Robert B. Reich is an American political economist and professor who has written extensively on the topic of income inequality and the growing wealth gap between the rich and the poor. In his book "Why the Rich are Getting Richer," Reich argues that the rich are getting richer because of structural changes in the economy that have led to a concentration of wealth and power among a small group of people at the top.
According to Reich, one of the main reasons the rich are getting richer is because of the increasing power and influence of large corporations. These corporations have been able to take advantage of globalization and technological change to become larger and more profitable, while simultaneously exerting their influence on government policies and regulations to further benefit their own interests. This has led to a situation where the top 1% of earners are capturing a larger and larger share of the nation's wealth, while the middle class and working poor are being left behind.
Another reason the rich are getting richer, according to Reich, is the growing importance of education and skills in the economy. In the past, people could get ahead through hard work and determination, regardless of their educational background. However, as the economy has become more complex and knowledge-based, the value of education and specialized skills has increased dramatically. This has led to a situation where those with advanced degrees and specialized skills are able to command higher salaries and benefits, while those without these qualifications are left behind.
Reich also points to the role of government policies in exacerbating income inequality. He argues that government policies such as tax cuts for the wealthy and corporations, and the erosion of labor protections and union power, have contributed to the growing wealth gap. These policies have allowed the rich to accumulate more wealth and influence, while leaving the middle class and working poor behind.
Overall, Reich's argument is that the rich are getting richer because of structural changes in the economy and government policies that have tilted the playing field in their favor. He calls for a more equitable distribution of wealth and power, through policies such as progressive taxation, stronger labor protections, and investments in education and training for the middle class and working poor.
Why the Rich Are Getting Richer and the Poor, Poorer
Unfortunately, this trend is contributing to the growing divide between the rich and the poor. According to Reich, the richer are becoming richer because they take the largest slice from the national wages. But this is put into place only so they can continue buying the goods. In the year 2013, the budget of the President was built such that the country would do better when there is equitability, and people do their part to aid in the growth of the economy by practicing fairness. And many of the rich people will refuse to help the poor, even if they are more than capable of doing so.
Robert B. Reich: Why The Rich Are Getting Richer And The Poor, Poorer, Sample of Essays
Different class affects more than life-style and material well-being. He has been into top-notch employment as well as the political field. Reich uses a metaphor to explain how the economy is going down and up for the rich and the poor. The theory stated that in nature, only those who were the fittest survived. Unskilled manufacturing jobs are going to Southeast Asia, Latin America, and to places around the world where they can be undertaken more cheaply than in the United States or Canada. Therefore, the authors argue that in response to the support of government for insourcing industries, the retail and IT industries able to notice the better quality of American manufacturing and flexible unions are making the decision to insource easier Nodoushani and McKnight 167-168.
Robert B. Reich: Why the Rich Are Getting Richer and the...
The trend of multinational corporations playing an ever-larger role in our economy is contributing to the growing divide between the rich and the poor. They are being traded, sold, and most importantly bought, by those who have the means to do so; creating a system where the rich get richer, the poor get poorer, and where privilege is defined as being white and male. Over the next 60 years, the technology will change the world and the way it does business. This Utopia, which I shall refer to as the United Socialist States of America USSA , is going to be built around the premise of economic equity through the equal distribution of resources and knowledge. There have been concerns in decades regarding the increasing gap between the rich and the poor.
Why the Rich Are Getting Richer and the Poor Poorer by Robert Reich? Free Essay Example
What is economic inequality? Reich talks about how these things are designed to keep the lower class salaries from dipping too low. Reinert is a 62-year-old Norwegian economist who specializes in development economics and economic history Wikipedia. According to reports, more than a billion people have been lifted out of severe poverty during the previous 30 years. A working middle class, with very limited power which earns an average salary, and are able to generally get by with their nine to five occupations. The American government system, and those who make it, are compromised. There was a time I could not access my wireless internet thus had to fix the routers.
Robert B. Reich: Why the Rich Are Getting Richer and the Poor, Poorer.
There should be devised means to keep the small class salaries from stooping too low as Reich puts it across. However, these are just put in place not because one cares but only to make them be able to keep purchasing the essential products. The proletariat, the lowest stratum of our present society, cannot stir, cannot raise itself up without the whole superincumbent strata of official society being sprung into the air. In the entire article, Robert Reich writes about the enlarging drift between the top section of the society from the lower end. Although he does not have a degree in economics, he has written several books on the subject, including "The Work of Nations".
