- Which statistic on wealth inequality in the US (discussed on p. 29) made the biggest impression on you? Explain why?
- While reading M. Parenti, “Democracy for the Few” (Cengage, 2008), p. 29, the wealth inequality statistic that had the biggest impression on me was that “90 percent of American families have little or no net assets”. Even though this is not shocking to me growing up low-income, I think since I grew up low income and with no asset’s I thought it was attainable for most people in the US.
2. 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?
- Some implications from living in a society carrying huge wealth inequalities are that capitalists control and exploit communities by creating scarcity in the job market. Another implication is that working class individuals below the poverty line are forced to have multiple jobs or work insane hours at low pay because capitalists are hoarding wealth. This dynamic is played out everyday in society and I have seen this dynamic more than once in the workforce. An example of this would be what I stated in my last DB, my boss outsourced the mundane part of my receptionist work for about $15 less than if I was to do it.
