International Trade on Income Inequality

Paper Summary:

America as the land of opportunity is a concept that has been around since the country's inception. Americans should have the economic opportunity that is associated with this general concept. As such, the topic of income inequality is of great importance. This paper explores the effects of international trade, immigration, and unionism on income inequality.

Outline:
Abstract
Introduction
Income Inequality
The Effects of International Trade on Income Inequality
The Effects of Immigration on Income Inequality
The Effects of the Decline of Unionism on Income Inequality
Is Income Inequality Getting a Bad Rap?
Conclusion

From the Paper:

"Rising inequality and decreasing poverty could very well be a consistent feature of the New Economy. Rapid technological advancements have not only created great fortunes for a select few, but have also substantially improved the wages and quality of life for people at the lower end of the economic ladder. A better-educated society has also led to less poverty, while still increasing the income inequality gap, since those with college degrees have a wider spread of incomes. Although income inequality is disturbing, it is far better than poverty. More income inequality, with a faster growing economy, and less poverty is far more desirable than an economy with equal distribution of income but a high rate of poverty. This is not the first time in history that this blend of greater income inequality and reduced poverty has occurred."

Sample of Sources Used:

• Bernanke, B. (6 Feb 2007). Before the Greater Omaha Chamber of Commerce, Omaha, Nebraska. Retrieved November 21, 2007, from http://www.federalreserve.gov/newsevents/speech/bernanke20070206a.htm.
• Borjas, G., Freeman, R., & Katz, L. (1997). How much do immigrants and trade affect labor market outcomes? Brookings Papers on Economic Activity, (1). Retrieved November 21, 2007, from ProQuest database.
• Cormier, D. & Targ, H. (Spring 2001). Globalization and the North American worker. Labor Studies Journal, 26(1). Retrieved November 21, 2007, from Business Source Complete.
• Cornfield, D. (Jun 2006). Immigration, economic restructuring, and labor ruptures: From the amalgamated to change to win. WorkingUSA, 9(2). Retrieved November 21, 2007, from Business Source Complete.
• Jones, D. (9 Feb 2006). Income polarization gets worse. New York Amsterdam News, 97(7). Retrieved November 21, 2007, from Academic Search Premier.

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