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The rich have continued to amass so much wealth and grow richer while the poor have continued to live in poverty and their economic power has reduced such that they cannot afford to provide for their most basic commodities. To understand the disparities between the rich and the poor, it is important for us to look at the class theory (Dadush, Dervis and Milsom 3).
In every society, the standards of living can be divided into a structure of classes. There are mainly three levels of classes in society. There is an upper class level which is mainly occupied by the wealthy in the society. They are the key owners of the means of production (Colclough and Manor 2). They control a huge percentage of the wealth of the nation and have much influence on the policy making of the nation. They are usually few in the society than the rest of the classes. The second class is the middle class. This group mainly consist of the population which are employment and have a good income but not enough for investment. They are usually the managers of the investments made by the upper class. Their main work is to ensure that the upper class continues to grow rich by ensuring that their investments are profitable. Their number is a bit larger than that of the upper class. The last group of class in the society is the lower class members. This class usually forms the majority in the society. They usually labour to get the most basic necessity of life such as food, shelter and clothing (Karagiannis, Madjd-Sadjad and Swapan 16).
Concerning the class in the United States of America, there seem to be a growing gap between the rich and the poor. The number of the rich is growing smaller while the poor have been increasing at a very high rate. The middle class has been diminishing day by day due to the low income they are earning and the high cost of living they
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