Increased Wealth Inequality in United States

This article states that there is an increasing inequality of income between the rich and the poor. The article points out that those more educated groups are experiencing a larger inequality of income compared to less educated groups. The article states, “Furthermore, more-educated groups show greater income inequality than less-educated groups. Uneducated people are more likely to be clustered in a tight range of relatively low incomes.” This makes sense because people who have a higher education are more likely to make more money; however, the scarcity of jobs is creating a shortage of available jobs and increasing the amount of unemployment. Therefore, this creates lower wages for the more educated people because the job market is very competitive and many well educated people have trouble finding a well paying job.

Another factor contributing to the increased wealth inequality is that the United States is growing older and becoming increasingly smarter. This creates a larger spectrum of wages because the smarter entrepreneurs are making much more money than the less intelligent entrepreneurs, contributing to the wealth inequalities between the rich and poor.

Although there is wealth inequality, is it such a bad thing? The article also goes on to state that the less educated are also experiencing more times of leisure in comparison to the higher educated. This suggests that the higher educated people are working harder for their money and therefore, enjoy less time at their leisure.

So, after reviewing all of these factors, what is your opinion on wealth inequality? Is it necessarily bad? Can people do anything about it?