The Importance Of Wealth Inequality In America

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?).

Regardless of the existing wealth gap among the upper, middle, and lower classes of the society, Americans are confident that they can enhance their earnings

we have progressed and now live in a land of equal opportunity. Whether you wish to become a doctor, a lawyer, or a librarian, America is the best place to be at to achieve these dreams.”(America: Land of Opportunity). It can be mouth fully said that the state of the union facilitates equal opportunity to its residents. Individuals have the right to be what they like most, and have a freedom to be what they want to be, but wealth equality is quite different from equal opportunity. Americans are still striving most of the time to realize their dreams. However, for the residents attaining their dream is getting worst from generation to generation, mainly for the “last two decades.” Regrading opportunity the U.S. can be placed at the forefront of the developed nations. In a similar manner, wealth gap can be considered as a healthy situation in American capitalism. Joseph E. Stiglitz, the author of “What Land of Opportunity?”, states, “The American Dream can be restored, but it will take some work.” (What Land of Opportunity?). Yes, he said quite right. The government may need to focus on providing, offering, and ensuring quality education for all, taking appropriate measures on the race,