SOCL 2501 Chapter : Inequality For All
Document Summary
It shows the parallels of income inequality in the us during the years 1928 and 2007 following the great depression and regression. The top 1% of people were earning almost 25% of all wealth and income in the united states at both times. These were also the years before the great depression and great regression occurred, respectively. The middle class is the core of the us economy. The middle class is growing smaller and this is negatively affecting the economy. 70% of the economy is predominantly middle class spending: pay attention to what the movie says about the wages of the middle class vs. wages of the upper class over the past 30 years (since the late 1970s). The upper class is profiting off of the increased productivity of their workers and factories, but are failing to raise wages for the middle class workers that increased such productivity.
