The Major Causes Of Economic Inequality

America 's economy is dependent on the middle class. Slowly, the middle class is beginning to decrease. Soon enough there will be only the wealthy and the poor. Economic inequality is the gap between the upper class and the lower class. It is a problem that is growing everyday. Technology, education, race, gender, and globalization are the main causes of economic inequality. Each one of these causes contributes to the vicious cycle of economic inequality. The battle for our country 's financial wellbeing is upon us. One of the major causes leading to economic inequality is the growth of technology. Over the past twenty-five years, technology has made improvements in productivity and has played a huge role in the life of everyday society

However, in recent years, the share of income possessed by the middle class has fallen to a historically low level. Fairchild states, "The middle 60 percent of households earned 53.2 percent of national income in 1968. That number has fallen to just 45.7 percent (¶2)." Interestingly enough, another figure that fell at the same rate was union membership. Because of laws limiting Union power, membership had fallen to an all time low in recent years with 11.3 percent. There are many reasons that these two might correlate. First, unions insured access to a livable minimum wage. This increased income along with health benefits and pension plans makes for a vibrant middle class (Fairchild ¶1-3). Not only do the members of unions benefit, but the presence of unions also raises pay for non-union workers in the same industries. Unions not only raise the floor on wages, but it also lowers the ceiling on the richest of our country. Because of union 's bargaining powers, the compensation of executives at those firms are moderated. It goes without saying, the middle class is at its strongest with unions. If unions continue to lose members and if unions continue to lose their bargaining power, the economic inequality will continue to