because of, as acclaimed by the United Nations, human
conducts (Dalby. 2013). The increase in the use of carbon particles, and the increase in the

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emission of methane, and other greenhouse gases, are creating a layer which is therefore
resulting into global warming and climatic changes.
Link:
https://climate.nasa.gov/solutions/adaptation-mitigation/
Major Claims:
Some of the major claims that have been claimed by the researchers and the scientists are
that climate will react to the each and every change that will take place, irrespective of the scale
of the change. More importantly, according to the researchers in NASA, in the past 35 years the
Sun and the global climate have been going to opposite directions, and this had been negatively
impacting upon the agriculture, environment and the health of the individuals. A number of new
diseases had been generated, and this is not only impacting upon the human life, but it is
affecting the plant and animal life as well. However, one of the most important claim that has
been made by NASA is that, the elements of carbon are the sole reason for the initiation of the
global warming, but this is not the truth, the emission of carbon elements have elevated the
impact. Also, it is important to note, that the urban and the rural areas are showing the same
trends, thus making it a global phenomenon.
Link:
https://www.earthday.org/6-arguments-to-refute-your-climate-denying-relatives/
Contradictory Claims:
Along with these claims there are certain other claims as well, which are not scientific,
but rather myth. However, the interesting point is that they are claimed by the social researchers
or scientists, and according to them, climate change is normal and natural and the fluctuations in
the temperature are age old. Therefore, there is nothing to be worried about. According to

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another branch of scientists, the weather is very cold in certain areas therefore, it is good that
some of ten areas are getting hot. Along with this, there is another point of belief that evolution
will take place again and plants and animals will learn to adapt to the changing behaviour.
Conclusion:
Therefore, form the above mentioned arguments, it can be stated that there is
unawareness and denial present across the scientists, who are still extremely ignorant to the fact.
The last decade had been the hottest decade in the history of human life. More importantly, it
must be understood that, weather and climate are two different things, and changes in the former
one, is adaptable, while the change in the later one is not since it is quite permanent in its nature.

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References:
Buhaug, H., Cederman, L.E. and Gleditsch, K.S., 2014. Square pegs in round holes: Inequalities,
grievances, and civil war. International Studies Quarterly, 58(2), pp.418-431.
Dalby, S., 2013. The geopolitics of climate change. Political Geography, 37, pp.38-47.
Halter, D., Oechslin, M. and Zweimüller, J., 2014. Inequality and growth: the neglected time
dimension. Journal of economic Growth, 19(1), pp.81-104.
Houle, C., 2018. Does economic inequality breed political inequality?. Democratization, 25(8),
pp.1500-1518.
Ncube, M., Anyanwu, J.C. and Hausken, K., 2014. Inequality, economic growth and poverty in
the Middle East and North Africa (MENA). African Development Review, 26(3), pp.435-453.
Yanowitch, M., 2017. Social and economic inequality in the Soviet Union. Routledge.