Preview

Wealth Inequality Analysis

Powerful Essays
Open Document
Open Document
1256 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Wealth Inequality Analysis
The United States is a capitalistic nation, which is a normal phenomenon to have a wealth inequality. Otherwise, it would be a communist nation. However, when the wealth gap is too wide, there would be a big problem, such as the working class people are not able to afford their shelters and foods. Capitalism is known as an economic and political system in which a country’s trade and industry are controlled by individuals rather than the government. In other words, capitalism is a system that the fittest and the richest survive. Therefore, capitalism is the major cause of the wide income and wealth inequality gap. A capitalist society is based on the idea you will gain from how much you have worked. “A firm in a capitalist society can pay successful …show more content…
And we have to find out do other capitalism nations have the same situation as United States. The wealth chart and data of other nations is needed to be read. If other capitalism nations also have a wide inequality gap, then we can clearly prove capitalism causes a wide inequality gap. The methodologies that should be used to analyze the relationship between the inequality gap and capitalism are to find the out the definition of capitalism, what does capitalism do, and search how many capitalism nations have a large inequality gap. We have to consider the time the country has practiced capitalism and how wide is the gap. Then we can conclude that capitalism is the real cause of a wide inequality gap. The whole concept of my proposal is surrounding the theme of American social study because the United States have convinced so many countries to practiced Capitalism since the cold war. Now, it has faced a problem, which is the wide inequality gap that has affected the nation economically, politically, and socially. The poor people in Silicon Valley cannot even support themselves, New York City’s subway has a lot of homeless peoples that have no jobs, the businessman like Donald Trump are trying to involve the politics, and people born in poor family is almost impossible to shift to the rich class. These all are big problems caused by

You May Also Find These Documents Helpful

  • Good Essays

    Capitalism is a system that forces the individual to play by its rules. These events or public changes to society are challenges that either help or hinder a group, a society or the individual. Events reinforce a person’s survival instincts and the capitalist is always in the middle trying to figure out how they could make money off of these events/challenges. Capitalism existence is inevitable but we allow it to further take advantages of the struggling and the greedy, the spirt of capitalism. This has been emphasized and drilled into the individual to believe they have a “duty” to this capitalism- to be rich and find riches at all cost. “…many diffuse, discrete, more or less present and occasionally absent concrete individual phenomena, which are arranged according to those one-sidedly emphasized viewpoints into a unified analytical construct (p.274).” This is simply one sided, in which it enriches more of the 1 percent. This is where the “ideal types” become the influenced objective causes of actions. We work harder for the idea that we will rise only to indebt ourselves more and to…

    • 781 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Capitalism is a system that can be used in different areas such as political, social and economical. Capitalism is a system where the country makes money by people having private businesses. Under capitalism, the country’s economy is run by people owning capital. The goal of the businesses under capitalism is to make money. The businesses want to make the value of the company as high as possible. When a country is under capitalism, the government makes laws to make sure that all businesses are fair. Capitalism takes place all around the world in places such as the United States and Germany (Demott).…

    • 902 Words
    • 4 Pages
    Better Essays
  • Good Essays

    No matter China or Australia, the main reason that cause income and wealth inequalities are still wages and employments. The income and wealth inequalities effect the society negatively. So the governments must have some solutions to curb the growing negative…

    • 710 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Let the battle begin, on the left we have European Socialism and on the right we have American Capitalism! Round One: What is Capitalism? Capitalism is regarded as an economic system and a political strategy distinguished by certain characteristics whose development is conditioned by numerous variables. So how is Capitalism viewed in the United States of America? American Capitalism can be viewed in multiple fashions: they currently possess a very dominant economic system in the world, private ownership has been noticed as the main means of production, there is also the hierarchy of private owners and free wage-earners, which is organized to facilitate expanding accumulation of profit by private owners; and the production of commodities for sale. In layman’s terms, this all means that the production and distribution are owned by individuals: private ownership and free enterprise. These industries owned by individuals are believed to lead to more efficiency, lower prices, better products and rising prosperity. Now let’s take a step back into time and see where American Capitalism started and why it was started.…

    • 2286 Words
    • 10 Pages
    Powerful Essays
  • Better Essays

    Capitalism is orientated to the continual accumulation of material wealth – as capital. The material wealth in capitalism is in the form of productive capital. Wealth is used to build machines and equipment. The sole purpose of the wealth is to create still more wealth. Consequently, capitalism is expansive in terms of the value and volume of its output. This character of capitalism is the source of its extraordinary historic impact. The capitalistic force dominates the economic transformation of America.…

    • 7707 Words
    • 31 Pages
    Better Essays
  • Satisfactory Essays

    In the news article “The Economic Consequences of Income Inequality” which was written by Tuomas Malinen, He wrote about how will these large disparities affect the economy in the future? with academic research. He said that theoretical research shows income inequality can affect both from inequality to growth and growth to…

    • 52 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Capitalism has become the social norm in just about every country across the globe. This is especially so, here in America. When you stop and think about the true definition of a capitalist society, you usually…

    • 590 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Income inequality is a universal and controversial problem in today’s society. The increasing income inequality in America means that the social resources are not evenly distributed to people, and the most wealth in America is holding by a tiny of the richest people. This increasing inequality creates a big gap between rich and poor people, and affects the economic growth of the society. Therefore, liberals think income inequality is harmful to people, and it can make people be valued unequally and reduce education opportunities. In contrary, conservatives have an opposing view of income inequality, and they believe income inequality is an opportunity and motivation to low income people to stimulate them to become more successful. For myself,…

    • 132 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Economic inequality is the variance found in many processes of economic well-being among individuals in a group, among groups in a population, or among countries. Economic inequality is sometimes called income inequality, wealth inequality, or the wealth gap. Social inequality arises when resources in society are distributed unevenly, through the types of distribution, which create specific patterns along the lines of socially defined groups of people. It is the different preference of access of social goods in the society brought about by power, religion, kinship, prestige, race, ethnicity, gender, age, and class. The social inequalities include labor market, the source of income, health care, and freedom of speech, education, political representation,…

    • 592 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Capitalism In America

    • 1302 Words
    • 6 Pages

    Undeniably, capitalism is the most dynamic social and economic system ever found on earth. With its fundamental principles of individual rights, free market, and the ultimate purpose of profit seeking, the modern capitalism has created the most prosperous time ever known in human history. The recent history also witnesses that capitalism has transformed and built American into an economic superpower on earth. However, the intrinsic nature of capitalism is just like any kind of magic drug. The more powerful it is, the severer side effect it possesses. While the signs of affluence are almost everywhere in America, so are the economic inequalities, especially the evident disparities in the distribution of wealth and income. As a matter…

    • 1302 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    The Gilded Age

    • 4082 Words
    • 17 Pages

    A successful economy is perhaps the most key ingredient leading to a successful nation. An economy is a delicate balance of many different conflicting and coexisting elements. Naturally, an economy's success can often be measured by the amount of wealth is contains, not to mention the effectiveness or ineffectiveness of its distribution of the wealth. Effective distribution of wealth is no easy feat. Wealthy and poor people will always need to coexist- this is an inescapable truth. The government's job in many cases becomes that of a referee. Naturally, perfect peace and harmony between to totally different classes would be a utopia, and probably will never be completely achieved. A government must, therefore, regulate economy so that one class does not overrun the other. "The real struggle is over a vastly more important issue: who owes what to whom. This most hoary and basic of all social debates usually afforded reverence and inattention of great art: People know its there and mostly they ignore it"(Wines238). Society will constantly debate this issue. By very definition, however, there will also always be a wide spectrum of opinions because of social status. Naturally, the poor will always feel cheated because they feel as if opportunity never has and never will pass them by. The rich, conversely, will always feel as if they are doing society a great favor simply by having their wealth. Poor versus rich debates will never go away no matter how much change is done to government and society. The "just deserts" theory of poverty is one that best describes American society. "For many, the logic of the mobility ideology led to a ‘just deserts' rationalization. The matter was simple, according to a local editor: ‘We declare it a vice and a sin for a man to be poor, if he can help it.' And the typical poor man in America could help it"(Thernstrom33). More often than not poverty can be helped. Perhaps poverty is what is deserved for laziness in American society.…

    • 4082 Words
    • 17 Pages
    Powerful Essays
  • Good Essays

    Economic inequality encompasses two very concerning issues that negatively affect the citizens of the United States as well as those in other countries. The first is income inequality; "This describes the gap in how much individuals earn from the work they do and the investments they make." Secondly, there is wealth inequality which "measures the difference in how much money and other assets individuals have accumulated." (Matthews, 2014). There are a variety of opinions on how to address these issues. Some of these ideas include the government requiring large companies to redistribute income so that there is not such a huge gap between the CEO and the laborer, then there is affordable education which would allow more people to go to…

    • 747 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Most countries today follow a capitalistic system, although we can still find those who practice the communist regime such as Cuba and North Korea. Communism and capitalism are 2 of the most well-known systems to have ever existed. By definition, capitalism is a social system in which a country’s trade and business is controlled by private owners. Communism on the other hand is a system in which there is equality in the economy and private businesses are eliminated. Both systems differ in several ways which can be summarized into 3 categories: the social view, the economic view, and the governmental view.…

    • 879 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Political Economy

    • 1066 Words
    • 5 Pages

    To begin with, in every part of the world human live with finite resources. In addition quality and variety of natural resources, geographical features and society characters are changeable from country to the other country (Robinson, 2009). Therefore neo-liberal economists claim that everything is beginning and developing unequal in the world and capitalist system is right to continue to this unequal process in society. However, although it is undeniable that some inequalities can not be changed, it is crucial to remember the…

    • 1066 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Principal of Economics

    • 1236 Words
    • 5 Pages

    1. Increasing inequality in wealth: As an economic system characterized by the private ownership of the means of production and distribution, there exists the obvious tendency for the increasing inequality in wealth. Because the entrepreneur has the advantage to manipulate the factors of production, especially labour and capital, as he considers best in order to achieve the highest measure of profit. By the end of the day, the capitalist receives a considerable portion of the profits that accrue to the business enterprise, while the labourers or working class, gets comparatively less reward for their efforts. This widens the gulf of economic inequality. However, with the increased recognition of collectively bargaining, this tendency is gradually being checked.…

    • 1236 Words
    • 5 Pages
    Better Essays