Essay on America 's Economy Is Dependent On The Middle Class

Essay on America 's Economy Is Dependent On The Middle Class

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America 's economy is dependent on the middle class. Slowly, the middle class is beginning to decrease. Soon enough there will be only the wealthy and the poor. Economic inequality is the gap between the upper class and the lower class. It is a problem that is growing everyday. Technology, education, race, gender, and globalization are the main causes of economic inequality. Each one of these causes contributes to the vicious cycle of economic inequality. The battle for our country 's financial wellbeing is upon us.
One of the major causes leading to economic inequality is the growth of technology. Over the past twenty-five years, technology has made improvements in productivity and has played a huge role in the life of everyday society (Dabla-Norris 18). The growth in technology is pushing out the need of unskilled laborers in the workforce. Machinery and computers are replacing the jobs once held by unskilled workers. In turn, this is causing a great rise in the unemployment rate of America. Technological advances have been shown in studies to contribute to about one-third of the gap between the richest ten percent of the United States and the rest of the nation (Dabla-Norris 19). Many of these jobs require skilled labor to operate some of this technology. The lack of skilled workers is making it harder for companies to find people to operate new machinery. For many companies, it makes more sense to lay-off the unskilled instead of training them on certain jobs. Companies may post jobs, but few people can fill the requirements.
The rise of technology has proven that a need for skilled workers is great. When companies want to hire employees, the first thing they look for on an application is how much education does the app...

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...e case. Outsourcing has also hurt the jobs that were once located inside our border. For companies that offer services like customer assistance and technical support, much of this work is being given to people in other countries around the world, like India. Because it is cheaper to pay workers there, it means that many are being laid off here. These unemployed quickly plummet into poverty, and who were once the middle class, become increasingly lower class.
Overall, it is clear to see that the rate of economic inequality is rapidly increasing. Because of the many causes, whether it be technology, education, gender, race, or even globalization, the effect of economic inequality has firmly established itself in our society. In order to end the vicious cycle, we must try to work to find solutions to ultimately help not only ourselves but the many generations to come.

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