The Rising Of Inequality By Joseph E. Stiglitz

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Rising Of Inequality
The article of the 1%, by the 1%, for the 1% is written by the famous American economist Joseph E. Stiglitz, who won the Noble prize in economics, tells us about the growing inequalities between the upper class people and the middle class people. The main purpose of this article was to focus on rising inequality in economy of the United States of America. The article gives us insight about the change in economy in past and present. Joseph starts by giving numbers to mention the difference. 25 years ago richest American had 33% of nation’s wealth and took 12% of its yearly income, today its 40 % and 25% of yearly income (746). Although he did not mention the source, his numbers appear to be true due to his credentials as …show more content…

He supports his argument by giving reasons and tries to make his audience aware of it. Being an economist his reason seems convincing too. Stiglitz, used simple transition words like first, second and third to mention his reason. The use of such transition words helps his audience to identify reasons easily. For instance, the first reason he gave is about decreasing equality in opportunities. The second is distortions like monopoly and undercut tax (747). However, the author connects to the people in the third reason by telling that the legal authorities need to take an action for the improvement and gives logical reasons for that. “ The rich don’t need to rely on government for parks or education or medical care or personal security – they can buy all these things for themselves (748).” Stiglitz, uses an ironic tone here to show compassion to his …show more content…

“The top one percent have the best houses, the best educations, the best doctors and the best lifestyles, but there is one thing that money doesn’t seem to have bought: an understanding and their fate is bound up with how the other 99 % percent live (752,753)”. The author credits the values of the audience and shows sympathy towards them by telling money cannot buy anything. This statement also directs back to the beginning by telling that 1% does affect 99%. And, it gives rise to inequality in the economy. Hence, the author is clear about his argument and insight and does not change his opinions throughout the essay in order to show concern towards the

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