The Inequal Economic Classes

¶ … daily living standards for those living in the high income, middle income, and low income countries. Things like life expectancy, healthcare, housing, and education will be considered in the discussion. The definition of social stratification shall also be looked at. Social Stratification Social stratification simply refers to a hierarchy of posts with respect to the economic production that affects the social rewards to individuals occupying these posts. Stratification entails structural inequity patterns, which are linked with membership in all the groups, in addition to the beliefs that encourage inequity.

The categories that comprise the societal hierarchy are assessed by social groups, who also wish to establish the manner through which inequities are formed and continue with time (Kendall, 2013). Compare/Contrast Low-Income: Approximately 35 countries are presently categorized by the World Bank (2012) as low-income economies. In these particular economies, majority of the citizens are involved in agricultural endeavors, live in the rural regions, and are poor. Women and children here have been found to be the most affected.

This is attributed to the fact that in all countries the impoverished have higher rates of fertility when compared to the rich living in the same nation (Kendall, 2013). This is the case in Zambia. Other elements that play a role in the poverty of women and kids are the absence of educational opportunities, gender differences in work, and significantly lesser average pay to women than the men among others. Middle-Income: Approximately a third of the population of the world lives in a middle-income economy.

The World Bank split the middle-income economies into two groups; the upper income ($3,976 to $12,275) and the middle income ($1.006 to $3,975). Examples of nations that categorized as lower middle income are Togo, Ghana, Lao PDR, and Timor-Leste. On the other hand, even though these nations are called "middle-income" nations, over 30% of the individuals living in these nations live in poverty as described by World Bank. Many individuals have moved from the poorest countries of the world with the hopes of getting better economical opportunities in other nations (Kendall, 2013).

Some nations with middle-income economies are Argentina, Mexico, Turkey, and Brazil (Kendall, 2013). A huge variety of goods and services are exported by these countries, varying from processed goods to fuel and raw materials. For instance, Kazakhstan is famous for growing and harvesting tobacco. High-Income: High-income economies are found in seventy countries in the world. They include United States, Israel, Germany, Australia, Portugal, Japan, and Italy among others.

With reference to the World Bank opinion, citizens in such economies usually have higher living standards when compared to citizens in the middle- and low-income economies (Kendall, 2013).

In countries that have quite high human development, the average schooling years obtained by individuals of 25 years old or more is 11.5years while in the mean schooling years in the nations with low human development is 4.2 years (Kendall, 2013) Low Income Countries Can Reach Middle or High Income Status With global economic development and recent technology, it may be possible to minimize complete poverty and to boost individual's opportunities.

Amidst the trends mentioned by the Human Development Report which have the capability of bringing out more sustainable development patterns are the socioeconomic advancements made in several middle- and low-income nations in the last thirty years as social, technological, and environmental advancements have taken place (Kendall, 2013). For instance, technological improvement continues to better the living standards of various individuals. Education and.