Intergenerational income mobility in American society
Income inequality has led to dissatisfaction, and many people have stood out for increasing the minimum wage. While the richest 1% will own more than the rest 99% combined (CNN, 2015), the gap between wealth and poor enlarges over time. In current society, financial resources are not being distributed to individuals evenly, on the other hand, many inequalities exist due to uneven distribution. Various factors are attributable to this outcome, and in fact, one’s family background is one of the most vital factors that impacting one’s income, especially the parental income.
As a basic unit in society, the families’ impact is tremendous on the family members, which becomes an indispensable …show more content…
While society has turned into a knowledge economy, in most cases, one’s occupation is bound to one’s educational attainment. In the article Inequality of Opportunity in Comparative Perspective: Recent research on Educational Attainment and Social Mobility, Breen and Jonsson (2005) compare low income and high income parents’ ability to invest, they state that low income parents are less likely to be able to provide their children as much as they need due to the lack of financial resources. (Breen & Jonsson, 2005) Therefore, individuals who are born in a high income family are more likely to be able to obtain opportunities than individuals who are born in a low income family, these limitations affect both educational and occupational …show more content…
Specifically, physiological needs are in the lowest level, which are the basic requirements for survival. For an individual who is suffering from poverty, this person might make survival a priority. Having money as soon as possible seems to be the most indispensable thing for them. Maslow indicates that once the lower needs have been met, one will attempt to meet their higher needs. Wealthier people are not concerned about their basic needs; most of them have fancy places to live, and then they have a sense of safety. Therefore, in general, they are more likely to have the sense of belonging than people from lower socioeconomic status families. Then they want more, try more, and then get
Income inequality has led to dissatisfaction, and many people have stood out for increasing the minimum wage. While the richest 1% will own more than the rest 99% combined (CNN, 2015), the gap between wealth and poor enlarges over time. In current society, financial resources are not being distributed to individuals evenly, on the other hand, many inequalities exist due to uneven distribution. Various factors are attributable to this outcome, and in fact, one’s family background is one of the most vital factors that impacting one’s income, especially the parental income.
As a basic unit in society, the families’ impact is tremendous on the family members, which becomes an indispensable …show more content…
While society has turned into a knowledge economy, in most cases, one’s occupation is bound to one’s educational attainment. In the article Inequality of Opportunity in Comparative Perspective: Recent research on Educational Attainment and Social Mobility, Breen and Jonsson (2005) compare low income and high income parents’ ability to invest, they state that low income parents are less likely to be able to provide their children as much as they need due to the lack of financial resources. (Breen & Jonsson, 2005) Therefore, individuals who are born in a high income family are more likely to be able to obtain opportunities than individuals who are born in a low income family, these limitations affect both educational and occupational …show more content…
Specifically, physiological needs are in the lowest level, which are the basic requirements for survival. For an individual who is suffering from poverty, this person might make survival a priority. Having money as soon as possible seems to be the most indispensable thing for them. Maslow indicates that once the lower needs have been met, one will attempt to meet their higher needs. Wealthier people are not concerned about their basic needs; most of them have fancy places to live, and then they have a sense of safety. Therefore, in general, they are more likely to have the sense of belonging than people from lower socioeconomic status families. Then they want more, try more, and then get