Research Paper for MSW

INSIGNTHS AND IDEAS

Economic justice is defines as a set of principles designed help individuals to be free to engage creatively in the unlimited work beyond economics (The Center for Economic and Social Justice, 2020). To discuss economic justice, we must also talk about social justice which is defined as “fair treatment of all people in a society, including respect for the rights of minorities and equitable distribution of resources among members of a community” (Dictionary.com, 2020).

In this paper, we are going to discuss the difference economic and social justice. Wage gap and income inequality (gender and race), predatory lenders, income inequality, individual earning and affordable housing. We will discuss how economic injustice impact a community and who is more impacted about it.

Gender wage gap is nothing new in America. The pay between a man and a women has not been equal in a long time. The Equal Pay Act of 1963 was signed by President John F. Kennedy. The purpose of the Equal Pay Act of 1963 was to prohibit discrimination of payment of wages based on sex (U.S. Equal Employment Opportunity Commission).

What is the difference in pay between men and women? In 2020, women make only $0.81 for every dollar a man makes and depending on the occupation, the gap could be larger (payscale.com). When you think of the wage gap, it not just between women and men, but it can relate to race. Studies has shown that gender gap are higher for women of color.

According to Van Winkle and Fasang (2020) explained who wage gaps and parenthood and stated that studies has showed the disadvantage for Black women may have surpassed those for White women. Van Winkle and Fasang (2020) also explained that in order for white mother to experience wage, they will have to have three or more children.

Problem Identification: Identifying the Problem and Possible Solution

When we talk about income equality and equal wage pay, we have to consider what that does to a family.   

 

The lack of affordable housing in cities like New York City, Los Angeles, Miami, San Francisco.  How can we make housing more affordable?  In the Florida, there is a total of 28,320 homeless people on any given night with 5,729 were individuals experiencing chronic homelessness. (U.S. Interagency Council on Homelessness).  According to U.S. Interagency Council on Homelessness, California has the largest homeless population in the United States.  I believe a family who is able to afford to pay their rent can decrease. 

Predatory Lending:  Predatory Lending is when a lender uses deceptive and unfair tactics to take advantage of the borrower by higher rates, fees, interest that is not in the best interest of the borrower, but benefits the lender (NerdWallet, 2020). 

According to the American Civil Liberties Union (ACLU, 2011), minority customers were at a higher risk of being targeted. Studies has showed that lenders were steering minority consumers into subprime loans that would take them longer to pay or in some causes never able to pay instead of offering affordable traditional loans (ACLU, 2020).

Because of the predatory lending, during the financial crisis of 2007–2008, it was the minority customers that was hit the hardest. 

 

 

Reference

Dictionary.com. (2020). Social Justice. Retrieved from

https://www.dictionary.com/browse/social-justice

Payscale. (2020). The State of The Gender Pay Gap 2020. Retrieved from https://www.payscale.com/data/gender-pay-gap

The Center for Economic and Social Justice. (2020). Defining Economic Justice and Social

Justice. Retrieved from https://www.cesj.org/learn/definitions/defining-economic-justice-and-social-justice/

U.S. Equal Employment Opportunity Commission. The Equal Pay Act of 1963. Retrieved from https://www.eeoc.gov/statutes/equal-pay-act-1963

Van Winkle, Z. and Fasang, A.E. (2020), Parenthood Wage Gaps Across the Life Course: A

Comparison by Gender and Race. J. Marriage Fam, 82: 1515-1533. doi:10.1111/jomf.12713

American Civil Liberties Union. (2020). Predatory Lending: Wall Street Profited, Minority Families Paid the Price. Retrieve from https://www.aclu.org/blog/racial-justice/race-and-economic-justice/predatory-lending-wall-street-profited-minority

U.S. Interagency Council on Homelessness.  Florida Homelessness Statistics.  Retrieved from https://www.usich.gov/homelessness-statistics/fl/ 

NerdWallet. (2020). What Is Predatory Lending? Retrieved from https://www.nerdwallet.com/article/loans/personal-loans/what-is-predatory-lending