Naomi Lin (University of Michigan) on Economic Inequality
March 29, 2012
Is Economic Inequality the Single Greatest Problem in America Today?
The United States is one of the wealthiest countries in the world. It also stands as the country with the greatest income inequality gap. The proliferation of economic inequality between the top 1% and the 99% reveals the shrinking middle class along with all its disastrous ramifications. Repercussions influence a variety of spheres, jeopardizing financial security and increasing individual and collective anxiety. The spike in stress-related health concerns and the growing market for anti-depressants in recent decades testify to the inextricable ties between mental, emotional, and physical well-being. The aggravations are numerous and far-reaching; they share a common source: economic inequality. Freedom has always been a fundamental right and point of pride for Americans. But as Roosevelt once said, “True individual freedom cannot exist without economic security and independence.”
The oft-referenced “American Dream” promises that hard work will pay off and anybody can have a good life as long as they put in the effort. While there are famous individuals with rags-to-riches stories, they remain in the minority, and many hard-working people remain mired in the lower brackets of society. Unfortunately, society often brands them as “lazy” and oversimplifies the complexities of their condition. Stigma attributed to receiving welfare doubled with popular prejudice breed parasitic emotional and psychological strain.
In our plastic society, social status and sadly, worth, is often conveyed through commodities. Lack of material wealth signals a myriad of negative connotations: incompetence, stupidity, instability, etc. Basic respect is commoditized and “bought.” This leaves many Americans vulnerable to advertisers who sell the glamour of buying products. It is not uncommon for minimum wage workers to work multiple jobs, their time, energy, and health stretched thin. This especially impedes on those with dependents. More time is spent working to provide for children than spending time with the children, which inevitably affects educational development and incurs long-term consequences on both a personal and national scale.
I have only introduced a few key concerns stemming from economic inequality, but the greatest impact and danger of economic inequality is in American politics. Money is so inextricably tied to politics that the majority of the population has lost ground in policy making because they lack financial power. Corporations sponsor politicians pushing deregulatory policy and tax cuts. The government’s job is to protect the greater American population, not just the wealthy.
In our plastic society, social status and sadly, worth, is often conveyed through commodities. Lack of material wealth signals a myriad of negative connotations: incompetence, stupidity, instability, etc. Basic respect is commoditized and “bought.” This leaves many Americans vulnerable to advertisers who sell the glamour of buying products. It is not uncommon for minimum wage workers to work multiple jobs, their time, energy, and health stretched thin. This especially impedes on those with dependents. More time is spent working to provide for children than spending time with the children, which inevitably affects educational development and incurs long-term consequences on both a personal and national scale.
I have only introduced a few key concerns stemming from economic inequality, but the greatest impact and danger of economic inequality is in American politics. Money is so inextricably tied to politics that the majority of the population has lost ground in policy making because they lack financial power. Corporations sponsor politicians pushing deregulatory policy and tax cuts. The government’s job is to protect the greater American population, not just the wealthy.
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