Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?
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?
The fact that the income of the bottom 90% of Americans fell by 7% while the of 1% of Americans wealth increased by nearly 600% made the biggest impression on me. This is because majority of Americans are struggling financially while the small percentage of Americans are accumulating more wealth.
The implications of living in a society that has such wealth inequalities are classification. The economic power of a few individuals makes it difficult for everyday people to afford the things they need like good healthcare, education, and housing. This also brings a increase in debt and homelessness.
