Income inequality

Assignment 2: Income inequality

Due: Jan 30, 2018 at 11:59 PM

For this class, we will not cover income inequality, but it is a very interesting topic. Income inequality is measured by Gini coefficient, with the value between 0 and 1. Higher value represents greater income inequality.

In this assignment, you are going to find a chart showing the income inequality of a city or a country (again, please do not choose the US country). Discuss the reason(s) for a high/low level of income inequality. Also discuss how such level of income inequality will affect the society in the future.

Requirements: pls make it very short just answering a question, no detail research needed pls, and pls provide a chart and some pictures too (1 chart, 2 pictures of income inequality) Not more than 3 pages and pls pls I do not want in detail. (Pictures and chart imp)

I have attached a sample too pls see how that is done, so short and simple, pls make it that way. Thanks! 

Hong Kong Gini coefficient (1971 – 2011)

Income inequality in Hong Kong is 0.539 in 2016, which is the second highest in the world following New York City.

There are several reasons behind this huge gap between the rich and the poor.

1. There is not a comprehensive retirement system for the elderly. Also, the safety net system for the needy is not well developed.

An elderly collects cardboard to pay for the rent in Hong Kong.

2. Skyrocketing housing prices also creates a substantial divide between those who own a property and those who do not.

Due to the ever rising housing prices, buying is not an option for most people, and most of the income each month goes to rent payment.

How income inequality will affect Hong Kong

Rising income inequality can lead to social unrest. In 2013, there was a peaceful protest called as “Occupy Central” (similar to the protest, “Occupy Wall Street”). One of the primary concerns expressed by protesters is the income inequality and astronomical housing prices.

Occupy Central movement in 2013 (Central is a financial district of Hong Kong, similar to Wall Street in New York City)

http://money.cnn.com/2014/11/06/news/economy/hong-kong-income-inequality/index.html

http://www.scmp.com/news/hong-kong/economy/article/2097715/what-hope-poorest-hong-kong-wealth-gap-hits-record-high

http://www.scmp.com/comment/insight-opinion/article/2027778/hong-kongs-appalling-wealth-gap-burning-fuse-revolution

http://www.scmp.com/news/hong-kong/article/1604461/top-10-moments-occupy-central-so-far