According to the statistic provided on page 29, the wealth of the richest 1% of Americans exceeds the total wealth of the entire bottom 90%. This glaring contrast provides a truly shocking image of wealth and income concentration wherein a minuscule fraction possesses an example of wealth to which the majority could hardly aspire. Such a society showcases one that provides every economic opportunity and resource in such a heavily tilted scale that it survives the notion of the rich getting richer amid the rest lacking equal attention and pulling all strings to stay alive. The larger ramifications of this extraordinary inequality are ominous and far-reaching. It spawns social protests and rigors as those outside the capitalist realm begin feeling marginally treated and, hence, disenfranchised from the democratic state. Additionally, it compromises democratic institutions as elites and the rich impose disproportionate control on the policy realm by scuttling proposals that seek to represent the general will of the public. In quotidian life, it means various forms such as differential access to quality education and healthcare provision, limited upward mobility opportunities, and perpetuation of the cycle of poverty. For instance, a child born into low-income family settings would, regrettably, attend a poorly funded primary and secondary school. This lessens the options available for him or her and, thus, creates a poverty-generating chain. On the other hand, a child originating from a rich family’s surrounding enjoys opportune access to top schools and beyond; thus such a child is more successful. This entrenches the notion that wealth is passed down, leading to increased inequality.
