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Inequality for All

Autor:   •  February 5, 2019  •  742 Words (3 Pages)  •  6 Views

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the amount of money being spent in the economy dropped. The middle class takes the blow with this phenomenon, with less jobs available and flat wages. So how have the middle class managed to keep up? Starting at the beginning of “The Great Recession,” the late 1970’s, middle-class women started working. This was a result of change in social norms, but also because it was becoming more and more necessary to have two sources of incomes in a family instead of one. Following that, during the 1990’s, middle-class men and women began to work longer hours, and even pick up more than one job – sometimes two or three jobs. From there, borrowing was the only thing left to do. This started in the late 1990’s, and after ten years or so contributed to the crash of 2008.

If we look at the higher amounts of money in the bank accounts of the one percent, we can’t immediately say that the loss of middle-class jobs is a cause of their hoarding and deregulation. We also need to take into account Globalization. Globalization allows one to freely negotiate the world’s markets to find the cheapest aspects of any products and exploit them. This method works well for the people who run a company, as their returns continue to grow, but the middle class once again take the blow as all of the jobs that would typically be associated with successful business are outsourced to the place where it is the cheapest.

The rise of the inequality gap doesn’t have only economic ramifications, but also political ones. Studies show that the more unequal a population is, the more polarized the population becomes. This means that one could say the economic, as well as political issues that we are having right now are a result of the continued rise of the inequality gap.

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