How Income Inequality Benefits Everyone, By George Will
Economic inequality is a touchy subject, with people that view it as a good thing but most viewing it as a bad thing. In his article, “How income inequality benefits everybody”, George
Will goes over why economic inequality is a good thing by going over various things that get affected when the wealthy corporations outsource jobs and products. He uses examples from an author, John Tamny from Forbes, that are pointed to give the reason why outsourcing and the rich getting richer makes prices go down. George Will also gives statistics in the form of dates and prices as examples to show the reader how the outsourcing can affect prices. By focusing on how economic inequality benefits people, George Will overlooks the deeper problem of the
major …show more content…
Conclusion
It is a common belief among numerous scholars and common individuals alike that income inequality in the economy is a good thing for everyone. These individuals argue that income inequality improves the economy as the rich keep getting richer. One such person is
George Will who argues in his article that income inequality is not a probe but a solution as it works for the benefit of the poor and the rich in equal measure. George and other like-minded people claim that practices that further affect the income inequality such as outsourcing lead to the reduction of the costs of goods. However, on a personal level, I believe that income inequality is a bad thing that affects not just the poor people but also the rich and the economy in general. As seen from the arguments presented in the text above, income inequality in the economy is not justifiable by any standards and the government and other relevant authorities should come up measures and policies that can address the issue before it gets even worse for the sake of the economy and the American people as a
Will goes over why economic inequality is a good thing by going over various things that get affected when the wealthy corporations outsource jobs and products. He uses examples from an author, John Tamny from Forbes, that are pointed to give the reason why outsourcing and the rich getting richer makes prices go down. George Will also gives statistics in the form of dates and prices as examples to show the reader how the outsourcing can affect prices. By focusing on how economic inequality benefits people, George Will overlooks the deeper problem of the
major …show more content…
Conclusion
It is a common belief among numerous scholars and common individuals alike that income inequality in the economy is a good thing for everyone. These individuals argue that income inequality improves the economy as the rich keep getting richer. One such person is
George Will who argues in his article that income inequality is not a probe but a solution as it works for the benefit of the poor and the rich in equal measure. George and other like-minded people claim that practices that further affect the income inequality such as outsourcing lead to the reduction of the costs of goods. However, on a personal level, I believe that income inequality is a bad thing that affects not just the poor people but also the rich and the economy in general. As seen from the arguments presented in the text above, income inequality in the economy is not justifiable by any standards and the government and other relevant authorities should come up measures and policies that can address the issue before it gets even worse for the sake of the economy and the American people as a