Summary : Real Time Economics Essay

1082 Words May 4th, 2015 5 Pages
When a group of people were asked how they thought the economic conditions were: 46% of people said they thought the conditions were poor (Evans). There are many factors that go into a thriving economy, one is how the people contribute financially to it and how it in returns affects the people. Unfortunately, there has been an increasing income inequality that has left a majority of the people unable to contribute and has also caused significant problems for them in their way of life, the way they can pay debt, and also how they affect the political system. If more progress in the economy is to be reached, and there is to be equality in the government, the gap that has been expanding between classes needs to decrease greatly, but how current conditions are that may not happen. The upper-class of people have noticeably been making leaps and bounds above the middle and lower-class. The article, Real Time Economics, puts the gap into more understandable figures. In 2014 the median wealth of upper-income families in the U.S. ($639,400) was 6.6 times bigger than that of middle-income families ($96,500), up from 6.2 times in 2010. Also, the upper-income families now have a median wealth level that is nearly 70 times the lower-income families(Shah). This is a massive difference between the classes that does not allow for equal opportunity and will ultimately end up hurting the country. For a gap like this to happen the wealthy must have a source for the money to come from. Much…

Related Documents