The Urban Inquirer
A blog produced by students at Queens College, CUNY
How can we fix Economic Inequality

You see the word “inequality” everywhere, but what does it actually mean?  Economic inequality is described as the unequal distribution of income and wealth. In other words, the gap between the rich and the poor. We all imagine our world to be perfect that the distribution of our country’s wealth is equally distributed to the poor, middle class, and the rich. But in the society we live in today, that doesn’t exist. Since the first day of school, the saying “the poor are only getting poorer and the rich is only getting richer” has stuck in my head. It has come to me that, that is the case of the society we live in today.

Reading the opinion article “The Rise in Economic Inequality in the U.S.”  it states that “ David Leonhardt is exactly right – hard work just doesn’t pay off as it used to.” I strongly agree with what he is saying in our society today. The lower classes, no matter how hard they work they will never get to where they want to be. As Mr.Leonhardt states his plan on restoring the value of work. States that “ I have a plan to do that, combining ideas like giving workers more power in the workplace and encouraging companies to invest in their workforce.” I also agree on his plan on fixing this problem because the workers make up the companies. This is why I agree with Mr. Leonhardt that we should value the workers in the company and give them more power. This both benefits the company and the workers. As the workers are more willing to work and benefits the company by increasing in profits and the workers earn more to provide for their families.  

The graph shown in the article is a clear representation of the problem that is growing in today’s society. As shown on the graph in the 1980’s, due to the trade deficit (Is when a country is importing more than it is exporting goods.)  “the poor and middle classes to see the largest income growth” until 2014 where the 99.999th percentile has the largest income growth. The rich are able to benefit from the deficit while the working class takes the biggest hits for the economy. This graph really shows how drastically economic inequality has risen over the decades.

At the end of the day, economic inequality is a big issue in our society today. It is growing larger and larger over the years. After reading the article, I believe that the companies should pay more attention to the workers and give them more power because the workers make up the company. Why let the rich have all the money when poor people can’t even make enough to provide for their family. Giving the workers more power can bring more benefits to the rich and the poor. Everyone in this country can help fix this issue, you can start today by speaking out, signing petitions, knowing more information on how you can help, there are many ways you can help decline economic inequality so start today!

 

4 Comments to “How can we fix Economic Inequality”

  1. Imran Khan says:

    Do you think it is possible that if the workers are giving more power, it could affect the company negatively as they might become lazier,(clock in late and leave early) and delay production? Is this the reason their power is limited?

    • Hi Judy and Imran – the idea of worker cooperatives – which is what giving workers more power are IRL – is actually ‘a thing’ ! Here’s a general article on them, if you’re curious – https://www.theatlantic.com/business/archive/2015/07/no-bosses-worker-owned-cooperatives/397007/

      And based on what I’ve read, research suggests workers become more invested in the health of the business and so they may actually show up earlier rather than later!

      I wonder sometimes if the expectation we have of others laziness is just a mirage.. we’ll talk more about this in the 2nd half of the semester when we look at why poverty as pathology is even a notion some of us hold. To describe it in one word – politicians.. Stay tuned!

  2. Mia Narvaez says:

    Hello

    I just wanted to say that I completely agree with the statement that you pointed out made by Mr. Leonhard. We should value the workers within our companies and give them more power. I can’t help to think that it reminds me of that show on cable called “undercover boss”; where at the end of each show the CEO’s provide incentives to their hardworking employees. They do this as a show of gratitude and appreciation for all their hard work and dedication to their companies. In other words I think providing incentives through developing programs in their companies that’s goal is to help their employees in their every day life thrive. Like for an example: education reimbursement, free workshops and training would be useful. Interesting post!

    • Judy Wu says:

      Hello!
      I’ve watched “undercover boss” and I completely agree with you. I believe showing workers that they mean something to the company gives them more encouragement to do better at their jobs. I really like the idea of free workshops and training it benefits both the worker and the company.

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