5-2 Activity: Refection: Self

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4-2 Activity: Critical Analysis: Reimagine

Cole Staats

Southern New Hampshire University

IDS-401 Global Society

Amber Logan

March 26, 2023

4-2 Activity: Critical Analysis: Reimagine

Researching and writing about something can be a lot of fun, but it is important to note that not everybody will find the subject engaging. Today, people do not want to be enlightened or educated by reading something; they want to be engaged. In this paper, there will be an examination of the factors that might affect constructive engagement with income inequality and the possible barrier that could hinder that engagement. In addition, there will be approaches that are recommended for making use of critical analysis skills for the fulfillment of professional and personal goals.

Biases and beliefs could impact the topic of income inequality. By definition, biases are unfair prejudices or inclinations for or against a person or group. On the other hand, belief is the conviction or acceptance of the actuality or truth of some ideas. These factors might influence society’s engagement with income inequality. There is ample evidence that “individuals hold distorted beliefs about income inequality” (Cruces et al., 2013). Cruces et al. (2013) conducted a research study to examine how individuals form those beliefs and explore their “potential effect on preferences and biases for redistribution” (Abstract). Based on the research, systematic biases exist in how people perceive their income ranks: many poor people overestimate their income ranks. They underestimate the extent of income inequality and consider themselves somewhat richer than they actually are. These people tend to demand high levels of redistribution when informed of their actual income ranking. On the other hand, many wealthier people underestimate their rank. These factors may affect society’s perception of income inequality.

One major obstacle that could hinder people’s engagement with income inequality is ignorance. A growing body of evidence has shown income inequality is a widespread concern, affecting both emerging and developing economies (Dabla-Norris et al., 2015). Nevertheless, some people lack knowledge or information on income inequality, leading to low engagement.

Critical analysis can help me meet my personal and professional goals. I have developed different critical analysis skills, including research, curiosity, inference, identifying biases, and interpretation. Through these skills, I can effectively address the issue of income inequality without fallacies and cognitive biases. Besides, I can use critical analysis skills to handle the day-to-day responsibilities and problems as they come my way. Critical analysis skills give me greater clarity on the problems and information I process.

References

Cruces, G., Perez-Truglia, R., & Tetaz, M. (2013). Biased perceptions of income distribution and preferences for redistribution: Evidence from a survey experiment.  Journal of Public Economics,  98, 100-112. https://doi.org/10.1016/j.jpubeco.2012.10.009

Dabla-Norris, M. E., Kochhar, M. K., Suphaphiphat, M. N., Ricka, M. F., & Tsounta, M. E. (2015).  Causes and consequences of income inequality: A global perspective. International Monetary Fund. Retrieved on March 25, 2023, form https://www.imf.org/external/pubs/ft/sdn/2015/sdn1513.pdf