- Wealth Inequality Statistic
The income distribution graphic is shocking. It says that only 1% of the wealthy people in the US have more material wealth than the remaining 90% of the nation’s population. This is made possible by the capitalist model, where owners of the factors of production benefit much more from the surplus value than the workers who earn meager wages and salaries that do not even reflect the value of what they produce.
2. Implications of Wealth Inequality
Inequality increases wealth disparity, thereby leading to several social impacts. It leads to what can be described currently as the prosperity of the affluent and the suffering of the poor and needy. Thus, inequality seems like a normalized aspect of life by presenting it in issues we face today, such as skyrocketing housing prices, people unable to afford medical care, and education being unavailable to you if you are not wealthy enough to attain it(Parenti, n.d.). The accumulation of wealth into a few hands maintains a class system in society and exposes workers to uncertainty.
