The working poor (for tuesday 3/19/2013)

 

 

 

According to the class discussion and reading book by David Shipler, i believe the biggest problem in America is manifested by the income gap between the very rich people who usually are refered to as 1% and the remaining population including the rich, middle class and the poor people. The presence of this huge income gap is similar to what happened to back in the 1929 during the great depression where by the people who owned the major means of production such as steel mills by that time never cared for the welfare of their customers. All they cared about was how to maximize their profits while the rest of the majority was pludging into poverty.

There is a very technical way to solve this problem, one of them is to nationalize all major means of production like how FDR did, if the government would gain control over the ridiculous price rises, the consumers welfare would be put into consideration, more jobs will be created and people would have more money in their pockets and the economy will have a much more steady growth.