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Plight Of Wealth

Decent Essays
The Plight of the Wealthy
Income inequality in the United States has developed since the nineteenth century and the industrial age. Historically the Rockefellers, Carnegies, and Mellons of the industrial age were the individuals that understood that wealth was capable of transforming anyone’s life if society provided the window of opportunity. For those men the industrial age brought significant social change that forever changed the landscape of the American work force, and began a surge of possibilities in the nation that continues today. Through the past the wealthy were capable of discovering how the developments in the labor market, and the changing make-up of households could develop into millions of dollars if one knew what the working
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During the Reagan administration people began to believe that it was not necessary to completely depend on industry for their wages. Therefore, millions of Americans began to start their own businesses, and many of them prospered significantly because of the inclusion of computers, and advanced technology that was beginning to become an integral part of society. Just like the entrepreneurs of the nineteenth century who understood that industry was the “new” frontier in the American landscape, the independent business owners in the 1980s were beginning to visualize just how significant inventions like the Internet, and computers were within society. Therefore, many individuals jumped into business for themselves, and have been becoming more successful with each passing year. In other words, the struggling worker of thirty years ago took a chance when the opportunity presented itself, and it has been paying off ever since. Robert Frank discusses the fact that in the modern age the gap between rich and poor in the United States is steadily rising. Frank stated,
The most salient feature of this boom is neither
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During nineteenth century America there was an industrial boom that some individuals found advantageous, and their investments in industry led them to become the twentieth century’s millionaires. Yet, during the latter part of the twentieth century, when the economy was suffering, workers took a chance in purchasing stocks that have paid off many times over. In addition, companies that were once regulated for business in the United States have now begun to expand with globalization, increasing profits, and benefiting the wealthy even
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