StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Collapse of the Middle Class in America - Essay Example

Cite this document
Summary
United States of America can be observed to experience a decline in their wealthy lives and heading towards a level of poverty owing to the periods of economic slowdown. Issues related to social security, the Iran and Afghanistan wars, the necessary healthcare systems as well as the unemployment of large number of people are of huge concerns in the current times for the country (Harris)…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Collapse of the Middle Class in America
Read Text Preview

Extract of sample "Collapse of the Middle Class in America"

Download file to see previous pages

The present study focuses on the poverty in the lives of the Americans with the collapse of the middle class and the American Dream getting lost. Collapse of the Middle Class: The devastation of the middle class population in America is one of the major issues for the country’s concern. The income of the middle class in the recent years has shown to be much lower creating concerns for companies selling their products to these sections of people. The wages received by the working middle class man have declined to such levels that their security is no more guaranteed.

According to information provided by the US Census Bureau based on a survey, it has been obtained that every one American among six Americans is living a life of poverty in the present times. The level of incomes has shown to decline by 2.3 percent in the year 2010. It reflects an unbalanced situation for the country where the political figures are unable to provide with any constructive response to the problems the country is encountering (Harris). In such a condition of state, it can be realized that the population of the country are highly dissatisfied with the country’s inability to create solutions.

Also the future of the social security is an unknown unless some constructive measures are undertaken to change the situation. As reports from Moya reflect, several American cities are under the conditions of debt crisis that include more than 100 cities in the country and cities Detroit, Madrid, Florence, Barcelona, Whitney and California among others are the sufferers who are continuously struggling to keep up with the position (Moya). The Lost American Dream: The American Dream for the population of the country was based on their hard work and struggle that would lead the country to reputation, victory and prosperity.

This was supposed to be achieved by the country on a long term and with consistent performance of hard work and struggle. However, the countrymen seem to follow the notion of earning money quickly and the industrialization of the country in the recent centuries proved to alter the values of the dream. Gradually the nation started looking for means to gain wealth through shortcut techniques that eventually reflected a darker side of the human nature. People started being more concerned with the easy earning thus forgetting their responsibilities towards the nation and engaging in activities that led to legal issues as well.

The Dream might still be considered to be alive but in the unethical means and at the cost of others. The American Dream that the country had dreamt several years back is lost in the midst of the population’s self-indulgence for easy money considering the ethical factors to be secondary (Warshauer). Karl Marx and Capitalism: According to Karl Marx, the classes of people in a society could be classified into two different classes, one being the bourgeoisie and the other being the proletariat.

He ignored the presence of any middle class population. According to his theory, the elite or the bourgeoisie class involved the sections of people would follow capitalism and let the proletariat group of people serve under and for them (Covington, 26). Marx was a critic to the capitalist nature of the society as he believed this system to dictate human beings and force them to work under the capitalist sections of people. Thus his criticism focused on the human relationships and led to an understanding of a probable breakdown of the society owing to the capitalist behavior of a particular section of people within the society (Wood, 221).

In the present

...Download file to see next pages Read More
Tags
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Poverty Essay Example | Topics and Well Written Essays - 750 words - 2”, n.d.)
Retrieved from https://studentshare.org/sociology/1436834-poverty
(Poverty Essay Example | Topics and Well Written Essays - 750 Words - 2)
https://studentshare.org/sociology/1436834-poverty.
“Poverty Essay Example | Topics and Well Written Essays - 750 Words - 2”, n.d. https://studentshare.org/sociology/1436834-poverty.
  • Cited: 0 times

CHECK THESE SAMPLES OF Collapse of the Middle Class in America

The Effects of the Cold War on the Middle East

The Effects of the Cold War on the middle East.... The Effects of the Cold War on the middle East.... A Brief Overview of the Cold War The Cold War can be defined as the conflicts of interests between the two superpowers, the United States of america and the Soviet Union, in the post Second World War period.... 69-74) Reagan's Policy to Win the Cold War Reagan's policy towards the Soviet Union can significantly be marked as a dual approach in the sense that on one hand Reagan's administration chose to provide both overt and covert support to anti-communist communities and guerrilla movements in order to “roll back” “Soviet-backed communist governments in Africa, Asia, and Latin america” (D'Souza, 2003) and on the other hand, it put effort on growing an intimate, but cautious, relationship...
9 Pages (2250 words) Essay

The Iranian Revolution and the Beginning of the Islamic Republic

This antagonism particularly fuelled by the Regime's military dictatorship and use of the secret police (america trained SAVAK police) to manage the country.... F.... Naz Hosseinpour Tutor Paper Proposal Date Due: 29th February 2012 Iranian Revolution & the beginning of the Islamic republic This paper focuses on the reasons Shah's Regime fell and whether the revolution's outcomes reflected the ideals that had triggered the revolution....
14 Pages (3500 words) Research Paper

Financial Stroke, Stock Market Crash of 1929

The crash and resulting depression had a profound effect on New York and the middle class.... October 29, 1929, the Dow Jones Industrial Average disintegrated and with it, the financial condition of investors vanished and the middle class deteriorated.... The stock market crash of 1929 affected the financial condition of investors and the middle class deteriorated.... ctober 29, 1929, the Dow Jones Industrial Average disintegrated and with it, the financial condition of investors vanished and the middle class deteriorated....
10 Pages (2500 words) Term Paper

WASHINGTON MUTUAL BANKRUPTCY CLASS ACTION LAWSUIT

Coming less than sixty days after the famous IndyMac collapse and hot on The total collapse of WaMu would have been disastrous for the Government.... In the last financial quarter ending prior to the takeover, June 30, Washington Mutual Bank (WaMu) had assets of over three hundred billion dollars....
4 Pages (1000 words) Research Paper

Federalists and Republicans

The Federalists aimed at enriching the wealthy class in the community whereas, The Republicans fought against the oppression of the poor and the middle class.... he Republicans on the other hand believed in a federal government whereby they did believe that the middle class should be the core of America's economy.... His opposition was backed by the poor and the middle class since he fought for a non corrupt body of governance.... The Republicans on the other hand were supported by individuals from all the three distinctive classes with the majority of supporters being the poor and the middle class....
2 Pages (500 words) Essay

Existence and Stability of Middle Class

rom the table above, Weston (2011) tries to illustrate the definition of the various socioeconomic classes based on the range of earnings that they make and the position of the middle class has been highlighted in bold.... In this discourse, Alternatively, a counterargument is presented to the effect that the middle class does not exist.... Among the five presumed socioeconomic classes is the middle class which can be defined as the class comprising of between one-third to a fifth of employees in an economy and has white-collar employees, junior managers, small and middle entrepreneurs....
6 Pages (1500 words) Term Paper

Description of Investment Banking

Middle office – the middle office involves the research function of investment banking.... The paper gives detailed information about the investment banking, describes its function (front, middle and back offices) and operation.... The paper examines the investment banking which deals mainly with helping individuals, companies, and governments to raise money by underwriting and acting as its middle person in the issuance marketable securities....
4 Pages (1000 words) Essay

The Great Depression and Great Recession

The paper "The Great Depression and Great Recession" is an outstanding example of an assignment on macro and microeconomics.... The great depression that occurred about 80 years ago caused severe economic problems.... Approximately a 13million Americans became unemployed (Brandolini, Micklewright & Nolan, 2012)....
9 Pages (2250 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us