- Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?
The statistic that made the biggest impression on me is where it says that 90% of families have little to no assets, this made a bad impression on me because it highlights how big the wealth gap is because it also says that the top 1% owns about half of the country’s wealth; it shows how greedy those wealthy people are.
- What could be some of the implications of living in a society that has such huge wealth inequalities? Do you see this dynamic getting played out in everyday life in our society? How so? Example?
When living in a society with a large wealth gap you will see many social conflicts and lack of community because people are living in survival mode, so there won’t be as much social cohesion. You would see political distrust because the poorer people will see that their government is not trying to help them better their living conditions. You will see economic instability because money flow will be stagnant; you will see political instability because politicians will create and enforce policies that will favor them and their ideas. Yes, this is something you see every day, when lawmakers defund policies and programs that help lower income people or when they won’t increase minimum wage to give working class people the opportunity to make more money.
