The Problem with the Income Disparity
Khylinn Hayes
Professor Grolemund
Research and Writing
11 February 2013
The Problem with the Income Disparity, or:
An Eagle-Mounted Buddha Mediates a Duel between Marx and Robespierre
In our society there exists a horse that has been beaten well past death. This horse has been pulverized into the planes of oblivion, the Fields of Asphodel, or so far into the cosmos that it no longer even resembles a horse at all. Instead, it manifests in protestors, history, and politics. The name of the horse is income disparity, more specifically the ever-increasing gap between the wealthiest citizens of America and the poorest. The problem here is that while this is not necessarily a good thing, it is not inherently bad either. Without differences in income, there is no socioeconomic diversity – everyone making the same amount of money regardless of occupation is nothing other than Communism. The challenge lies in finding a middle ground, and balancing the income gap without challenging our democratic ideals. If the problem is not solved the right way, it will inevitably solve itself through whatever means necessary. This is in keeping with how the free market economy of the United States always reaches equilibrium, as economies of the past have always done. We aren’t doomed to fail, and our economy won’t collapse, but if the income gap continues to grow at an unsustainable rate some rather nasty things have the potential to happen. The income gap must be adjusted before these unpleasant events take place, but we need to maintain caution so as not to damage the capitalistic free market that represents the democratic ideals we hold so dear. To begin, while the differences in income are a bad thing, there are certain misconceptions that need to be cleared up. While certain groups in the media and the forefront of the debate over income inequality argue of a “1 percent” and the “99 percent”, and these groups certainly do exist, what needs to be mentioned is the fact
Professor Grolemund
Research and Writing
11 February 2013
The Problem with the Income Disparity, or:
An Eagle-Mounted Buddha Mediates a Duel between Marx and Robespierre
In our society there exists a horse that has been beaten well past death. This horse has been pulverized into the planes of oblivion, the Fields of Asphodel, or so far into the cosmos that it no longer even resembles a horse at all. Instead, it manifests in protestors, history, and politics. The name of the horse is income disparity, more specifically the ever-increasing gap between the wealthiest citizens of America and the poorest. The problem here is that while this is not necessarily a good thing, it is not inherently bad either. Without differences in income, there is no socioeconomic diversity – everyone making the same amount of money regardless of occupation is nothing other than Communism. The challenge lies in finding a middle ground, and balancing the income gap without challenging our democratic ideals. If the problem is not solved the right way, it will inevitably solve itself through whatever means necessary. This is in keeping with how the free market economy of the United States always reaches equilibrium, as economies of the past have always done. We aren’t doomed to fail, and our economy won’t collapse, but if the income gap continues to grow at an unsustainable rate some rather nasty things have the potential to happen. The income gap must be adjusted before these unpleasant events take place, but we need to maintain caution so as not to damage the capitalistic free market that represents the democratic ideals we hold so dear. To begin, while the differences in income are a bad thing, there are certain misconceptions that need to be cleared up. While certain groups in the media and the forefront of the debate over income inequality argue of a “1 percent” and the “99 percent”, and these groups certainly do exist, what needs to be mentioned is the fact
Cited: Acemoglu, Daron, Simon Johnson, James Robinson, and Pierre Yared. "Income and Democracy." National Bureau of Economic Research (2008): 808-842.JSTOR. Web. 7 Feb 2013. Allen, Frederick E. "How Income Inequality Is Damaging the U.S.." Forbes Magazine. 02 10 2012: n. page. Web. 7 Feb. 2013. <http://www.forbes.com/sites/frederickallen/2012/10/02/how-income-inequality-is-damaging-the-u-s/>. "Income inequality in America: The 99 Percent."Economist. (2011): n. page. Web. 7 Feb. 2013. <http://www.economist.com/blogs/dailychart/2011/10/income-inequality-america>. Lee, Cheol-Sung, François Nielsen, and Arthur S. Alderson. "Income Inequality, Global Economy and the State." Social Forces 86.1 (2007): 77-111.JSTOR. Web. 7 Feb 2013. "The growing wealth gap is unsustainable." Observer. 02 02 2013: n. page. Web. 7 Feb. 2013. <http://www.guardian.co.uk/commentisfree/2013/feb/03/capitalism-reform-essential?INTCMP=SRCH>.