Socio Economic Differences Of The Economic System Of Modern Capitalism

1678 WordsDec 3, 20147 Pages
Socio-economic differences are factors that seem to be inherent in the economic system of modern capitalism that is utilized by the United States today. These wide differences may seem to be necessary, however that may not be the case. This piece of “common knowledge” needs to be eradicated from the American subconscious and a widespread paradigm shift is necessary if we are to improve ourselves as a nation socially, culturally, and economically. In Allison Aubrey’s article; “Fast-Food CEOs Earn Supersize Salaries; Workers Earn Small Potatoes,” Aubrey shows just how large the income gap is between the rich and the poor through numbers, “ the fast food industry … with a CEO-to-worker pay ratio now exceeding 1000 to 1” (CEOs). This pay ratio gap is proof of the massive issue we have as a nation of pay inequality, supporting the statement that the class equality differences are unnecessarily large and that the difference must be shrunken or at least improved. I say that to correct the major differences in equality among the nation we need to look beyond the wages of CEOs in certain industries, we need to improve the cultural and societal image of the working class, reduce federal accommodations for the rich, whether they are intentional or not, and increase the educational levels of those in poverty and those at the lower levels of society. The new generation, moving into jobs and into economically significant positions around the country should consider how these changes and
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