1<\/p>\n\n\n\n
<\/p>\n\n\n\n
Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why? <\/p>\n\n\n\n
I knew that Statistic before, it wasn’t surprising, the top 1% of the population is a millionaire, However, I did not know that they own between 40% and 50% of the nation\u2019s total wealth, that such a small percentage of the population could own such a large portion of the nation\u2019s wealth. I find this incredible, especially when thinking about the economic inequality it creates. It also makes me think about how our capitalist system has influenced the way our laws and society are managed. Sometimes it feels as if money has more influence over our laws and decisions than ethics and values. As someone who is part of the working class, I find that especially concerning because this level of economic inequality can affect the opportunities and power that people have in society.<\/p>\n\n\n\n
2<\/p>\n\n\n\n
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?<\/p>\n\n\n\n
I think some of the implications of living in a society with such huge wealth inequality are that we can become dependent on millionaires and big companies. If one of their companies closes or decides to lay off workers, many people can lose their jobs, which can have a very negative impact on their lives, but not on the life of a billionaire or millionaire. This shows how much power a small group of people can have.<\/p>\n\n\n\n
I do see it in articles or yeah in everyday life. For example, I sometimes see news about companies laying off 150 or even thousands of people. I also see situations where politicians have to make decisions in favor of wealthy individuals so they don’t have to pay as much in taxes. This makes me think about how economic power can influence political decisions.<\/p>\n\n\n\n
Another example that comes to my mind is the way natural resources are used in poorer countries. Some countries have valuable resources such as oil, gold… minerals, and other natural resources, but the people living there still poor. Large companies can sometimes gain access to these resources at very low costs and then sell the products for much higher prices. In my home country, Colombia, we have laws that give free pass to Canadian companies to extract our natural resources in the Amazon Rainforest, or to Chinese companies in Choc\u00f3 to mine gold. One time, these companies they even charged us because a group of terrorists stole from them while they were working on it, so they charge us because we didn’t protect their safety ! that’s crazy! Anyway, wealth inequality can create a situation where people and countries become economically dependent on those who have more wealth and power.<\/p>\n\n\n\n
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