What is the difference between wealth and income

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Assignment:

One understanding of poverty in the U.S. suggests that large-scale societal issues like race and class perpetuate it. Others argue that the actions of individuals are responsible for poverty; however, poverty is sometimes a temporary condition that isn't caused by the fault of the individual -- so if this is true is it fair to blame the individuals for their poverty? What is the difference between wealth and income? Which is greater in the United States today, the income gap or the wealth gap? How do modernization theory, and dependency theory explain the existence and persistence of economic inequality between countries and regions?

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Why is it so hard to escape poverty? - Ann-Helén Bay

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Reference no: EM134043009

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