Poverty Is Bad, But Inequality Term Paper

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" (Celimene and Briys) This understanding of equality remains true "... As long as we do not remain unequal in residual (unwanted) risks. That is as long as inequality is not rooted in pure random events. Otherwise this inequality is bad, a true divide indeed!" (Celimene and Briys).

What Dornbusch is saying in effect is that inequality is a positive aspect that flows from the different talents, motivational elements and market forces that normally occur in a free market economy. He does not view inequality that is a result of outside factors that are imposed, such as discrimination and oppression, in a positive light. Only inequality that results from natural differences and different degrees of individual effort and motivation is considered to be "good." In this regard I would tend to agree with his views.

On the other hand I would also agree that poverty is a "bad" aspect of modern society. Poverty means the lack of opportunity and resources that are always negative for any economy and can lead to economic disruption...

...

This refers to the view that inequality can be seen as positive when it refers to a natural outcome of motivational and other normal differences and incentives and not as a result of imposed and external force and factors. Poverty on the other hand is an aspect that is always detrimental and is not a factor that is an automatic consequence of inequality.
Bibliography

Dornbusch R. (1999) a CENTURY of UNRIVALLED PROSPERITY. Retrieved August 4, 2007, at http://www.esi2.us.es/~mbilbao/pdffiles/dornbus2.pdf.

Celimene F. And Briys E. Globalisation and Risk Sharing: Debunking Some

Common Pitfalls. Retrieved August 3, 2007 at http://209.85.129.104/search?q=cache:tgVua2zoKeEJ:cyberlibris.typepad.com/blog/files/Haiti2.doc+DORNBUSCH+STATES+POVERTY+IS+BAD,+but+INEQUALITY+IS+NOT%22&l=en&t=clnk&d=2&l=u

Sources Used in Documents:

Bibliography

Dornbusch R. (1999) a CENTURY of UNRIVALLED PROSPERITY. Retrieved August 4, 2007, at http://www.esi2.us.es/~mbilbao/pdffiles/dornbus2.pdf.

Celimene F. And Briys E. Globalisation and Risk Sharing: Debunking Some

Common Pitfalls. Retrieved August 3, 2007 at http://209.85.129.104/search?q=cache:tgVua2zoKeEJ:cyberlibris.typepad.com/blog/files/Haiti2.doc+DORNBUSCH+STATES+POVERTY+IS+BAD,+but+INEQUALITY+IS+NOT%22&l=en&t=clnk&d=2&l=u


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