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The Factors Of Social Inequality In Today's Society

1174 Words5 Pages

In today’s society a measure of social equality often correlates with factors such as income, status, and wealth. This notion may be due to the fact that many individuals believe that the political and economic systems of capitalism have contributed heavily to the rise in inequality experienced by many on a global scale. Others, however, believe that capitaism is in fact the only economic system present today that minimizes economic and social inequalities while maximizing profits. This statement, however, can be viewed as false as capitalism does promote inequality amongst individuals to a certain extent. When compared to other economic systems such as communism, capitalism does promote the ideas of freedom and equality for all individuals under the system. However, these ideas do not come to light because certain individuals tend to perform better under the capitalist system due to underlying factors of wealth, power, and status. As a result the system of capitalism can be seen as advancing social inequality because individuals who generally belong to a lower socioeconomic status find it much harder to make money than their wealthier counterparts. This is because the capitalist system maximizes profits while minimizing costs, and it generally allows for the wealth to be accumulated at the top resulting in a static social structure with the wealthy at top and the poor at the bottom.
The reason the capitalist social and economic systems promote inequality is because they

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