James Galbraith Inequality Summary

Inequality is a term that most people define along the lines of something that is not equal or has an imbalance. In “Inequality” by James K. Galbraith, Galbraith goes on to point out the different types of inequality. The issues Galbraith addresses in the book about inequality are addressed through other viewpoints but not political, apolitical. Galbraith touches on the issues just to bring awareness and stays away from involving the political side. If the issue of inequality was addressed and explained rather than just an example given, the issue of inequality would be addressed by being political. The word political can be defined as a relationship to the government that involves citizens and their rights, best interest and power. I am not suggesting the inequality of this topic is good or bad just simply

pointing out that there is an imbalance that Galbraith does incorporate politics into the topic. The issues Galbraith address can not be addressed without being political because freedom, government and power are connected to inequality.

One type of inequality Galbraith mentions in the book is inequality in education. Galbraith first mentions how education plays a role in inequality, Galbraith mentions how “skills are a commodity supplied by education, then it is good thing for the skilled if they are scarce and a bad thing if they are common.” (Galbraith 74). As Galbraith talks about education he mentions that it is a game of supply and demand, but if and individual receives an education they are raising their individual skill level. By individuals raising their skill level they are opening up a chance to have better opportunities such as a better pay in jobs. With an opportunity at a better paying job it is an incentive for people to want to increase their skill lever or receive a higher education. Galbraith then goes on to focus on the high number of computer science graduates and how companies compete with one another to receive the best worker possible for their company. Companies are willing to pay top dollar for the best which creates serious competition for certain types of jobs. Those

who do not get the jobs are forced to take lower paying positions or other positions that may have not been their first choice. Although Galbraith does acknowledge the unequal pay for the same degree, what key point Galbraith leaves out about education is where most of the money comes from and how public schools are able to stay running. When talking about education it is a key factor to notice that some occupations come with higher pay but also a low number of available positions. But it starts at the beginning when students first get into college with financial help from the government and each student is given a different amount, majority of the students not all receive aid. Also, most of the public universities receive financial help from the government. I believe there is a political role involved in education, the inequality in education does not just come from the demand and skills for a certain job. Inequality also arises from the background income of each individual, and income received while in school and the advantages they are given.
Another main topic Galbraith brings up in the book is economic equality. One thing that stands out when Galbraith talks about Economic inequality is how it is connected to political power.