Economic Equality
Economic Inequality
The growing economic inequality in the United States is an ongoing issue and over the years has changed. According to past studies done by the US Census Bureau changes in earnings distributions have had a huge effect on this inequality. Just take a look at some of the people in the fields where you work or maybe family members work and the income inequality is very evident for many different reasons. With help of studies done by professionals and my own experiences we will pinpoint some of the ongoing issues of the reasons behind this inequality.
“Structural changes in the economy which translates into differences in wage premiums paid to workers with certain skills.” Barry Bluestone paragraph 5. This research shows how someone who may be in the same field as another worker, but may not be as skilled as the other. This will cause the more skilled worker to have a better chance at making more money due to just that fact. In my experience in the manufacturing field I seen that many workers who were skilled did seem to move up the ladder, but sometimes the income scale was not raised to the maximum of the skills of the worker. I have seen many times that you may have the skills but if the company can’t give you economically what your skills are worth then that is the start of inequality. Also with in this same study it was found that women and women were remaining on the same level of changes throughout the years. “Over the years inequality for both men and women who were full time, year round workers grew consistent with income inequality.” Us Census Bureau. Page 3.
According to studies done by Business week the ratio between CEO and factory workers rose 42:1. “While the CEO’s income increased by 300% the federal minimum wage declined by 9.3%” Executive exvess,2008. I will never be an equal income when you compare the two the bigger and upper management will always have the advantage, than a factory worker. Even if the factory worker moves in
The growing economic inequality in the United States is an ongoing issue and over the years has changed. According to past studies done by the US Census Bureau changes in earnings distributions have had a huge effect on this inequality. Just take a look at some of the people in the fields where you work or maybe family members work and the income inequality is very evident for many different reasons. With help of studies done by professionals and my own experiences we will pinpoint some of the ongoing issues of the reasons behind this inequality.
“Structural changes in the economy which translates into differences in wage premiums paid to workers with certain skills.” Barry Bluestone paragraph 5. This research shows how someone who may be in the same field as another worker, but may not be as skilled as the other. This will cause the more skilled worker to have a better chance at making more money due to just that fact. In my experience in the manufacturing field I seen that many workers who were skilled did seem to move up the ladder, but sometimes the income scale was not raised to the maximum of the skills of the worker. I have seen many times that you may have the skills but if the company can’t give you economically what your skills are worth then that is the start of inequality. Also with in this same study it was found that women and women were remaining on the same level of changes throughout the years. “Over the years inequality for both men and women who were full time, year round workers grew consistent with income inequality.” Us Census Bureau. Page 3.
According to studies done by Business week the ratio between CEO and factory workers rose 42:1. “While the CEO’s income increased by 300% the federal minimum wage declined by 9.3%” Executive exvess,2008. I will never be an equal income when you compare the two the bigger and upper management will always have the advantage, than a factory worker. Even if the factory worker moves in
Cited: Graham, Phillip and Steve McMillan. “The Real Causes of Income Inequality.” Wall Street Journal Online. 6 Apr. 2012. Web 28 Sept. 2012. <http://online.wsj.com/article>. Gutman, Huck. “Economic Inequality.” Common Dreams. July 2002. Web. 28 Sept. 2012. <http://www.commondreams.org>. Jones, Arthur F., Jr. And Daniel Weinberg “The Changing Shape of the Nation’s Income Distribution: Consumers Income.” US Census Bureau. 60-204. June 2004. Web. 28 Sept. 2012. <http://www.census.gov/hes/income/data>. G. William Donhoff. “Who Rules America”. Department University of Califonia. 2012 http://whorulesamerica.net/power/wealth