Causes Of Income Inequality Flashcards
What is unemployment
Where a working age adult that is available for a job doesn’t have a job
How many adults in the uk are unemployed
Over 1.4 million
What do individualists believe causes unemployment
People aren’t properly trying to find a job
What do collectivists believe is causing unemployment
Mainly unemployment is out of people’s control
Why do collectivists believe this is cause for unemployment
People are getting made redundant due to them bring replaced by technology and cheaper imports
What’s an example of people losing jobs due to cheaper imports
Thousands of people are losing jobs in steel factories due to steel being really cheap if being imported from China and 3,000 people losing jobs at port talbot
Why does unemployment cause inequality
People need to rely on benefits which are below the average wage
How much of the total work force in the uk are currently unemployed as a percentage
3.8%
What percentage of people in poverty in the uk have at least one person that’s wages are too low
60%
What do individualists believe that a capitalist economy is based on
pay is based on
how valuable the work is therefore high-skilled jobs tend to be rewarded with higher pay than low-skilled jobs.
What do collectivists believe a capitalist economy is based on
Exploiting lower skilled jobs so they can give them lower wages and maximise profits
In 2022 how much did wages rise for the highest fifth of workers
7.8%
In 2022 how much did the lowest fifth earners wages rise
7.5%
What is zero hour contracts
Where a worker doesn’t have a set amount of hours
How much people in the uk had zero hour contracts in 2005 compared to now
2005 100,000
2024 about one million