Wealth Disparity In America

of the wealthiest countries it exhibits wider disparities of wealth than any other nation. Although over the years the overall economy has become stable, the financial disparity continues to exist and reflect a demand for equality despite the historical standards.
Wealth is a strong indicator of financial well-being in this society that reflects financial attitudes and behaviors as well as priorities, goals, and values. Over the past century, America’s wealth has changed remarkably whereas financial median peaked starting in the late 1920’s before the Great Depression then fell by more than half over the next three decades. For this reason, wealth disparity in America began to come into existence. The Historical Census Bureau Statistics on

Income indicates that there has been a growing income inequality over the past quarter-century which indicates a decline in family income inequality of 7.4 percent from 1947 to 1968 (Weinberg, 1996).
Significantly living conditions of Americans began to change considerably in the late 1940’s after the postwar. However by 1968 to 1970, inequality began to take root and rapidly increased during the early 1980’s. From about 1987 through 1992, the growth in measured inequality seemed to co-exist across races causing recognizable wealth gaps. With economic crisis like the Great Recession, financial conflicts play a central role in addressing wealth inequality because of the disproportionate opportunities between race and ethnicity in America. Disparities in wealth accumulation and the loss from the great recession inflict economic inequalities and class differences on a political, social and economic level. With this in mind, wealth equality isn’t just a issue that produce economic inequality, and social problems on a national level in this country but significant problems in the world.
Needless to say wealth equality produces a damaging impact from multiple disciplines or populations in developed nations such as the U.S. and Canada however, global inequality is growing. A report tells us, “Wealth inequality has continued to increase since 2008, with the top 1% of the world’s population owning 50.4% of all household wealth” (Treanor, 2017).