Why The Rich Are Getting Richer And The Poor Poorer Summary

Why Do The Rich Become Richer and The Poor Poorer?

In this world, there are two types of people are living: Poor and rich. Country, company, organization and individual are attempting to be rich than other. We may observe the lifestyle of our society, country or person or friend. We attain differ each other because of money or wealth. Today , every person are talking about own or others wealth. More books such as one by Robert Reich are written and printed or digitiged about this topic.

Robert Reich’s perspective

Robert Reich in his work “Why the Rich Are Getting Richer and the Poor, Poorer” discusses the issues surrounding the rich becoming more affluent and the poor languishing in poverty hence the reason why the economy continues to worsen. According to the author, what people do in the world depicts the positions they will partake. He uses three examples to explain this situation. These are routine producers, in-person servers and symbolic analysts.

He describes routine producers as those who work in the manufacturing industries and these people are poor because they are not members of any unions, they are paid very low wages and they are constantly replaced by technological machines.

Why The Rich Are Getting Richer And The Poor Poorer Article

Robert Reich uses the examples of rising and falling of boats due to tides to explain the differences that exist between the rich and the poor.

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Companies and education play a big role in the increasing gap between the rich and the poor. In contemporary America, those who are educated continue to prosper while those who lack basic education are disadvantaged when it comes to employment opportunities. Companies are opting to employ workers from over seas because it is cheaper to pay them.

The in-person servers’ boat is also sinking because their position is threatened by the routine producers. In-person servers are those who are in the personal service industry. Routine producers who cannot find employment are increasingly becoming in-person servers and this poses a threat to the availability of employment opportunities for in-person servers.These routine producers include immigrants and school dropouts. Moreover, the reasons why routine producers join the in-person server world are technological advancements and lack of working benefits. In addition, the symbolic analysts continue to become wealthy because their clients are wealthy. Their business includes selling valuable information to their clients especially about money matters. The writer concludes that the economy of the country does not depend solely on its citizens but on the whole world.

Robert Reich denotes that routine producers will soon be faced out of the employment industry. This is given by the fact that more companies are embracing technology in production therefore buying machinery instead of using labor. In addition, these companies are establishing themselves in developing countries where they will pay workers less than the minimum wage. This is strategy used by the rich to maintain and increase their wealth within and without America. Given by these two factors, routine workers in America remain unemployed and poor and as a result, the gap between the rich and the poor will continue to widen.

My thoughts on why the rich are getting richer and the poor poorer

In my opinion, there is a reason why “the rich become richer and the poor become poorer”. It’s not because of a disparity or unfairness in society, and it’s not just luck. It’s not limited government, and it’s not more government. There is really only one reason that rich people tend to increase their wealth and poor people don’t. It’s because successful people take advantage of a principle (whether they know it or not) that eludes the “unsuccessful”.