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Why the Rich Are Getting Richer and the Poor, Poorer - Essay Example

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Why the Rich Are Getting Richer and the Poor, Poorer
Man has coexisted with the element inequality since time immemorial. There was a means via which man could create social clusters then inequality was always eminent. This social feature is sourced from political, social, economical perspectives. …
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Why the Rich Are Getting Richer and the Poor, Poorer
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Download file to see previous pages These three aspects have been a characteristic of society since the creation of the first social group. This then highlights the intrinsic extent of inequality. However, in the aim of maintaining the objectivity of this paper, economic inequality will be the principal focus. This is hinged on the fact that the main distinguishing element in the contemporary society is phrased in economic terms. The economic power and potential of an individual is used to elevate them into higher status. As such, the main rationale for this eventuality is the wage inequality of the contemporary society. A majority of the people are dependent, wholly, on the wages as their principal source of income. This translates to mean that changes in level of wage are bound to instigate a change in economic capabilities of the household. In this way, the rich continue to increase their wealth while the poor continue to struggle out of economic troubles that are continuously becoming difficult. In the endeavor of explicating on this pertinent issue, this paper will expound on the complexities of this subject matter. As such, it will include the work of Richard Reich, which tackles this issue. Economic inequality is at times regarded as an intrinsic element that cannot be removed. However, with the proper policies and attitude changes, this much needed realignment will be eventually be realized. In the absence of this, the level of inequality will continue to increase rapidly. The existence of inequality is imperative for the growth of a society. This is hinged on the rationale that this inequality is at times an element of motivation. As such its absence will lead to many looking for external motivating factors to work hard in life. There is always going to be those individuals I society who does not want to work hard like the other kinfolk. As such, with persons such as those in the society, it is a remarkable feat to counter the effects of such behavior. These assertions do not signal the absence strategies and subsequent policies that have been structured to aid in the reduction in the level of inequality. Rather, these assertions propagate the notion that these pre-existing policies are not efficient towards realizing this goal. As such, there is a need to offer fashion new strategies and polices that have a higher probability of realizing this goal of equality reduction. However, prior to embarking on the exercise of strategizing, it is essential to understand, first, the complexities of economic inequality. Robert Reich dedicates his article, “Why the Rich Are Getting Richer and the Poor, Poorer” to this increasing economical gap between the upper, middle and lower class of people. To this fact, he employs the use of metaphors that are characterized by three boats. He continues to assert that these three boats are rising and falling. The rate with which these boats are sinking is varied. Additionally, it is dependent on the occupants and their role in corporate America (Reich 309). The boat representing the workers involved in routine processes is sinking at a rapid rate. The second boat represents the in-person servers and its rate of sinking is slow. However, in contradiction to the two previous boats, the third boat is rising steadily. This boat represents the symbolic analysts. Instead of simply stating the members of each boat and their respective rate of sinking, Reich gives the adopted rationale for the theory. The rapid rate of the first boat of routine workers is because of outsourcing initiatives employed by American firms (Reich, 310). What is referred to as cheap production alternatives is detrimental to the welfare of these routine workers. American firms, and many international firms, are ...Download file to see next pagesRead More
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