Income Inequality
Income Inequality Gap
Over the years America’s inequality income gap has been growing, between the rich and the poor. There are many reasons why this is happening. Andrew Carnegie, John Kenneth Galbraith and Joseph Stiglitz may agree with me, but believe there are different reasons why and how it should be dealt with. I would have to say that I agree that Galbraith’s idea is what is better for America now.
In the essay “The Gospel of Wealth” Andrew Carnegie says that the rich should invest their money to do good for the public (396). He argues that the rich should do something with their money instead of put it to waste when they die. Many people tend to not enjoy their money; they save until one day they realize it is too late. Carnegie believes that this money should be put into good instead of waste. One way that Carnegie mentions that the rich should do is charity. He used the example of a free public library in New York City to support his argument. A public library helps families and children economically, and educationally. If the children get the education they need they have better opportunities and less chance of living in poverty in the near future. Carnegie tries to convince us that; if the rich invest money into improving the community then there will be a slight chance of less poverty. I agree, but it also depends on the person. Some people take advantage of the help they are getting from government or even from higher class society. Carnegie idea could work but it may also backfire and make things worse. If the poor start to rely on the rich to help them with their problems, they may not do anything about it because they know there will be someone to “bail” them out of trouble. This is a bad thing because people would not want to start making effort to start doing better. A great example in America today is unemployment. Today the citizens receive unemployment money if they are layed or fired. Carnegie might say many people take advantage of
Over the years America’s inequality income gap has been growing, between the rich and the poor. There are many reasons why this is happening. Andrew Carnegie, John Kenneth Galbraith and Joseph Stiglitz may agree with me, but believe there are different reasons why and how it should be dealt with. I would have to say that I agree that Galbraith’s idea is what is better for America now.
In the essay “The Gospel of Wealth” Andrew Carnegie says that the rich should invest their money to do good for the public (396). He argues that the rich should do something with their money instead of put it to waste when they die. Many people tend to not enjoy their money; they save until one day they realize it is too late. Carnegie believes that this money should be put into good instead of waste. One way that Carnegie mentions that the rich should do is charity. He used the example of a free public library in New York City to support his argument. A public library helps families and children economically, and educationally. If the children get the education they need they have better opportunities and less chance of living in poverty in the near future. Carnegie tries to convince us that; if the rich invest money into improving the community then there will be a slight chance of less poverty. I agree, but it also depends on the person. Some people take advantage of the help they are getting from government or even from higher class society. Carnegie idea could work but it may also backfire and make things worse. If the poor start to rely on the rich to help them with their problems, they may not do anything about it because they know there will be someone to “bail” them out of trouble. This is a bad thing because people would not want to start making effort to start doing better. A great example in America today is unemployment. Today the citizens receive unemployment money if they are layed or fired. Carnegie might say many people take advantage of
Cited: Carnegie, Andrew. “The Gospel of Wealth,” in A World of Ideas. Lee. A. Jacobus. 8th. New York: Bedford/St. Martin’s, 2010 Galbraith, John Kenneth. “The Position of Poverty,” in A World of Ideas 8th. Lee. A. Jacobus. 8th. New York: Bedford/St. Martin’s, 2010 Stiglitz, Joseph. “Of the 1%, by the 1%, for the 1%” Vanity Fair May 2011. < http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105>