Date of Award

2019

Document Type

Thesis

Degree Name

Bachelors

Department

Social Sciences

First Advisor

Khemraj, Tarron

Area of Concentration

Economics

Abstract

The purpose of this work is to examine causes of income inequality in the United States. This work provides a descriptive survey of various causes of income inequality in the United States. The first section of this work introduces the concept of income inequality and establishes its growth and existence in the United States. This provides background for the reader to better understand what income inequality is and its pervasiveness in the United States. It further allows for easier reading by proving an outline of the work. Section 2 provides several economic theories behind income distribution including: Ricardian, Marxist, and Neoclassic theories of income distribution. Section 3 examines several possible causes of income inequality in the U.S including: labor unions, monopsonies, monopolies, financialization, and skill biased technological change. Section 4 explains the ramifications of income inequality and the possible causes. Additionally, areas of further research are explored. This paper adds to the field of economics by consolidating the evidence behind causes of income inequality in the United States.

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