KW 7.2 How Unequal is Wealth Distributed in the United States – and Why?

For this exercise I watched the video at http://mashable.com/2013/03/02/wealth-inequality/ and give some feedback and and expectation.

A) WOW! I believe I have seen this video before or at least the charts and I know that i have talked about this many times before in different classes and situations but it is still always surprising how skewered the distribution of wealth it in the U.S. I think I am like most people, and think wealth should be divided fairly evenly but slightly skewered and that there actually is a larger percent of money going to the top 20% of people but we don’t realize how bad it is skewered in reality. And I think that mote people should watch this video and know/learn/realize how bad our wealth distribution is in America.

B) In terms from this week’s information what we see here is the differences in social stratification (classes) and their inequalities. According to Marx there were only 2 classes but on Weber’s expansion there are 3 classes, the upper class (owners), middle class (non-owners with skills based on knowledge), and the lower class (the manual laborers). In reality the upper class is known as the powerful elite, and realistically they own the 84% of wealth in the U.S. and the top 1% has 40% of wealth in the U.S. What is valued in the U.S. is not achievable by many and because of this (standard of living) most people are considered middle class. As many know the top percent of wealth owners in the U.S. have more power than the middle or lower class. This is true socially, and politically, meaning that they have power over these things making their statuses even more unrealistic for the rest of us, and making it easier for them to maintain their standard of living.

 

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