For a decade, I have been focused on the increasingly large gap between the upper 5% and the rest of society. Our middle class is quickly merging with the lower class into one under privileged class of Americans, and the accelerated pace in recent years only exacerbates this problem. Socialism is not the answer, but neither is this march towards a gigantic economic disparity in the United States.
Lawrence Yun, the chief economist for the National Association of Realtors addressed this topic in the May/June edition of Realtor magazine. In it he pointed out that ”Over the past decade, renter households have grown by 8 million, while home owner households have fallen by 2 million. As a result, the country’s home ownership rate has fallen to a 20-year low and now stands at 63.9 percent…Given that home owner wealth is typically far greater than renter wealth, simple math will tell you that the rising ranks of renters and the shrinking ranks of home owners are a key indicator of the growing inequity across the country.”
Society’s response can come in a variety of forms, instigated by the perception from one class that they are being abused by the other. This is the recipe for revolutions, and while I doubt we’ll see the proletariat rise up in the United States in armed revolt against the bourgeois, their dissatisfaction with their plight in life can be manifest in a variety of other ways, such as decreased production in the work place, increased sick days, a tendency to throw in the towel and live on social welfare programs, or just plain cease to being a constructive member of society. That gap has been well documented as well, with an increasingly higher percentage of skilled workers choosing lower paying jobs.
Don’t believe everything you see on the internet, but if you really want to sit up and take notice on this subject, play the “Wealth Inequality in America by politizane.” Provided for you below.
It’s worth the six minutes. A stunning visual display of the disparity between the “haves” and the “have nots” in America, if you can believe it without researching the legitimacy of the data.
What’s the solution? There are no easy answers for complicated questions, which is no excuse to ignore the question. Instead, I think each one of us needs to address it in our own way. Some of us may find our role in the solution as easy as taking more of a personal interest in the private life of our employees and to see what input we can provide to make a difference. Others may prefer a more direct approach by getting involved in charitable causes that ease the plight of those in need. I personally prefer a more structured approach that formats regular community involvement through a community service organization, such as Rotary. Either way, it’s a personal choice.
–Mark and Lynn
