Social benefits of inequality? (1 Viewer)

[Rawf]

Can anyone name any social benefits for inequality?

 

[Bobbo1]

In terms of inequality you should be focusing on social disadvantages versus economic advantages/benefits...

 

[darkdog307]

Social benefits are that it encourages productivity of workers because if they work harder and longer they will earn more money, and because they are already not earning much, the extra money is a large incentive for productivity.

Not too sure if that's a good example but something like that.

 

[kwu1]

Social benefits are that it encourages productivity of workers because if they work harder and longer they will earn more money, and because they are already not earning much, the extra money is a large incentive for productivity.

Not too sure if that's a good example but something like that.

That's not exactly a social benefit. Anything productivity related is microeconomic and therefore, that makes it an economic benefit.

There aren't really any social benefits. In Riley, they reckon the benefit is that individuals who are already wealthy have greater access to education and opportunity through networks. But again, that is really dubious... I would just go with economic benefits and avoid this part of inequality.

 

[MasonT]

theres only social costs and economic costs in terms of inequality!! with the aside notion of increased worker productivity

 

[asadass]

- Social benefits of inequality (few)
-The economic benefits could produce a ‘larger pie’ from which all members of society could benefit.
-Inequality of opportunity:
• Existing inequality tends to perpetuate inequality of opportunity. E.g. Higher income earners have better educational opportunities.
• People with inheritance have a much greater opportunity to build up their wealth through investments.
• People might have access to the same networks of people that may lead to new opportunities. E.g. Social and business networks.

 

[RishBonjour]

lol, in the eco dot point book our teacher gave us a copy of the answers page, they said

social benefits:
- it acts as a personal motivator for people
- it can encourage those with plenty to give to charity

I myself, would include - allows those who are rich to live like sickkkunntssssssss.