tag:blogger.com,1999:blog-34844320750745018612023-06-20T05:29:06.764-07:00Taylor's BlogTaylor Raylhttp://www.blogger.com/profile/09849473995000275862noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3484432075074501861.post-91210348067746198052012-02-13T15:09:00.000-08:002012-02-20T14:09:00.570-08:00The Consequences of Economic Inequality by Taylor Rayl<link href="file://localhost/Users/tr734411/Library/Caches/TemporaryItems/msoclip/0clip_filelist.xml" rel="File-List"></link>
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<span class="Apple-style-span"><span class="Apple-style-span" style="font-size: 15.6px;">Economic inequality is not a problem the United States is
unfamiliar with. Its roots reach back all the way to the Great Depression.
This inequality has obvious consequences for the country economically but
if you look deeper into the issue you will see the possibilities for personal
effects. These personal consequences have a very wide range. The
difference in classes and wages and the social aspects all contribute to
something bigger. The available opportunities and well being of the people
in the United States is deeply affected by this issue of economic inequality.
Economic inequality does not only hurt people’s wallets, its damage can
run much deeper than that.</span></span></div>
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<tr><td style="text-align: center;"><a href="http://acivilamericandebate.files.wordpress.com/2011/04/us-income-inequality_uneven_prosperity1.gif" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="274" src="http://acivilamericandebate.files.wordpress.com/2011/04/us-income-inequality_uneven_prosperity1.gif" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Image from <a href="http://acivilamericandebate.wordpress.com/2011/04/10/the-30-year-growth-of-income-inequality/">A Civil American Debate</a></td></tr>
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<i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Where
did the Inequality Begin?</span></i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><o:p></o:p></span></div>
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<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span class="Apple-style-span" style="line-height: 200%;">This problem is rooted all the way
back to the 1920s, “history shows a clear link between inequality and
instability”</span></span><span class="Apple-style-span" style="color: #141413; font-family: Times, 'Times New Roman', serif; line-height: 200%;"> as stated in <a href="http://guardian.co.uk/business/2012/feb/05/inequality-leads-to-economic-collapse?INTCMP=SRCH"><i>Why economic inequality leads to Collapse</i></a></span><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span class="Apple-style-span" style="line-height: 200%;">.
Around this time there was a shift in economic theory. </span></span><span class="Apple-style-span" style="color: #141413; font-family: Times, 'Times New Roman', serif;"><span class="Apple-style-span" style="line-height: 200%;">This
change in theory was accompanied with a steady rise of inequality. The poor
were not the only ones suffering. The middle class was also affected in a big
way by often being left behind. The effects of “these trends not only ushered
in increasingly divided societies; they also proved to be an economic time-bomb.
Widening inequality became a key - if largely unrecognized - ingredient in the
growing fragility of the economy and played a central role in the build-up to
the credit crunch and the subsequent recession”(Lansley 166). This is a problem
we have been dealing with for a very long time. Now we see this issue
resurfacing in our country again today, but the gaps are getting larger. If you observe the graph above you can see just how large the gap really is and how the incomes of the wealthy grow faster. Wages
have been raised but not just for one class, because of this the gaps still
remain. When the country was going through this before “the lesson …was that
unequal enrichment provokes asset bubbles, excessive demand for debt and,
finally, economic failure. Now we are painfully learning that again.”
(</span></span><i style="color: #141413; font-family: Times, 'Times New Roman', serif; line-height: 200%;">Why economic inequality leads to Collapse</i><span class="Apple-style-span" style="color: #141413; font-family: Times, 'Times New Roman', serif;"><span class="Apple-style-span" style="line-height: 200%;">).
The past provides us with evidence that economic inequality does not bring good
things, but some do not consider the extent of these consequences</span><span class="Apple-style-span" style="font-size: small; line-height: 200%;">.</span></span><span class="Apple-style-span" style="font-size: small;"><span class="Apple-style-span" style="font-family: Times;"><br /></span></span></div>
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<i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Is
the American Dream Slipping Away?</span></i><br />
<i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"></span></i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; font-size: 15.6px;">The American Dream. This is a
concept we have been taught about from early childhood. It is what most people
use as the basis of their definition of “success”. This dream provides hope for future generations to better
themselves and have more opportunities than the ones before them. It also gave
those from other countries hope that they could come here and make something of
themselves. The idea of this dream was ultimately to be successful, healthy and
find happiness. The American dream has provided many with hope and the drive to
do more, but could this inequality threaten all of that? In his article for CNN </span><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; font-size: 15.6px;"><a href="http://www.cnn.com/2012/01/30/opinion/obeidallah-occupy-gop-influence/index.html?htp=us_mid">Dean Obeidallah</a></span><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; font-size: 15.6px;"> even went as
far as saying “if we continue down this path of greater income inequality…the
unthinkable could occur: the death of the American dream”.
There are many parts that compose the American Dream. These include social,
health, and educational aspects of life. All these things are keys to achieving
the American Dream. If they begin to fade or weaken them parts of the dream
will go with it. It might be a little unrealistic to say it would disappear all
together but the chances of people striving for and reaching the dream will decrease
if the inequality continues to increase.</span></div>
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<i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">How
Does Inequality Effect Health?</span></i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><o:p></o:p></span></div>
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<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">There are a few ways inequality can affect
one’s health. One way is by causing mental illness. Depression is a large
problem in our nation right now. Statistics from <a href="http://toomuchonline.org/a-self-help-book-for-societies/"><i>Why Greater Equality Makes Us Stronger</i></a><i> </i>show that “huge numbers of people
in the United States hold prescriptions for anti-depressants…huge numbers of
Americans, in other words, are feeling plenty of pain”.
Some blame this on the fast pace of modern life. But as some researchers dig
deeper into this they realize life in the fast lane might not be to blame, it
could actually be inequality. The inequality puts stress on people in many
ways. A study shown in <a href="http://www.nytimes.com/2006/06/25/business/yourmoney/25view.html?adxnnl=1&adxnnlx=1329735902-lnk904QyCc8AK9j13emcgA"><i>Income Inequality, and Its Cost</i></a> done by epidemiologists, people who study the health of
populations, showed that the </span><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">“reason
for the disparity was the greater inequalities in the United States and heavier
stresses resulting from them”. The gaps created by income and wealth divide
people and create stress. People are not reaching the highest status and have
to watch others surpass them. This is bound to make people feel less than
others. These feeling are going to become more frequent as the gaps grow
larger. The bigger the gap the higher people have to clime to escape the social
label they currently fall under. The pressure of succeeding or status insecurity
can cause this stress to keep growing and lead to one’s health suffering. Life
expectancy is another issue that comes up when discussing the effects of inequality.
There were also studies done by epidemiologists about this subject as well. The
studies showed that “people in more equal societies simply live longer,
healthier, and just happier lives than people in more unequal societies”
(<i>Why Greater Equality Makes Us Stronger</i>). These studies
explored many aspects of life. Some of the things observed in these studies were
who lived the longest, where were there higher levels of obesity, and who had
the most mental illness. All these factors caused by inequality effect a
nations life expectancy. The expectancy is lower because of the consequences of
this inequality. The United States has the label of one of the most unequal
major nations. This means the quality of life in America is not ranked very
high. The stress created by the inequality is damaging the quality of life in
this country.</span></div>
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<i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">What
are the Social Consequences of Inequality?</span></i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><o:p></o:p></span></div>
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<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">This issue of stress does not just
apply to the health problems; it also expands into the social aspect of life in
America. The economic gaps have an inevitable effect on our relationships with
others, “the wider the economic gap is between us, the more social status
matters. The more social status matters, the morel likely we will feel shame
and humiliation. The more stress these emotions evoke us, the weaker we get”( <i>Why Greater Equality Makes Us Stronger</i>). The inequality of
society replaces the sense of community with suspicion and even fear. This is
where the issue of lack of trust comes into play. As stated in the video above with <a href="http://www.youtube.com/watch?v=cZ7LzE3u7Bw&feature=player_embedded">Richard Wilkinson</a> on how inequality harms societies,
areas with greater equality have more trust in their society. With the gap
between classes some find it hard to trust those not of the same social status
as them. People choose friends who why feel are equal to them. It is rare to
see someone of a higher social class have much to do with the lower classes and
visa-versa. When those social bridges are crossed sometimes it is harder for
the groups to trust each other. Because of the risk of being looked down on or judged
based on social status the classes are socially split. More studies were done
that showed the correlation between inequality and the effects on society. They
considered teenage pregnancy and even criminal activity. These two happenings track
particularly well with economic inequality. There was a study done linking and
increase of teen pregnancies with inequality. In this study they found that the “teen
birth rate was higher with greater poverty and income inequality…social
mistrust was greater where poverty and income inequality were greater” (Bezruchka, Cawthon, <span style="font-size: 12pt;">Connell, <span style="font-size: 12pt;">Davis, </span> Heagerty</span>1117-1126).
So the issue of teen pregnancy is connected back to the lack of trust inequality
brings to a society. Criminal activity is also has its own link to inequality.
Most “<span style="color: #141413;">economic theories assume that the decision to
commit a crime is driven by the potential criminal’s calculation of expected
returns; in this framework, inequality may raise the expected returns from
property crime. By contrast, social psychological perspectives emphasize the
implications of inequality for perceptions of relative deprivation, which may
lead to frustration and hostility and thence to crime” (</span>Neckerman 343).
You would assume that in a state of inequality a person would steal because
they wanted what they do not have, but this observation by Neckerman denies that theory. This means that the hostility that people feel from the
mistrust and the stress created leads people to commit these crimes. This makes
society feel less safe, and that is yet another large component of the mistrust
and the stress felt by the people. <o:p></o:p></span></div>
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<i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Are there any Possible Solutions?</span></i><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><o:p></o:p></span></div>
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<span style="color: #141413;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Economic
inequality is not something that can be completely abolished; it is necessary
for our country to continue to function properly. There can, however, be
something done to lessen the gap between classes. One solution that has been
considered is raising taxes on the wealthy. In her article <span class="Apple-style-span" style="color: black;"><a href="http://www.cnn.com/2011/09/14/opinion/kohn-tax-the-rich/index.html" style="color: blue; text-decoration: underline;">Sally Kohn</a></span> agrees with this because she along with many others believes “</span></span><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">it's time to put
more money in the pockets of working Americans so they can spend it, create
demand and finally kick-start the economy”.
<span style="color: #262626;">Some identify this as creating a “class war”. It is
not to punish the wealthy, but to find a way to stimulate the countries
economy. In <a href="http://economix.blogs.nytimes.com/2011/12/06/raising-taxes-on-the-rich-not-whether-but-how/"><i>Raising Taxes on the Rich: Not Whether, but How</i></a> evidence is shown that</span> “<span style="color: #262626;">cutting
taxes for lower- and middle-income people and paying for it with higher taxes
for higher-income people…is unambiguously stimulative”.
So this solution has been found to actually be effective, it is not just a way
to put all the problems on the wealthy. If it is for the betterment of the
country sacrifices must be made. If this burden rested on the middle class the
gap would never close and it would only continue to grow. There is even a
growing population of wealthy people who are willing to pay higher taxes
because they too believe it is necessary to help our country. This would not
solve all the problems of economic inequality but it would be a start. Anything
to reduce the gap between the classes would be helpful.</span></span><br />
<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; font-size: 15.6px;"><br /></span><br />
<span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span style="color: #262626;"></span></span><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif; font-size: 15.6px;">Economic inequality is not bad all
together. It is necessary to have room for competition, but the gaps do not
need to be so wide. The American dream is not about eliminating inequality all
together, but it will make it possible to keep the dream alive and more
attainable by decreasing the gaps between classes. This dream has been an
important part of out society for generations and we should do everything in
our power to make sure it maintains its importance. Everyone should so their
part in trying to reduce the inequality in this country. This inequality can affect
anyone at anytime and in many ways. Whether it is as simple as casting a vote
or as radical as leading a protest everyone needs to make sure they contribute
anyway they can to stop this inequality from growing and keep the American
Dream alive. </span></div>
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<span style="font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;">Bezruchka,
Cawthon, Connell, Davis, Heagerty. “Teen births, income inequality, <o:p></o:p></span></span></div>
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<span style="font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;">and
social capital: developing an understanding of the casual pathway.” </span><i><span class="Apple-style-span" style="font-size: small;">Social <o:p></o:p></span></i></span></div>
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<i><span style="font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;">Science & Medicine</span></span></i><span style="font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;"> Sept. 2004: 1117-1126. </span><i><span class="Apple-style-span" style="font-size: small;">ScienceDirect. </span></i><span class="Apple-style-span" style="font-size: small;"> <o:p></o:p></span></span></div>
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<span style="color: #262626; font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;">Lansley,
Stewart. "How Soaring Inequality Contributed To The Crash." Soundings
<o:p></o:p></span></span></div>
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<span style="color: #262626; font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;"> (13626620) 44 (2010): 165-178.
Academic Search Complete. Web. 6 Feb. <o:p></o:p></span></span></div>
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<span style="color: #262626; font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;"> 2012. <o:p></o:p></span></span></div>
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<span style="font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;">Neckerman,
Kathryn M. and Florencia Torche. "Inequality: <o:p></o:p></span></span></div>
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<span style="font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;"> Causes and Consequences." </span><i><span class="Apple-style-span" style="font-size: small;">Annual
Review of Sociology</span></i><span class="Apple-style-span" style="font-size: small;"> <o:p></o:p></span></span></div>
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<span style="font-family: 'Times New Roman';"><span class="Apple-style-span" style="font-size: small;"> 33.1 (2007), 335-357.</span><span style="color: #262626;"><o:p></o:p></span></span></div>
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</div>Taylor Raylhttp://www.blogger.com/profile/09849473995000275862noreply@blogger.com1