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The American dream affects
Essay on inequality in economics
Economic inequality essay
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Inequality of Wealth When it comes to the topic of economic inequality, most of us will agree that inequality has started hundreds of years ago and is still ongoing. When I was a child, I used to think the reason someone may have been less wealthy is because they did not have a strong work ethic. Society has been categorized into various social classes which made me think that is was normal for people to have to struggle to make ends meet and live comfortably. The gap between the rich and poor has always existed and has gotten worse. According to Joseph Stiglitz, Inequality is the result of political and economic forces, while his theories are true, there are further reasons. Inequality came to exist because people relied on the idea of “The American Dream,” discrimination, and the inheritance of wealth and opportunity. For a lot of people, “The American Dream” is about becoming wealthy from the ability to achieve everything if one works hard enough- from rags to riches. The five men who built America are the …show more content…
Regarding one of the factors of inequality, women face wage gaps between men. An excuse made for this unequal pay is men and women working different jobs and industries. There is a riddle with a scenario of a boy and man in a terrible car accident, and are rushed to the hospital. The doctor notices the boy is their son and refuses to operate. When a lot of people think of the answer for this question, it barely crosses their mind that the doctor is the mother which insinuates that only men are typically doctors. Even under the same job, women continue to get considerably less than men. Women may not be promoted to higher positions in their fields either. Certain jobs may deny immigrants and minorities work on the fixation that they are not fit for certain professions. In order to break down the “glass ceiling,” everyone must be viewed as equal instead of
The reality of wage differences between men and women is that above all changes women continue to earn less than men. Countless arguments have promoted that wage inequality has changed and that everyone finally receives an equal amount of pay. “For women of color, the gap is largest of all: In 2006, black and Hispanic women earned 86 and 87 cents on the white man’s dollar, respectively,” (Mcswane 2). If a woman is lucky enough she will get an equal pay compared to a man doing the same job. But it is challenging for a woman of a minority background to achieve this. Not only are women paid less because of their sex, but also because of their race. There seems to be a mentality that because someone is a woman and a minority that they cannot do the same job as men or that women do not have the same education as the men, so employers do not have to pay them the same. “When the numbers are broken down by district, they 're pretty hard to ignore. Women in Texas are being utterly screwed financially, according to the data compiled by AAWU, with women earning anywhere from 66 percent of what men do in some districts, to the top end of things, which is about 89 percent,” (Leicht 4). The proof cannot be ignored. It i...
Wealth inequality is a real issue that needs to be fixed. The imbalanced growth of the upper class compared to the middle class is a danger to American society as a whole. The rich becoming richer while the middle class remains the same leads to a power imbalance, with the rich using their money to run the country the way they see fit while the middle class speaks to ears that do not listen. The issue of wealth inequality needs to be fixed by raising taxes on the rich.
First we must understand how inequality started. Obviously like I mentioned before there will always be inequalities such as intelligence and looks no matter what. Ignoring that, lets understand how inequality came to be. As soon as a organization is formed is when inequality takes place. In an organization there are different roles that have different powers and ultimately there is some sort of ranking between people in this organization. Understanding this will help you understand why the world is the way it is now. It helps you understand why there is different economic classes and why some people make more money than others. If you ask any sociologist how did inequality emerge in the first place they will tell you it’s because of social conflict and the division of labor. The division of labor is basically referring to when different people take part in a task to improve efficiency. An easy example of this would be a factory or any job you can find. Once positions of power are crated then inequality is formed. Knowing that general idea will help make sense of why inequality is here and why it is very difficult to get rid
3. What are the effects of this wealth inequality in the US and what causes it, as well as some possible solutions and their ramifications, will all be discussed and answered below. There has always been a wealth gap between the richest and poorest in society. However, in the past decade, the wealth gap between the richest and poorest citizens in the US has been growing rapidly. In the 70s and 80s, the wealth and income growth rate for both poor and rich people were similar, however, between the years 2009 and 2012 the top 1% income increased 31% while for the bottom 20%, their income actually dropped and for the vast majority of Americans, the average yearly income only increased by 0.4% [4].
Throughout American history, wealth inequality has taken many different forms, and has affected many people and groups in different ways. In the following analysis, two measures of 'wealth inequalities' will be used. First is a more traditional view, regarding the distribution of income and wealth among the upper to lower classes. The size of the gap has varied over time, widening and compressing throughout American history. While America has been thought of as a middle class nation, this is a fairly recent phenomena that began after World War II. In this context of today, this idea appears to be fading as wealth is becoming more concentrated towards the upper classes. Additionally, these effects of both the concentration and equalization of income distribution can differently affect groups of people.
Inequality as previously mentioned is a subject that gets debated when brought up and in any debate there is two sides. In class we have discussed both side of the story of inequality, and it has give me a better perspectives of income inequality. When discussion income inequality, we brought up the concept of the economic pie in which states that the economic pie is a reference to the way income gets distributed among the lower, middle, and higher class of America. So the concept of the economic pie states that the rich is getting richer, so they are
Income inequality has affected American citizens ever since the American Dream came to existence. The American Dream is centered around the concept of working hard and earning enough money to support a family, own a home, send children to college, and invest for retirement. Economic gains in income are one of the only possible ways to achieve enough wealth to fulfill the dream. Unfortunately, many people cannot achieve this dream due to low income. Income inequality refers to the uneven distribution of income and wealth between the social classes of American citizens. The United States has often experienced a rise in inequality as the rich become richer and the poor become poorer, increasing the unstable gap between the two classes. The income gap in America has been increasing steadily since the late 1970’s, and has now reached historic highs not seen since the 1920’s (Desilver). UC Berkeley economics professor, Emmanuel Saez conducted extensive research on past and present income inequality statistics and published them in his report “Striking it Richer.” Saez claims that changes in technology, tax policies, labor unions, corporate benefits, and social norms have caused income inequality. He stands to advocate a change in American economic policies that will help close this inequality gap and considers institutional and tax reforms that should be developed to counter it. Although Saez’s provides legitimate causes of income inequality, I highly disagree with the thought of making changes to end income inequality. In any diverse economic environment, income inequality will exist due to the rise of some economically successful people and the further development of factors that push people into poverty. I believe income inequality e...
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.
When people are talking about CEO’s, Presidents or any other person in a high position, who comes to mind? For most people, the person that comes to mind is a white male. Even in one of the most progressive and modern countries in the world males are associated with positions of power. Gender inequality refers to the unequal treatment or perceptions of individuals based on their gender. Although we have made abundant steps in narrowing gender inequality, patriarchy still continues in society and thus women today have yet to gain the same opportunities in the workplace. Even with acts such as the Equal Pay Act that passed 35 years ago, today, half of the workforce is consists of women, but the average workingwoman earns only 80.9% of what the workingman makes. There is also a lack of promotion in high positions for qualified women in the work force. These are just a few of the work place inequalities that females are faced with. Even with the many steps taken to ensure equality in the work field, the gender discrimination continues to exist.
The critical rank for reducing gender inequalities should be education, labor force participation, and lastly, wages. There are obvious differences between men and women whether it’s anatomically, financially, and so forth. The gender inequalities women face compared to men is alarming and saddening. Gender stereotypes reinforce gender inequalities because stereotypes can often be internalized which results in biases against either sex. These biases against a person can result in negative results. Gender inequality has been within our society for a long time especially amongst women.
The main ideas of the American dream as well as the way we are exposed to them is ever-changing. Nowadays, to a large portion of individuals, the American dream is to own a big house and a nice car. . Though the term the “American Dream” was not introduced until 1931 by James Truslow Adams it was birthed with the signing of the Declaration of Independence (Where Is the American Dream?). Founding fathers did not conjure this dream in means of monetary success but the ability and freedom to be as equally successful as how hard you work and not of what or who you are. The byproduct of such freedom could then be to own a big house and a nice car. One of the most infamous phrases in the Declaration of Independence,
The issue of gender inequality will never truly be solved in the United States. This arises from differences in socially constructed gender roles as well as biologically through hormonal differences, chromosomes, and brain structures. Gender inequality is defined as unequal treatment or perceptions of individuals based on gender. One of the reasons for gender inequality is income disparities. Another reason is because of the positions in the workplace. Thirdly, the reason is because of beliefs that one another has. For these reasons is why these situations should be examined to get to the root of the problem.
Economic inequality is ingrained in our society. Because of this fact, many would argue that “that’s just how it is,” but in reality this is not how a community is suppose to function. As Michael Sandel writes in his book Justice, “As inequality deepens, rich and poor live increasingly separate lives.” Sandel makes an excellent point. As economic divisions, such as the ones present in the United States, worsen, the classes diverge on every level. Wealthy people attend different schools, purchase luxury cars, and live in gated communities. Meanwhile, the poor live in squalor, use public transportation, and attend failing schools. Aside from the lack of a quality education making it harder to escape poverty, the poor are from birth at a disadvantage to those on the other side of the economic scale. The United States is not a land of guaranteed equality of result, that is...
“The American Dream,” the idealistic term of prosperity we have all heard and read about throughout our lives and from our educational history courses, originates back to 1931. Penned by the famed writer, James Turslow Adams, in his work, “The Epic of America.” In his book, Adam (1931) describes the American dream as “"that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement." An idea that if someone, anyone, comes to America and puts forth the time and hard work, that you will be rich and successful. This promise of material affluence brought immigrants from all around the world to the land of opportunity and freedom in the pursuit of happiness that
Income inequality continues to increase in today’s world, especially in the United States. Income inequality means the unequal distribution between individuals’ assets, wealth, or income. In the Twilight of the Elites, Christopher Hayes, a liberal journalist, states the inequality gap between the rich and the poor are increasing widening, and there need to have things done - tax the rich, provide better education - in order to shortening the inequality gap. America is a meritocratic country, which means that everybody has equal opportunity to be successful regardless of their class privileges or wealth. However, equality of opportunity does not equal equality of outcomes. People are having more opportunities to find a better job, but their incomes are a lot less compared to the top ten percent rich people. In this way, the poor people will never climb up the ladder to high status and become millionaires. Therefore, the government needs to increase all the tax rates on rich people in order to reduce income inequality.