1. I found it interesting is that no matter how hard you work throughout your lifetime you won’t become rich because as stated “If you aren’t rich, it is because you lacked the foresight to pick the right parents at birth”  The rich are usually wealthy because on inherited fortunes. Usually, the class your parents are in is most likely where you would stay. I believe there are people that have worked hard to at least move a bit upward. But, there is less upward social mobility today than a generation ago.
  2. Some implications of living in a society that has huge wealth inequalities could result in higher rates of health and social problems because it reduces social cohesion which can lead to more stress, fear, and insecurity for everyone. In addition, lower level of economic growth when human capital is neglected for high-end consumption.

One thought on “Discussion 5.3-Jasmin Amigon

  1. Hi, Jasmine!

    1. I find that wealth is not always about how smart or hardworking you were, but also your circumstances. Inheriting a multi-million or billion dollar business always helps. To be fair though you’re not a guaranteed success just because your parents were. There are some very smart owners of wealth. And they get paid more because at the end of the day, if things go wrong they are responsible for finding a solution. We all know though that they didn’t get there all by their self. It’s the laborers who put in the heavy lifting day to day for their dream to come true.

    2. Well said. Disproportionate financial circumstances leads to disproportionate problems.

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