Economic And Political Inequality

Economic and Political Inequality in the U.S. The economic inequality in the U.S. today is brought about by the capitalist form of economy in the country. Capitalism advocates for an economic and political system where individuals own the factors of production rather than the state. Individuals in the US own industries and trade to earn profits. This system has created economic inequality throughout the country since there is the uneven distribution of economic resources. Capitalism the U.S. to become an economic giant in the world, but the level of income inequality has been on the rise since the 1970s. US is the biggest economy in the world with a GPD of $17419 billion in 2014 from an average GDP of $6353.60 billion …show more content…
Extreme wealth accumulation and inequality is dangerous, and it needs to be addressed to achieve democracy in governance. The wealthy people capture the political power and make it very difficult for the average people to make it to the higher positions. Many governments are inclusive governments only for the wealth and the ruling political class hence undermining democracy. The film “Inequality for All” is directed by Jacob Kornbluth depict the widening economic gap in the unaided stated of America. According to Reich (2013), only 400 people in the US control more wealth in the country that 150 million people does in the lower income bracket. Reich insists that he is not against the free market rules but question the capitalist system on who the benefit and how they benefit them. America no longer exercises democracy and equal opportunity for all, and the moral foundation principle is being washed away by capitalism (Inequality For All. 2015. …show more content…
Rich people and their children receive better education, healthcare and other opportunities than the poor. The income difference in the society will continue to give privileges to the rich and equal opportunities for all will remain just a dream. The poor will never have equal opportunities with the rich in the US since the rich owns the factors of production. Hence, income inequality will continue to undermine democracy (Gilens and Martin, 2012 Page 17). Political and economic inequality can be addressed by the government when it invests more in education and health sectors to create an enabling environment to achieve an equal opportunity for all. The government can develop a way to end extreme inequality and ways that the wealth uses to seek for the political favor that undermine democracy. The government can establish a standard wage that can harmonize the wage