Topic > The Middle Class in Robert Reich's Inequality for All

Inequality for All Robert Reich is on a mission to change America's economic status. In his documentary Inequality for All he highlights some of the gaps in the laws of the American government, as well as confirming and justifying the growing difficulties that the middle class is facing. Start the discussion with the suspension bridge effect. In 1978, the average middle-class American worker earned approximately $48,302 per year, while the average wage for the top 1 percent was $390,000 per year. Fast forward to as recent as 2010, the average salary of middle class workers drops to $30,000 while the top 1% rises to around $1 million. Emmanuel Saez and Thomas Piketty have been studying IRS tax data since 1928. They found that when the economy begins to prosper, money begins to concentrate in the hands of fewer people. As a result, the middle class began to spend more money to maintain their living status, going deeper and deeper into debt. Soon the debt bubble will burst, hence the great depression. According to Reich, the stability of an economy depends on the prosperity of its middle class. The cause of the depression was the failure to return wages and money to the middle class. The virtuous cycle of a healthy economy occurs in 6 phases: productivity growth, rising wages, more jobs, increasing tax revenues, public investment and educated workers. A healthy economy is possible, but it is not our reality today. The two factors that led to the flattening of wages in the 1970s were globalization and technology. Walmart, Exxon and Apple are some of the companies that have succumbed to globalization. As a result, there are fewer jobs in America. Fewer jobs in America lead to less money in circulation and higher wages. The middle class is the heart of the economy, and if it is struggling then our understanding is that yes, education and family confidence have benefited some people. I just couldn't understand why my mother worked hard and her bosses who sat behind a desk earned more money than her. I found this documentary very interesting, captivating and inspiring. The comparisons between the 1978 crash and the 2010 crash were shocking, considering that history is taught in schools to prevent it from repeating itself. I also found Riech very passionate in his fight for equality. I would have liked to hear more of some opposing opinions. I didn't want to have a partial view on the subject. After seeing Inequality for All, I returned to my dorm room in search of reasonable objections to Professor Reich's data and claims. Most comments agree that the documentary is truthful and well made. While other comments claimed that Reich knew nothing about economics and that it was all rubbish, these comments had no events or reasons to back it up. Finally, rare.us uniquely takes some of the key points of Reich's argument and combats them one by one. Overall, it was very difficult for me to find good answers to his arguments. This documentary left me with three questions: what is the most logical solution to solve this problem, how to prevent this problem from occurring in the future, and does population growth affect data at any time?