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Analyzing the american dream
Inequality of income
United states wealth inequality
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In our society there is a concept referred to as the "American Dream." It is the idea that all people have a chance to earn a large amount of wealth and live comfortable lives. According to common wisdom everyone has an equal chance to succeed in our society. However according to the research of Max Weber, Societies tend to stratify into classes; the most powerful of which is also the smallest. (Henslin 2009 p176) Social mobility is very limited and the rich tend to stay rich and the poor tend to stay poor. "In large, industrialized societies, there are a very few people at the top of the stratification system,and a large majority of people who don’t get the opportunity to share in the incredible wealth that they hold." (Culwell, lecture week 5)We create myths to keep those who are less fortunate from rising up in rebellion and those who are at the top have numerous mechanisms to keep those who are moving upward from gaining too much wealth. The social stratification in the U.S. is present and needs to be altered to provide a more egalitarian stratification for all citizens.
The current stratification of wealth in the United States is a not ignorable. The wealthiest one percent of people in our nation hold such a vast amount of wealth that they control three percent more than the bottom ninety percent of people. (Henslin, 2009 p199) The fact that people are working forty hour weeks and are barely making ends meet while the ultra-rich like John Castle can say, “I don't want to know how much anything cost. When you have got enough money, price doesn't make a difference,” is morally unacceptable. (Henslin 2009 p202). Currently or poverty level is 13% (Henslin 2009 p215), this means that, out of ten randomly selected citizens ...
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...200) While the nationalization of the banking industry will not directly solve the stratification of society, as the rich and poor are separated by more than property, it will help provide upward mobility for the lower classes (and downward mobility for the upper classes). If the banks are nationalized bankers will have an incentive to help the poor and it will likely become a public service job. There will be, of course, potential for the nationalization of the banking industry to have adverse effects. One such effect would be corruption within the bank and political sphere; leading to favoritism in lending or the falsification of documents to further the political goals of a corrupt group. While there is potential for the abuse of power, the nationalization of the banking industry will provide the public with a greater chance at the equalization of social groups.
Paul Krugman, in his article “The Death of Horatio Alger” suggests that social mobility among classes in the United States is becoming more difficult by the day. Krugman explains that the idea of the American Dream and moving from class to class was once semi easily attainable; but is now seemingly impossible. Although America is thought of as a classless society, the country has a whole is moving into a caste society run by the rich.
Growing up in The United States, people are given this idea of an American Dream. Almost every child is raised to believe they can become and do anything they want to do, if one works hard enough. However, a majority of people believe that there is a separation of class in American society. Gregory Mantsios author of “Class in America-2009” believes that Americans do not exchange thoughts about class division, although most of people are placed in their own set cluster of wealth. Also political officials are trying to get followers by trying to try to appeal to the bulk of the population, or the middle class, in order to get more supporters. An interesting myth that Mantsios makes in his essay is how Americans don’t have equal opportunities.
With each class comes a certain level in financial standing, the lower class having the lowest income and the upper class having the highest income. According to Mantsios’ “Class in America” the wealthiest one percent of the American population hold thirty-four percent of the total national wealth and while this is going on nearly thirty-seven million Americans across the nation live in unrelenting poverty (Mantsios 284-6). There is a clear difference in the way that these two groups of people live, one is extreme poverty and the other extremely
The phrase “The American Dream” is an incredible thing. The promise of that dream has convinced hundreds of millions of people that, as a citizen of this country, you can accomplish anything if you work hard enough. Whether you want to be a doctor, athlete, or even a president, those things should all be within your reach, regardless of your class or race! America is the nation where dreams can come true. Unfortunately, for a large number of people that believe this, this is a concept that does not apply to them. Many Americans find opportunities are denied to them because of their race. Others can be found living in poverty and far from anything that would be considered desirable. Statistics show that the wealthiest 1 percent of Americans earned 9 percent of all U.S. income in 1979. Did you know that the same 1 percent earns 24 percent of all U.S. income today? That is a staggering example of the income inequality in America. The American Dream is that if you work hard and have the ability you will succeed, but that has become an impossibility for millions of disadvantaged Americans because the income inequality has been steadily increasing since the 1970s and racism and poverty are constant barriers to their success and financial security.
The highest earning fifth of U.S. families earned 59.1% of all income, while the richest earned 88.9% of all wealth. A big gap between the rich and poor is often associated with low social mobility, which contradicts the American ideal of equal opportunity. Levels of income inequality are higher than they have been in almost a century, the top one percent has a share of the national income of over 20 percent (Wilhelm). There are a variety of factors that influence income inequality, a few of which will be discussed in this paper. Rising income inequality is caused by differences in life expectancy, rapidly increases in the incomes of the top 5 percent, social trends, and shifts in the global economy.
Inside of this video, this guy really targets an issue nobody has really been presented. He shows charts that talk about how we Americans think our wealth is distributed. We think distribution is doing alright. Americans think that the bottom 40% is getting a bit of money. They also believe that the middle class is doing reasonably well. Unfortunately, that is not the case. In the video, he breaks it down a little bit getter. He shows a graph that shows how money is actually being distributed. The poorest of poor don 't even register on the poverty line. The middle class is barely making it. And then there is this huge difference between "the rich" and the poor. It is proven that the 1% of America has 40% of the entire nation 's wealth ("Wealth Inequality in America."). The bottom 80% of America only share 7% of the nation 's wealth among themselves. The top 1% has 50% of the stocks, bonds, and mutual funds. The bottom 50% of Americans only own 0.5% ("Wealth Inequality in America."). The poor is not just getting by but they are scraping and fighting to get by. Now that it is clear that there is a lot of poor people in America, it is important to figure out how to fix
One would expect that social equality would just be the norm in society today. Unfortunately, that is not the case. Three similar stories of how inequality and the hard reality of how America’s society and workforce is ran shows a bigger picture of the problems American’s have trying to make an honest living in today’s world. When someone thinks about the American dream, is this the way they pictured it? Is this what was envisioned for American’s when thinking about what the future held? The three authors in these articles don’t believe so, and they are pretty sure American’s didn’t either. Bob Herbert in his article “Hiding from Reality” probably makes the most honest and correct statement, “We’re in denial about the extent of the rot in the system, and the effort that would be required to turn things around” (564).
America has always seen as the symbolic ideal country of prosperity and equality. This is the reason why people come to America hoping to become successful, but in matter of fact we all have an equal plan field to be successful is not entirely true. For there are social boundaries that keep use limited based upon our own status. Whether we are born of a low class or of a high class the possibility of economic mobility in a sense are predetermined by two factors of social class and success together they both affecting one’s another opportunity of success. In order to achieve success, we must know that it is made up of two main concepts and they are fortune and position. But when a person is limited by their class prohibiting them to achieve success, the point of trying is meaningless. However, there is a way to break the construct that keep groups stuck in the lower-class and is through education. Education gives more opportunities for success to the individuals and since education is very important, culture and the government should focus more directly upon this to reach economic stability. Class standing directly affects economic success in America by limiting a person’s chance of success however; one can overcome by focusing more upon education and culture.
I do not agree with this concept. Many people do not end up being on the same area of the social class ladder as their family is or once was. I believe that social mobility is the main reason as to why the American Dream is no longer available as it once was. There are three different types of social mobility: intergenerational mobility, structural mobility, and exchange mobility. Intergenerational mobility is defined as "the change that family members making in social class from one generation to the next" (Henslin, 237). An example of this would be if a child ended up being part of a different social class than that of their parent 's. Structural mobility is "the movement up of down the social class ladder that is due more to changes in the structure of society than to the actions of individuals" (Henslin, 237). Simply put, structural mobility means that even if an individual is hard working and very intelligent, they still may not end up moving up on the social class ladder. Structural mobility is a huge reason as to why the American Dream is not achievable for all Americans
The United States has a long, brutal history of social inequality, including but not limited to: racism, sexism, and classism dating all the way back to the European colonizers. When we look at America’s past, we start to notice horrendous instances of injustice and the early formations of modern day social stratification. A way to describe social stratification is “the creation of layers of a population who possess an unequal share of scarce resources” (Loder 2015). Since the resources are not equally distributed, there are some people who have a copious amount of resources and others who barely have enough to survive. Thus rendering social stratification as problematic, because it allows little room for those who were assigned to a lower
Income inequality has affected American citizens ever since the American Dream came to existence. The American Dream is centered around the concept of working hard and earning enough money to support a family, own a home, send children to college, and invest for retirement. Economic gains in income are one of the only possible ways to achieve enough wealth to fulfill the dream. Unfortunately, many people cannot achieve this dream due to low income. Income inequality refers to the uneven distribution of income and wealth between the social classes of American citizens. The United States has often experienced a rise in inequality as the rich become richer and the poor become poorer, increasing the unstable gap between the two classes. The income gap in America has been increasing steadily since the late 1970’s, and has now reached historic highs not seen since the 1920’s (Desilver). UC Berkeley economics professor, Emmanuel Saez conducted extensive research on past and present income inequality statistics and published them in his report “Striking it Richer.” Saez claims that changes in technology, tax policies, labor unions, corporate benefits, and social norms have caused income inequality. He stands to advocate a change in American economic policies that will help close this inequality gap and considers institutional and tax reforms that should be developed to counter it. Although Saez’s provides legitimate causes of income inequality, I highly disagree with the thought of making changes to end income inequality. In any diverse economic environment, income inequality will exist due to the rise of some economically successful people and the further development of factors that push people into poverty. I believe income inequality e...
The “American Dream” consists of all U.S citizens having the opportunity to obtain success and prosperity through hard work and determination, but, in a capitalistic economy such as the United States the “American Dream” is merely impossible. Low wages are masked as starting points, taught to eventually pay off in the form of small raises or promotions. Competition to obtain unequally shared resources, is used to define an individual’s extent of initiative. In reality, these are all concepts used by the wealthy to deter the poor working class from obtaining upward mobility. Middle class America, the key factor in helping the wealthy stay wealthy, have adapted to these beliefs and concepts, created to keep them far behind. Conflict theorist
The "American Dream" supposedly allows everyone to climb the "social/economic ladder," if they wish to do so. Anyone that works hard is supposed to be able to move to a higher class. However, society often prevents social mobility. Social classes dictate who moves to a higher class and who does not. In the late eighteenth and early nineteenth centuries, this issue was especially prevalent.
Throughout United States history, power of the upper class has been maintained by assigning “different” people a lower, less desirable, place in society, predisposing them to social inequalities. Social stratification creates a system of social classes in which people born into a specific class have different “life chances” (Macionis 28). These classes are somewhat maintained by the fact that people tend to “take care of their own,” meaning that members of the upper class generally favor other members of the upper class and offer opportunities for advancement in society to those they feel most similar to (Doran). People from lower socioeconomic classes generally experience less life opportunity, have increased poverty and therefore have increased health issues, increased crime, decreased education, and decreased job opportunities (Macionis 38-39) These people are also often politically alienated, and therefore also lack the appropriate government influences to change their current status (Macionis 39).
Income inequality continues to increase in today’s world, especially in the United States. Income inequality means the unequal distribution between individuals’ assets, wealth, or income. In the Twilight of the Elites, Christopher Hayes, a liberal journalist, states the inequality gap between the rich and the poor are increasing widening, and there need to have things done - tax the rich, provide better education - in order to shortening the inequality gap. America is a meritocratic country, which means that everybody has equal opportunity to be successful regardless of their class privileges or wealth. However, equality of opportunity does not equal equality of outcomes. People are having more opportunities to find a better job, but their incomes are a lot less compared to the top ten percent rich people. In this way, the poor people will never climb up the ladder to high status and become millionaires. Therefore, the government needs to increase all the tax rates on rich people in order to reduce income inequality.