Economic Inequality Problem in America

0 / 5. 0

Economic Inequality Problem in America

Category: Article

Subcategory: Classic English Literature

Level: High School

Pages: 1

Words: 275

Economic Inequality Problem in America
The views by Joseph Stiglitz in his book “American Dream is a Myth” that American dream of achieving economic equality among all the people, the U.S. citizens, and providing equal opportunities for the rich and the poor alike are now no longer a dream but rather a myth is what changed my view about the world. On 23rd April 2015, I watched Joseph Stiglitz on the CBS news as he tried to explain his assertion and that too had the impact of changing my view.
His view never changed my view about the world immediately but rather after conducting a self-reflection so as to understand some sense out of what Joseph Stiglitz’s arguments was and its explanation’s validity. After a critical and logical memory search coupled with the socioeconomic class division occurrences being witnessed today in America, I came to the realization of the fact that the U.S. is indeed characterized by the severe economic disparity (inequality) problem.
In the U.S economy currently is characterized currently by unimaginably inequality in that there are those people who are extremely rich while others suffer in excess poverty. Based on this observation and the fact that the gap between the end is enlarging each day, I now fully agreed with Joseph Stiglitz’s argument that economic inequality is indeed a problem in America.
Though the problem of economic inequality is a depressing one as the event explained by Joseph Stiglitz,the events have changed by view positively in the sense that being on the economic class of either rich or poor is all about the question of: “What do you choose in life?” and that the solution is purely dependent on an individual’s choice (Verba and Gary 27). He also cements that point by stating that in U.S there exist a lot of opportunities for economic prosperity and therefore the decision to be in a particular economic position depends with an individual.
I know the stories of some people in the U.S. who were once poor or from poor family backgrounds, but today, they are extremely prosperous economic-wise such Barrack Obama (the current U.S. President) and Oprah Winfrey among others. Therefore, this justifies the fact that, yes, there is a problem of economic inequality in the U.S. Nevertheless, the choice of being in a certain economic position lies with an individual (Carl 06).

Works Cited
Carl, Jim. Freedom of Choice: Staying Poor or Living Rich. Princeton, N.J: Princeton University Press, 2012. Print
Verba, Sidney, and Gary R. Orren. Economic Inequality in America: The View from the Top. Cambridge, Mass: Harvard University Press, 2015. Print