The Grinding Gears Of A Dysfunctional Economy

2338 Words Apr 8th, 2015 10 Pages
Springfield Technical Community College

The Grinding Gears of a Dysfunctional Economy
America 's Growing Income Inequality

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Nicolas Kruzel
Sociology
Professor Stewart
8 April 2015
Nicolas Kruzel
Professor Stewart
Sociology
9 April 2015
The Grinding Gears of a Dysfunctional Economy The economy is like a watch, each gear grinds together in order to allow the hands to rotate flawlessly. What happens if one of those gears may get stuck? Starting in the early 1970s, middle and working class wages in America stagnated. From the 1970s to today, the average hourly wage "has only risen 9 percent" (Saez) while the dollar has inflated approximately five-hundred and five percent (US Inflation Calculator). These wages have continued to stagnate as the top twenty-percent wealthiest Americans have had their wages quadrupled since the 1980s (Inequality.org). This disproportionate growth of wealth in society 's elite classes have left the economy in freefall. Wealth is distributed to everyone in America, no matter what job you perform. It is a common understanding that as a fast food worker you will earn a low minimum dollar wage and a Chief Executive Officer will earn in the millions annually. The United States of America is a capitalistic society, where everyone is out to make profit. Wage inequality is a great thing, it offers an incentive for poor and middle class families to work hard to rise through the ranks of the social ladder and into the bracket of wage earners.…

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