There Has Been A Growing Gap Between The Rich And Poor

There has been a growing gap between the rich and poor in the world today. This is also known as economic inequality which consists of disproportions in the distribution of income and wealth between rich and the poor. This essay will look into two articles, firstly it will analyze the disparity of wealth between rich and poor in United States. This essay will also try to explain why there is so much inequality by using different sociological theories. According to the Bloomberg (2017) article the gap between the rich and poor in US is widening, the report states, â€Å"the difference in annual income between households in the top 20 percent and those in the bottom 20 percent -- ballooned by $29,200 to $189,600 between 2010 and 2015, based on†¦show more content†¦Whereas a person born in a poor family will struggle to get quality college degree because that person does not have enough money to go to a university. This again shows the differences in social class and what can be archived. Another good example would be nannies. Most of the rich families pay low wages to them when they take care of families’ children. Same thing applies to gardeners who look after the flower gardens or maids who pick and clean laundries. They have no means to move ahead in life meaning they cannot be successful because they earn low wages and depend on paycheck to paycheck lifestyle to survive where there is not much savings. This system of class stratification has been continuing from generations, those who have been born into a wealthier family are supposed to have more chance of getting better education and health and having a head start over society, that remains in the lesser part of wealth. Disparity shadows generation to generation. Moving on, functionalist s theory is constructed on meritocracy and that its functions are education, occupation, income, high and low achievements. â€Å"The meritocracy argument states that those who get ahead in society do so based on their own merit†. (Carls 2013. Pp 31) Functionalist says that we all can climb the ladder which is based upon our accomplishments. As this theory is based on rewards such as higher jobs which means equally higherShow MoreRelatedThe Context Of Growing Economic Interdependence1672 Words   |  7 Pagescontext of growing economic interdependence (globalisation); inequality is both growing within and between nations. In turn, analysing the following the following statement that â€Å"Inequality can undermine economic, social and perhaps even political stability. It can tear the very fabric that holds society together. We now have firm evidence that a severely skewed income distribution harms the pace and sustainability of growth over the longer term. 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