United States of Inequality

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Recommended: Compare and contrast between capitalism and socialism

Capitalism has been the central force behind the growth of the United States’ progressive economy. Within such advanced economic system the chances of economic disparity are significantly high. In fact, over the past three decades there has being a steady increase in unequal wealth distribution among the economic classes. To sustain the current unequal wealth distribution among the classes of the American population, there are numerous factors that influence and shape this trend. For some members of the population it is alarmingly disturbing to know that recent statistics have shown that, “In the US [alone] the wealthiest 1% of its population owns more than the bottom 95 %” (Gutman). As for the difference in economic wealth, it resulted from the defects of capitalism supported by the capitalist economic system that has a high tendency to reward individuals or groups of people who have much capital. Although the American economic system guarantees equality of opportunity for all and is relatively the best economic system to be devised, capitalism enables the wealthiest of the wealthy to disproportionately gain more control of economic capital and increasingly move above and beyond the average standards of living. Therefore, in actuality capitalism does not ensure equality of opportunity for all and would be ideal for the wealth members of society.

Despite the unwavering economic disparity caused by the flaws of capitalism and other dooming views of capitalism, nevertheless it allows:

Businesses [to] organize economic resources to produce goods and/or serviced. The entrepreneurs [can] continuously [form] and [establish new innovations] to discover new and better ways to [efficiently] use resources (Public Affairs Department, Feder...

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...ogle. Web. 23 Apr. 2011. .

Moberg, David. To Achieve Economic Equality, American Workers Need Unions. N.p., 6 Mar. 2007. Google. Web. 25 Apr. 2011. .

Moore, Michael, dir. Capitalism: A Love Story. Narr. Michael Moore. 2009. Overture Films, 2009. 1st ed. DVD-ROM.

Niskanen, William A., and Stephen Moore. Policy Analysis. Cato Institute Policy Analysis, 22 Oct. 1996. Google. Web. 23 Apr. 2011. .

Pendleton, Michael S. Personal interview. 28 Apr. 2011.

Public Affairs Department, Federal Reserve Bank. Everyday Economics. N.p., n.d. Google. Web. 23 Apr. 2011. .

Western Culture Global. N.p., 2009. Google. Web. 22 Apr. 2011.

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