American Capitalism And The Economic System

In other words, America has a widening gap between its wealthy and poor. As the rich get richer and the poor get poorer, there is a problem emerging: the disappearance of the middle class. Low-wage workers continue to fall behind those who make higher wages, and this only widens the gap between the two. There has been an economic boom in the United States, which has made the country more prosperous than it has ever been. That prosperity does not reach all people; it seems to only favor the rich. Rising economic segregation has taken away many opportunities for the poor to rise in America today. The poor may find that the economic boom has increased their income; however, as their income increase so does the prices they must for their living expenses (Dreier, Mollenkopf, & Swanstrom 19).

The view that the rich get richer and the poor get poorer has been heard repeatedly in reference to America’s income inequality. Though ironic, it comes as no surprise that America, a continent that easily trumps other countries in terms of wealth would be affected by the issue of poverty at such high levels. While much has said regarding the poverty levels, many economists, educators and scholars feel that the income inequality in America may be the reason why it is difficult to live and maintain a middle class lifestyle or to rise out of poverty into the middle class in the current economic state. With this in mind, the only way America, has a chance of lessening or eliminating poverty altogether is by understanding how it exists.

Income Inequality is a major problem that has been going on in America for decades. Many people feel that it barely exists today, but those people are very uneducated and don’t really care about the huge problem in front of them the many people that feel that way are highly uneducated, and seem to not really care about which has been gradually increasing instead of decreasing. Unfortunately, there’s not much that can be done, only of course if the poor class of people decide to actually educate themselves and get a higher education. One says poor class, simply because that’s how they’re classified. There are five types of levels that Americans are classified as, and they are: Upper Class, Upper Middle Class, Middle Class, Working Class, Poor. The highest percentage of Americans fall in the Poor department, and it has been that way for decades, and will continue to be that way for decades to come.

There is a large gap between the rich and the poor. A very small percentage of Americans hold more wealth than a very large percentage of Americans who are at the bottom of the economic ladder. The wealth distribution does not allow for a great country because there is such inequality and thus a lack of unity among the people. The exact opposite of Paine's view of 1791 is happening. He claimed that "the poor are not oppressed, the rich are not privileged", but the poor in America face daily oppression and the rich get a plethora of privileges. Many poor immigrants are treated as second class citizens, forced to take the jobs that others don't want. They often don't have enough money to live comfortably. There are "food deserts" in America where fresh food is very expensive, and these food deserts tend to be in the areas that citizens with lower economic status reside. They do not have access to nutritious foods, and that is a form of oppression. However, the wealthy tend to have more access to fresh food. They also typically have superior education, which leads to improved job opportunities. Most members of Congress have wealthy backgrounds, as do most presidents. Presidential and Congressional campaigns are so expensive in 2016, and it is practically impossible to afford to campaign if you are not rich. This oppresses the voices of the poor in government, which is supposed to represent all of the people. Paine's statement in Rights of Man is incorrect; the rich experience privileges while the poor face

Throughout the 19th and 20th century capitalism was on a rise and many writers had different perspectives on the positives and negatives of capitalism and how it shaped America. Thomas DiLorenzo who wrote How Capitalism Enriched the Working Class, focused on how the world became better because of capitalism. Melvyn Dubofsky’s Industrialism and the American Worker, focused on how the lives of working people were deteriorated because of the development of labor and what conditions these people faced. Douglas Blackmon’s Slavery by Another Name, provided evidence that slavery did not end along with the Civil War and that African-Americans continued to be enslaved and exploited under the system. DiLorenzo agrees that capitalism helped improve wages and workers in America, but Blackmon and Dubofksy show evidence of other arguments that prove to us that capitalism was not a positive impact.

The United States wealth inequality gap is one of the largest gaps in the world. According to the article Causes of Poverty by Anup Shah, “ Almost

The United States is one of the richest and most abundant nations in the world. It is ironic that such high levels of poverty and income equality still continues in such a prosperous nation. Poverty exists due to the economic system that is constructed to allow the increase of wealth on one side and conditions of scarceness that make poverty unavoidable on the other.

Many reforms in the UnitedStates have been passed to help fight against the “War on Poverty”; but it has not been effective in eradicating poverty in the U.S. There are about 46 million people who are living in impoverished conditions and poverty continues to be a social issue in this country (Heritage Foundation, 2011) In the beginning, our country was formed under the belief that “this land is the land of opportunity and if we worked hard enough the American Dream can be gained” (Schwarz, 1997). People immigrate to this country today in hopes of becoming rich so they could gain a better life. In spite of coming to this country for a better life, many are faced with the lack of skills and money to succeed. In the end, most will end

Income inequality in America has been a major issue for years. We can see the uneven distribution by comparing one of the world’s wealthiest man in Bill Gates to the average person. He has made over 50 billion dollars in his lifetime. Comparing him to the average person who makes 37 thousand dollars a year. Although, unemployment rate has decreased in the U.S, the gap between rich and poor in this country has dramatically increased. There are many contributions to the gap, such as different education levels among citizens, living conditions, taxes, difference between salaries, and more. Income inequality in the U.S needs to be addressed. This horrible problem in our country

As Peter Edelman writes in “The State of Poverty in America,” in the United States, 20.5 million individuals of the population are in poverty, including 6 million with no income (1). Numerous poor individuals are in desperate need of essential opportunities. In contrast, the rich in the United States are moving up and becoming successful in their livelihood. The differences in the opportunities given to the rich and taken from the poor are ongoing. Opportunities include difficulties in achieving proper education, medicine, and/or jobs.

Even though having the “poor class” is a necessary evil needed for society to function, most Americans, at some point in time, will experience what it is like to live in poverty or live below the poverty line. One main reason for having a high percentage of people living in poverty is because the U.S. policy makers have ignored the poor and have given tax breaks to those with a much higher income. Funding for welfare was slashed and extended unemployment benefits were ended. With little success with the economic reform the United States has been going through for the past five years, about 14.5 percent of Americans are still living under the poverty line.

The virtues of capitalism have been skewed and broken from the true core values in American society. The perspective that in a capitalistic society

Capitalism can be defined as a political and economic system where private owners control industries and trades to make profit. Capitalism leads to economic growth because it is efficient. Capital businesses have incentives to be efficient and produce goods in high demand for the public. These incentives end up cutting costs for consumers. State owned businesses are not as efficient, keeping surplus workers and having fewer incentives for innovation. When businesses work harder to be innovative, it catalyzes economic expansion. Economic expansion increases GDP and, in theory, is supposed to improve living standards. In capitalism, the market determines prices rather than the government, which leads to economic growth. Private property rights allow for anyone to produce items and services to sell in the market. Capitalism allows for economic growth because fast growing economies produce more jobs and more wealth. Capitalism envourages

American Capitalism Capitalism - "An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state." America was an ideal breeding ground for capitalism, a relatively new country, in need of young entrepreneurs to kick start it's already buoyant economy. The country was an ideal place to get rich quick, an idea that inspired the immigrants that poured into it each year. In America it seemed you could turn your rags to riches in no time at all.

Concept of capitalism can be difficult to understand. It is commonly identified by economist and political philosophers as a system in which the means of production are privately owned and operated in the free market in exchange for a profit (Galbraith, 1952). The economical/social system determines the structure of production, the allocation of inputs and outputs, and consumption of goods. Capitalism remains popular in America because it values freedom, much like the people in our country. This is true because it allows individuals to set their own plans and pursue their own goals; in addition, one can decide what career they would enjoy most, thus creating an incentive and reward for achieving ones ambitions. In a free market, everyone