1000-Word Letter Assignment

Government policies also dictate wealth and its distribution. Good examples are the money-related policies. US’ government, for example, is supposed to control the supply of its cash to guarantee its currency value strength (Krugman, 2014). Proper of such policies will encourage a country's financial development and security and lower the joblessness not in some parts of the country but all of them. Furthermore, when a nation is able to keep the value of its currency high and strong, it presents an equal platform for all of its citizens—men and women, old and young and other groups— to earn well and raise their living standards. Comment by 作者: The US government, for example, controls the supply of cash to… Comment by 作者: Effective policies encourage a country’s … Comment by 作者: You have not related to the distribution of wealth.

Age is another factor that affects wealth distribution in the US. There is a huge gap in terms of wealth between the young adults and the elderly. Stats show that the vast of the riches in the US belongs to the retired citizens with the number soaring significantly from the 1980 era. As such, today, individuals beyond 65 years hold the most—around 66% —of aggregate family unit riches in the US (Krugman, 2014). The fact that the majority of these people are retired implies that their wealth resulted from their good wages or salaries. Looking at the situation of the young adults today, on the other hand, the majority of them are jobless and therefore, it is apparent they are poor. On this ground, the present society should offer the youths opportunities today to earn and acquire riches. Otherwise, in the future, we are all going to be poor as we watch the old age with their wealth. Consider that it will be difficult to avoid poverty for two reasons: Comment by 作者: Not accurate. That means more than 50%. Put in a percentage. Comment by 作者: Comment by 作者: Basedon this, society should offer young adults opportunities for jobs.

1) Because the richest people now are the poor but because they are old retired, they will rely on their riches—their reserves, which will eventually reduce and get finished by the time they die and,

2) Since the youths are jobless now, they will not be able to accumulate any wealth, which would even serve them during their old ages as the current elderlies. Comment by 作者: You raise two excellent points, but that does not lead to overall poverty. It could represent a decline in the US economy, however. Think about what you are writing. You also need sources.

Economic markets, as well, influence wealth distribution. Our society comprises of majorly farmers and business people. Farmers have life's essential products like food but lack money. Business people, on the other hand, have money but lack food and other commodities. In whichever way, there is an uneven distribution of resources; hence, wealth, as an equal distribution means that all of these people have the life's essential products and cash. Economic markets steps in at this point. According to Domhoff (2005), economic markets are places or situations that bring farmers and traders together to exchange their surpluses for what they do not have. In this respect, they help to strike a balance in the distribution of resources, and so wealth. Comment by 作者: Not to this format.

From this analysis, it is apparent that we are miles away from the equal distribution of wealth. The socioeconomic class division is one of the prime characteristics of our society today where slams and other low-status residences are associated with the poor and the high-class places with all sorts of improved and better quality services with the rich (Domhoff, 2005). All these emanate from the uneven distribution of wealth. If all people were rich, there is a high probability that slams and other low-status residences would not be in existence. The rationale is that everyone around the country would be in demand for high-quality goods and services. As such, with this kind of better living standards, no one would be struggling and the whole country would grow and develop.

Nonetheless, it is totally the opposite with the rich living in presumably a land full of "honey and milk" while the poor are struggling in the "deserts." Among the many factors that emanate from this uneven distribution of wealth are crimes. What do you do when you are jobless and do not have a single sense yet you have to pay bills and eat, and on the other side, there are people enjoying life with surplus food and cash? Some con, others steal and even robe. The gap also fuels corruption according to Krugman (2014). Money is very powerful. Because of it, many civil servants have bent the low in favor of the rich. In this regard, I argue suppose that the only best way of curbing the current socioeconomic problems is by striking the right balance between the rich and the poor, and that means ensuring an even distribution in wealth.

Sincerely,

References

Domhoff, W. (2005). Wealth, Income, and Power. Who Rules America: Wealth, Income, and Power. Retrieved from www2.ucsc.edu/whorulesamerica/power/wealth.html.