One of the reasons why the rich get richer and the poor stay
poorer are because the wealthier are better and more skilled in acquiring more
money. With more money, they will be able to start a business, or etc. and with more businesses, more money will be earned.
The poor, however, with insufficient funds, will sometimes be
unable to afford an education. Therefore, with no education, the job opportunities will clearly not be as good as those with a good education. Compared to the wealthier class, poorer people will not be able to begin businesses due to the lack of funds as they usually use most of the money they earned, and cannot save because of the minimal pay and necessities to survive.
One of the other reasons that we have discussed in class is because of the unjust tax payments. Those who earn minimal wages are charged high taxes that they cannot afford. However, those who earn millions are not charged as high of a tax they should be.
This stratified society basically is consisted of the wealthy exploiting the poor. There are many examples around the world in which the wealthy exploit the poor, such as a regular business. A specific example would be companies like Apple who use China's workforce as a location to produce their products. The price of an iphone may reach up to 30,000 php, however, the materials and labor costs would not amount up to 30,000 per item. This would be exploiting the workers in China as they are not getting paid an equal amount, and are actually getting paid unfairly.
With this, those who can afford to have invested in Apple, or the owners of Apple will benefit greatly from selling millions of iphones that on average costs about 20,000 to 30,000 php per phone. They will then earn more money, and those who have produced the product are paid at a minimum.
"The top 1% control 46% of the worlds assets -- and 86% of of global wealth is owned by the richest 10%."
Source: http://finance.yahoo.com/blogs/daily-ticker/more-proof-rich-getting-richer-poor-poorer-154916333.html
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ReplyDeleteFirst one to post Bettina. Well done. I see what you're going for with your China example but can't it be argued that these workers making who make iPhones (and thousands of other products) are actually becoming richer? In which case, the poor are not necessarily staying poor...
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