An Analysis of the Implications of Economic Inequalities on Poverty in the USA and India

Authors/ Publisher: Md Shirajis shadik/Md. Sariful Islam/Jannatul Bushra

Abstract:

Abstract

There are shreds of evidence that economic inequality is exacerbating poverty and extreme poverty around the world. Various research and global surveys have shown that the gap between the rich and the poor is growing higher everywhere in the world, surprisingly both in the most impoverished countries and in the most developed countries. United States of America is thought to be the unparalleled economic superpower in the world whereas India is believed to be one of the rising economic giants in the world. Looking at the economic development in the USA and India, it could have been assumed that it has uplifted the number of poor living below the poverty margin. But, in reality, most of the poor are getting marginalized by unequal treatment of neo-liberal economic aspirations and government policies. This study on economic inequalities in the USA also concluded similar findings showing how the poor are getting demoted and being deprived of necessities like healthcare, education, minimum wages etc which aggravated their poverty. On the other hand, the Indian scenario, which is the home to the largest number of poor in the world, shows similar or even crueller stories of income inequalities worsening poverty. This research is done on secondary data sources, viz – different national and international surveys, research outcomes, diverse kinds of literature, case studies etc. The qualitative approach of this study sheds light on the crucial linkages between inequality and poverty which is concluded in finding pathways to deal with poverty-reduction policies both in poor and developed countries.