“Income Inequality: Too Big to Ignore”
Summary
Robert Frank, a professer at Cornell University, published an article for the New York Times on October 16, 2010. The title of the article was “Income Inequality: Too Big to Ignore”. In “Income Inequality: Too Big to Ignore”, Frank argues that there are differences in the social classes of the American people and that it is having a negative effect on our economy’s growth. Frank explains that middle class citizens are in a struggle to maintain a good financial position. Meanwhile, the upper class citizens are spending copious amounts of money which makes it increasingly more difficult for the middle class to meet their basic needs. He says that the middle class are looking toward upper class citizens, comparing their posesions as well as their financial positions which makes the middle class feel financially unstable.
Frank explains that the income gap between the classes are causing distress on marriages of American citizens. He states that divorce rates rise when people are in financial distress. in conjunction with finincial uneasyness, Frank explains that the willingness to ignore infrastructure is an effect as well as the relocation of lower class families to places that are further away from their places of employment. Frank concludes by how the income gap is not only unfair, but that it would be unwise to continue on the current path of income inequality. Connections
The Research paper on Determinants Of Income Distribution Inequality In Vietnam
Usually, during the long way to become developed countries, developing and emerging nations have been trading off many things, industry expansion versus environment purity, international integration versus cultural maintenance and improvement, etc. Among them, there always exists a problem that all developing countries like Vietnam are facing with, income distribution inequality. Vietnam has seen ...
Frank has a very bleak view of the economic status of America in which he shares with Herbert. One of the main evidence’s of this point is the comparison of Frank’s quote in which he states “By contrast, during the last three decades, the economy has grown much more slowly, and our infrastructure has fallen into grave disrepair.” (580) with Herbert’s quote “It will likely take many years, perhaps a decade or more, to get employment back to a level at which one could fairly say the economy is thriving.” (564)
In comparison between Frank and Thomas, each author believes that there is something wrong with the system and that the American people need to do
something about it. This can be justified within Thomas’ and Frank’s articles. Frank states “No one dares to argue that rising inequality is required in the name of fairness. So maybe we should just agree that it’s a bad thing – and try to do something about it.”(584).
Thomas explains “We must also understand what got us here and the path that leads upward.” (570)
Frank can also agree with Brandon King in the fact that America is still repairable. King states “If the Great Recession has taught us anything, it is that planning for the future by saving more and enacting policies that sustain economic growth are what will keep the American Dream alive.” In comparison, Frank believes that we need to consult the problem in order to repair it.
