The Misunderstood Rich Of An Albanian Family Essay

“The Gospel of Wealth” was written by Andrew Carnegie in 1889. Carnegie used the essay to “argue that individual capitalists were duty bound to play a broader cultural and social role and thus improve the world,” though there were those that disagreed with him, writing their own share of essays in response and creating a lively debate (History Matters 1). Carnegie, unlike his peers, believed that it was the responsibility of the newly formed upper class, consisting of those who had made their own fortunes, to engage in acts of philanthropy. He believed that the best way to deal with the wealth inequality that resulted from their creation of their own fortunes was to redistribute their wealth in a manner that was not only responsible, but beneficial to all.

He discusses all that is wrong with the wealthy individuals and how they are spoiled. He makes his argument by revealing how wealth is disposed of, “There are but three modes in which surplus wealth can be disposed of. It can all be left to the families of the descendants; or it can be bequeathed for public purposes; or, finally, it can be administrated during their lives by its possessors” (3). The author is Andrew Carnegie and intended audience is the general public but more specifically are those of wealth and make them conscious of how surplus wealth is disposed of. This is a primary source and reveals that even though this was how the world was a decade ago, it is quite similar and not much has

The current issues of Capitalism in America is a grave concern to Americans. There is even a declared democratic socialist running for the Democrat nomination right now and garnering a lot of support. Specific issues this candidate is discussing that are facing Americans are issues of income inequality where the top .01 percent makes an average of 27 million per household whereas the bottom 90 percent makes an average of 31,000 a year, free college, and relations with harmful countries. This could all be related to the ideas of Karl Marx in the communist manifesto like a class struggle, or whom should own means of production, or relations with horrid countries.

The continuous disparity of wealth and income can cause constant economic problems within a society. Although it is not apparent all the time, there are few benefits of discrepancy itself such as individual wealth, capital, and labor. Both Smith and Carnegie have distinct beliefs about wealth that differentiate from one another, yet are similar in certain ways. Adam Smith confined all his ideas about the common man in his “Wealth of Nations”. Whereas, in the “Gospel of Wealth,” Andrew Carnegie had distinct beliefs about the effects of capitalism . All in all, economic conditions of the 21st century still date back to previous years and signify the importance of economic competition.

According to Inequality.org, “We equate wealth with ‘net worth,’ the sum total of your assets minus liabilities. Assets can include everything from an owned personal residence and cash in savings accounts to investments in stocks/bonds, real estate, and retirement accounts. Liabilities cover what a household owes: a car loan, credit card balance, student loan, mortgage, or any other bill yet to be paid. In the United States, wealth inequality runs even more pronounced than income inequality” (Wealth). Wealth disparity affects everyone in America. When the top twenty percent of earners in America take over fifty percent of total earnings in any given year, It can be see as very unfair by anyone who is in the middle class and especially the lower class of citizens in the U.S. It is safe to say that both sides of the political world (Republicans and Democrats) are equally worried about how economic inequality will affect their children and future generations. No matter who you ask, rich or poor, and whatever their opinion on the shape of economic distribution in America is, they most likely have a unrealistic sense of the state it is actually in.

It can be said that money is power in the United States, and this is brought out in the essay, “Class in America---2012” written by Gregory Mantsios. He says that even though many Americans do not like to discuss class, “it can determine where people live, who their friends are, how well they are educated, and what they do for a living” (Mantsios). Many Americans do not speak about class type, and most find it unacceptable (Mantsios). Unfortunately, we can see that there are laws that are built to help and better the wealthy, while it cripples the rest of us. According to the Economic Policy Institute, “The richest twenty percent of Americans hold nearly ninety percent of the total household wealth in this county” (Institute) Gregory Mantsios without reserve describes the majority of people are at a disadvantage in their social class, while the upper class is compensated.

Majority thinks that America is the land of opportunity, where the lower class has the ability to succeed and prosper; statistically the truth is less expectant. According to facts presently, the smallest percentage of Americans earns over $1,000,000. The next smallest percentage of Americans earn over $125,000. Meanwhile, the median income that Americans earn is $41,000. Any American can succeed with the right mind set. Facts also show that more Americans considered to be wealthy have earned it rather than inherited it. I come from a family that is considered to be working class. My parents didn’t own their first home until I was 15, and I am the youngest of four children. Hard work does pay off, and I have seen it.

We are arguably living in the aftereffects of a country that reached its heights of Capitalism during the Industrialization era. Prior to the introduction of machinery and railroad systems to America, the economical framework relied on a warped version of lasseiz-faire and featured wealthy descendants of British merchants who joined the colonies. Others worked menial jobs and apprenticeships to guarantee their source of income and it is safe to say that many were unhappy with their predicament --- even if they had no platform to voice this opinion. While the Industrialization Era introduced centuries of wealth to America, it also severely tipped the wealth distribution scale which can be seen extremely in events like the multiple depressions of the 19th Century and recessions in the 20th Century. In a 2013 statistic, researchers found that 53.5% of people despise their jobs. If you ask around, you 'll find that many overqualified Americans are still working menial jobs to provide for their families and that even office jobs are not that promising in terms of salary. The wealth cap for most of these citizens is around $60k~ and many, many Americans are living in poverty. There seems to be a socio-economical propaganda that is being spewed around for many years that many workers of minimum wage are lazy, entitled teenagers who have nothing better to do than sit around and collect

(2) There also exist opportunities for private wealth and ownership. Essentially, socialism is a less extreme version of communism. In the 2016 presidential race, the nation responded with shock and heated discourse over the candidate Bernie Sanders, an admitted democratic socialist. But this concept is not new to America, in fact it has been present since the early 20th century. We even have socialist programs existing today such as Medicare and Social Security. Those who support this ideology argue that a government of the people must provide basic necessities as well as equitable opportunities such as higher education, healthcare, and child care to its citizens. These all seem like fair and beneficial requests of citizens for their government. However, it still receives high criticisms and objections amongst Americans. That is because capitalism is considered a staple of the U.S. We value our individuality, our free market, and our opportunities for social mobility. That, after all, is the very idea of the American dream. Unfortunately, that dream is often crushed by the harsh realities of inequality, discrimination, and social class. The gap between the rich and the poor is widening rapidly, with 51.4% of income earned annually going to the richest 20% (3). The middle class is disappearing, the poor are getting poorer, and the rich are profiting. This leads many to the conclusion that a new political and economic system is the answer

Everywhere you look at the United States you can find economic stratification. From the kind of vehicle you drive, to the kind of house you live in, to the kind of restaurants you eat at the most you will find economic stratification. Some might ask, does any of that truly matter today? Yes, unfortunately, it does. An important goal for most people is what’s referred to as The American Dream. Whether it is to attend a good college, get a respectable job, purchase the perfect house, and have a small family or maybe just to start your own business; that dream starts with wealth. People with more money will have an easier time with achieving the dream than a lower income person would. With wealth comes power and prestige as well. People with more money have better life chances because they can afford better healthcare, education, healthier food, and safer neighborhoods just to name a few things.

This “middle-class nation” is struggling to support all those who live in its borders and the misconceptions about wealth are vastly overrated. Furthermore, the idea of wealth and stability is incorrect, and there is a very sharp contrast between the rich and poor in the country. As the richest twenty percent of American hold ninety percent of the total household of the total household wealth in the country, those at the bottom have managed very poorly and suffer to get through the days.

Capitalism has been the central force behind the growth of the United States’ progressive economy. Within such advanced economic system the chances of economic disparity are significantly high. In fact, over the past three decades there has being a steady increase in unequal wealth distribution among the economic classes. To sustain the current unequal wealth distribution among the classes of the American population, there are numerous factors that influence and shape this trend. For some members of the population it is alarmingly disturbing to know that recent statistics have shown that, “In the US [alone] the wealthiest 1% of its population owns more than the bottom 95 %” (Gutman). As for the difference in economic wealth, it resulted

I always believed that you are considered wealthy when you make a high income. According to the authors, most high income earners are not rich, which surprised me. Most people with high incomes fail to accumulate any lasting wealth. They live hyper-consumer lifestyles, they spend their money as fast as they earn it. I always perceived millionaires as living the lavish life with their big sport utility vehicles and huge mansions. Well I was wrong, in

There are many inequalities prevalent in the US, and as a capitalist society, one of the most common is economic inequality. The Equality Trust defines economic inequality, as the gap between the well off and less well of in regards to overall economic distribution (“How Is”). See, our capitalist society strongly benefits those with a capitalist mentality and can afford the means to invest/own capital. Over the years there has been an increasing wealth gap between the top one percent earners and the general population. So why are the rich flourishing while the poor are struggling in this capitalist environment? The policy decisions of our country allow this inequality to permeate throughout our industries, thus creating a culture of power and greed. One result of this culture is the explosion of high salaries in the US and Emmanuel Saez explains this trend in Striking it Richer. Saez affirms, “Indeed, estimates based purely on wages and salaries show that the share of total wage and salaries earned by the top 1 percent wage income earners has jumped from 5.1 percent in 1970 to 12.0 percent in 2006” (Grusky 89). Too bad that the 99 percent of America missed out on this massive economic growth spurt. When economic growth is not evenly distributed among the general population, people tend to question our entire system. This has been an increasingly controversial issue, where corporate America is responsible for the constant exploitation of low-level employees. Through my

​ Without a doubt, those who are “rich” and those that are “poor,” in terms of material possession, share a similarity: the desire to be rich or richer.  No one really wants to be “poor.”  Those who are rich are rich through inheritance or have mastered the know-how to become rich. Such as Prince Williams, who obtained his wealth from his mother and father, Princess Diana and Prince Charles of Whales.