The Misunderstood Rich Of An Albanian Family Essay

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.

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

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

Income Inequality in America is a problem that’s been going on for decades, and many feel that it hardly exists, the many people that feel that way are highly uneducated, and seem to not really care about this tremendous problem that in one’s eyes really has no end in the near future, in fact it has been gradually rising and one feels that it’s just not fair. 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: 1. Upper Class, 2. Upper Middle Class, 3. Middle Class, 4. Working Class, 5. Poor.

“A Harvard businessman interviewed 5,000 Americans on how they thought wealth in the United States was distributed” (Wealth Inequality video). They assumed that the wealth was distributed a little unfairly, with the top 20% owning most of the wealth in a low but even decline into poverty. Then he asked them what they thought would be the ideal distribution of wealth, 92% of them (at least 9/10) said that they thought an “ideal” distribution had the top 20% barely distinguishable from the middle class with the bottom percent not too worse off than the bottom 20% of the middle class. The reality of how wealth in the U.S. is budgeted looks something a like this: the top 20% owning well of half of all the nation’s wealth, the middle class is now as worse off as what citizens thought the bottom 20%

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.

In the video Park Avenue: Money, Power and the American Dream I noticed a bias toward the economically poor families. This video shows one of the poorest place in New York City. It is located in South Bronx on Park Avenue. The video shows that people who were born into the poor families get the short end of the stick. It states in the video that some individuals work very hard to progress out of being in their low income situations. But the wealthy Americans show prejudice against the poor Americans. The wealthy make laws and policies that are set up by the lobbyist to make it very hard for the poor to get out of poverty. Policies are no longer benefiting poor people like they once did in the past. The greed of the wealthy makes the poor angry. Training and education classes are being slashed to help with tax cuts for the Americans who are already wealthy. The fear is if the poor will continue being able to survive in the world today. Because the wealthy is cutting a lot a government assistant programs

There is no doubt that wealth inequality in America has been escalating quickly; the portion of total income earned by the top one percent has doubled since the beginning of the 1970’s. The wealthy are the main beneficiaries

The word rich is thrown around like a rock on the lake shore. Very similar to the work love, people use it like it has no meaning. Many seem to ignore the fact that there are hundreds of different ways to become rich. Of course, some are handed the money due to deaths in a family, retirement, rich ancestry, and lots of other ways as well. In my case, that is not how it worked. But for some reason, often times, close to about five times a day, I would get called rich. I was not a kid who had all the newly released hockey gear or electronics. As a matter of fact, I did not get a cell phone until I was thirteen years old. Out of my friend group, I was the very last one to get a cell phone. Growing up playing hockey, my dad had a rule that I could not purchase a stick over the price of one hundred dollars. My dad would gladly like to be the first one to tell you, hockey sticks are not cheap. Still, I would get called rich by my friends. I had a bigger house but nothing breath taking. I had four siblings and a dog, we needed a bigger house to fit all of us. Luckily growing up, I did not take much offense to the criticism. As a matter of fact, I did not really take it as criticism when I was younger. The term never really hit deep until I reached high school. The slurs continued as I attended a public high school after graduating from a private grade and middle school. Perhaps that was why kids called me rich. Shortly after my freshman year, after I took a personal finance class, the way money worked was clearer to

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

You pointed out some quite ligament concerns that many Americans probably share. Currently, the inequality that is happening between the wealthy and the poor, as you mentioned, is continuing to widen. It is quite a concern that the presence of the middle class is almost nonexistent. That is why we need to analyze the current circumstances of our country to develop a solution before chaos erupts. That outcome is called snap break that Robert Reich discussed in his presentation. If the snap break were to happen, many of the fears that you have, along with countless other individuals, would take effect. The country would divide itself. This is an idea that you mentioned in you post regarding the situation with Black Lives Matter

Second, an important point about wealth, is the whole system which created the State/Church establishment, or the government for America, has its root in Greek history. Certainly, those empires from the Greeks and Rome started as a need to protect their own people, and we see a similar trend in the world today, with the massive amounts of refugees and illegal immigration being portrayed, but all those situations have developed because of power struggles or war on their system. Such as, Syria, Iraq, and Afghanistan having to face unstable leadership for all their people, instead they face religious, social, and a struggle for power for only one group. Same happens in developed countries like the United States, during their elections, one side

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

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