Aftershock: Wealth and Reich

Topics: Wealth, Great Depression, Economy of the United States Pages: 4 (1538 words) Published: April 7, 2013
Robert Reich’s book Aftershock had many thoughts and ideas in it on how the economy can be fixed while it was still not doing so well. Many factors come into place when people wonder why the economy failed; maybe it was the people who brought it on themselves or possibly the government. According to Reich we are currently in a “Great Recession” and the people who are most greatly affected by this is the middle class of society and since that is happening it just means that rich people just keep on making more money while poor people continue to make less money. People have many theories on to why the economy crashed but there are also plenty of ways that the economy can be fixed as well. Reich first begins to talk about in his book how the separation of classes makes the rich get richer and the poor are getting poorer which in return puts a huge gap in our society. This comes about from many things that have been going on in our nation for a while now. One main of the main reasons is that wealthy people have been saving their money for years now because they eventually end up running out of things to buy. A very famous example who is used in the book would be Warren Buffet, Warrant Buffet has lived in the same house for the past forty years and does not buy a ton of other luxuries. Well the kind of problem that we are left with because of this now is that there is a large amount of debt that will need to be payed off and it can not be done without the wealthy agreeing to some sort of payment to help get rid of the economy’s debt. The process keeps going down the ladder with the wealthy as well, since they have money they send their children to private prestigious high schools and colleges. Which in return means they end up going to schools where there parents and grandparents probably went and they become third or even fourth generation students at schools and end up going on to have successful lives just as there parents did. However as for...
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