Sunday, April 17, 2005

Income gap

When people think of America, they think of the “American Dream.” America was always considered the place where normal poor or middle-class people could make themselves extraordinarily rich. Growing up we are taught that any thing is possible in America, as long as you are dedicated and willing to work for the success you desire. Is this dream still alive? The dramatic widening of the income gap between rich and poor has long been atop many economists and policymakers heads. One article I found revealed that “the top 1 percent of American families… now own as much as the bottom 95 percent combined.” This is the highest income gap among developed nations. There is no doubt that possibilities still exist to transform oneself from poor to rich, yet it seems as though these possibilities are becoming less frequent. The magnitude and trends of income inequality throughout the developed capitalist world remind me of Marx’s writings. The capitalist class is becoming less numerous but super rich while the proletariat class is growing larger. What does Marx see as the necessary outcome of such a struggle? Do you agree that we are headed for this outcome? Or, does income inequality not necessarily lead to resentment among the working class?

http://money.cnn.com/2005/04/07/pf/getrich_0505/index.htm?cnn=yes

1 comment:

chenna said...

I just want to know if the person who wrote this question ever had a job before. Marxism is usually supported by the underpriviledged, ivory tower academics, and, of course, students. In the real world, Adam Smith's conclusion that the nature of man is hedonistic stands true. I would like for someone to give a true example of Marxism at work in a country today. You just can't find it. It's an ideal, and that's all it is. Income disparity leads to resentment, yes. However that resentment can be useful in many ways, and is not always negative.