Income Inequality In Raymond Carver's Memoir

Document 3 shows that coal production increased by 110 million metric tons in ten years from 1928 to 1938, during the two Five-Year Plans. However, Document 5 shows how drastically livestock decreased during the two Five-Year Plans. In ten years the livestock population decreased by 16 million. As a result of the Five-Year Plans the industrial output was 5.8 times larger than in 1913 in 1937, and the Soviet Union was the first European country with that volume of mass production. In 1940, there were 9,971,000 industrial workers, three times the amount in 1928 before the Five-Year Plans.

Low unionization rate among industries, the rate continue to drop since the year 1954, which result in widening pay differences. 4. Globalization of the economy causes wage to rise among trading partners and decline among own employees. 5. Restructured workforces of businesses.

The general consensus is that the great depression was caused by the stock market crash and the stock loses its value. Few days in October 1929 stock prices declines were first seen on October 3rd, 4th and 16th. On Wednesday October 16 1929 stock prices declined for the 3rd time that month. After the economic drops

Then in 1985, oil prices fell and some people who invested their money in thrifts defaulted because it made their investments unprofitable. Between 1982 and 1985, the thrift industry expanded as the funds were flowing in this industry due to the shift to the financial market. During this time there was a decline in mortgage lending of savings and loans institutions from 78% to

McDowell county has the lowest median household income of $22,000, and the highest number of teen births. Rocket Boys by Homer H. Hickman Jr., The Glass Castle by Jeannette Walls, and 50 Years Into the War on Poverty, Hardship Hits Back by Trip Gabriel are memoirs and articles describing life in McDowell County throughout half a century. Rocket Boys takes place in the 1950s and 1960s in Coalwood when the coal is getting harder to mine and people are losing jobs and leaving the company towns. The Glass Castle takes place a few decades later, during the 1970s and 1980s in Welch, when most mines have shut down and many people are unemployed. The last article, 50 Years Into the War on Poverty, Hardship Hits Back, describes life in McDowell County

From 1929 to 1933, more than two-fifths of the nation’s 24,970 banks disappeared through failure or merger Robert J. Samuelson: Revisiting The Great Depression; page 15). Banking panics began as large numbers of investors lost confidence in their banks and demanded deposits in cash. As more banks went bankrupt, it only increased the panic and the demand for Americans to withdraw their money from the banks because they did not trust them. In addition to the banking crisis around the country, banks reduced lending and there was a fall in investment.

In 2011 only 19.35% from all the Roma were employed, compared to nearly 80% in the 80s . After the political change in 1989 the country entered into a long and exhausting period of social and economic transition, which affected the whole economy. The majority of the Roma population lost their stable unqualified work in agriculture and manufacturing due to the shift of the economical

The Great Depression start on October 29 1929. The Depression was a time of economic downturn resulting in many people losing their jobs, house money, etc. The Depression started with the crash of the Stock Market which quickly spread its way through America. Herbert Hoover, Franklin Delano Roosevelt predecessor believed in an economic philosophy called Trickle Down Economic meaning that if a Business does well the whole economy benefits. During the beginning the depression very little businesses succeed so still no people benefited from a quote unquote flourishing business.

This led to banks being forced to close down and families losing their life savings The social impacts of the Wall Street crash were a nightmare for those who had no hand in its causes. Traders had a reduced amount of demand because no one wanted their goods, 18 000 farmers at the end of 1932 had lost everything and had gone bankrupt, this statistic also lines up with the fact that 1 in 20 farmers were evicted . Prices of houses plummeted by 80% of their original value There was a wide spread drought affecting areas such as Texas and Dakotas .

The main accounts consist of unemployment and low income. Many economists point the finger at “the financial disaster of 2008 that weakened the economy” (Helping the homeless). The Great Recession, as many refer it as, is tied to the housing collapse, making housing costs go up the roof. Another explanation of homelessness is war. War veterans make up 23 percent of the homeless population, it is due to the lack of aid programs, and program funding that leaves them without a shelter.

There were not very many cars in the 1930s either.

It was named after Constantine Buckley George Kilgore. Kilgore started out as nothing, in 1885 it had a small population of 250. Through the years it was slowly getting larger and larger and there was a population of 1,000. But then in the late 1920s to the early 1930s, the great depression happened, which triggered cotton ( the main resource that Kilgore depended on) to decline. Causing the city’s population to decrease quickly, and as soon as 1930 the population went below 500.

These actions led to people being fired, wages fell. The Great Depression that hit the United States was the first successful attempt. The Great Depression had an effect on many families financially. The government decided to step in and that’s when welfare really started, the social security act in 1935 which was amended in 1938. The United States attempted to implement social welfare many times, but was successful starting in 1938.

With globalizations, middle-class Americans are experiencing a new level of employment uncertainty, which speaks to the increase in homelessness and food insecurity. According to our class guest speaker Vic Papale, “Americans are faced with higher domestic food prices, reduced incomes and employment and having already sold off assets, reduced food consumption and cut spending on essential items such as health care and education.” These families, individuals and children risk falling deeper into destitution and the hunger-poverty trap.

Second, in realizing the dream of equal opportunity and narrowing the wealth inequality gap, work ethic is the one which needs much attention. According to the panel of economists discussed on patterns of income inequality and mobility: - For generations, despite real barriers of race, gender and wealth, most Americans have believed that if they work hard, they'll have real opportunities to earn steadily rising incomes. Even more important, parents believed that their children would have greater job and career opportunities than they ever did. (Is America Still the Land of Opportunity?).